US Auto Giant: Ford Sees Higher Burden from Raw Material Prices
Ford scaled back its loss-making electric business and benefited from the sale of large cars in the US market. However, the consequences of the Iran war are causing headwinds.
Ford is expecting a hit of nearly $2.5 billion this year from rising raw material prices, up from a previous estimate of $2 billion. The company's sales in the region were impacted by the Iran war, contributing to a 3% decline in revenue from combustion engine models to $27.1 billion. Despite challenges, Ford is more optimistic about its profit situation, raising the lower end of its adjusted pre-tax profit range to $10.5 billion.
The company's electric vehicle sales fell 31% to 34,000 units, while overall Ford revenue decreased 2% to $49.5 billion, with profit down 16% to $2 billion.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
