Ford posted fourth-quarter profit that fell short of Wall Street estimates. “We should have done much better last year,” Chief Executive Officer Jim Farley said in a statement.
Ford Motor Co., ramping up electric-vehicle production while struggling to make money on its plug-in models, posted fourth-quarter profit that fell short of Wall Street estimates.
“We should have done much better last year,” Chief Executive Officer Jim Farley said in a statement. “We left about US$2 billion in profits on the table that were within our control, and we’re going to correct that with improved execution and performance.” Ford anticipates a “mild” recession in the U.S. this year and a “moderate” one in Europe. It also expects challenges from increased customer incentives industrywide and a strong U.S. dollar.
Ford aims to increase production of EVs to 600,000 annually by the end of this year and reach a 2-million-vehicle yearly run rate by the end of 2026.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed feeds Wall Street’s soft landing hopes, though recession fears still loomBullish investors took heart at Powell’s comments at the end of Wednesday’s monetary policy meeting
Read more »
Wall Street rip finds few fans at Miami hedge fund weekThis year’s rally hasn’t convinced many about the state of U.S. stocks
Read more »
Meta mojo is back: Earnings surprise sparks share surge, lifts Big TechFacebook owner floored Wall Street by slashing its spending forecast and boosting its stock buyback plan
Read more »
Premier Doug Ford set to make Service Ontario announcement in BramptonPremier Doug Ford is set to make a Service Ontario announcement in Brampton this morning.
Read more »
Premier Doug Ford makes a Service Ontario announcement in BramptonPremier Doug Ford is set to make a Service Ontario announcement in Brampton this morning.
Read more »