Ford boss Jim Farley has warned the White House that long-term criminal rates of 25 percent would hit the American car industry on deliveries from Mexico and Canada.
This will have a billion dollar from US manufacturers of profit and serious consequences for jobs in the United States, Farley said after submitting quarterly figures. American car giants such as Ford and General Motors have expanded production in neighboring countries in recent years.
US President Donald Trump recently had extra rates of 25 percent on goods from Mexico and Canada, but then quickly pushed them up by 30 days. Farley argues that rivals such as Hyundai, Kia and Toyota can introduce millions of vehicles from South Korea and Japan in the US without extra stress. At the same time, the White House and Congress have promised to strengthen and not weaken the American car industry, he said in the American broadcaster CNBC.
Further high losses with electric cars
The quarterly figures show that Ford cannot stop the high losses in his store with electric cars. The area managed by surgical red number of almost $ 1.4 billion (EUR 1.35 billion). After all, there were a good $ 180 million fewer than a year earlier. Farley hopes to go around with newly developed electric models. You should “come on the market” in a few years “.
Thanks to the strong sale of vehicles with combustion engines and commercial vehicles, Ford was the Bottom Line of $ 1.8 billion. In the previous year there was still a loss of around $ 500 million. Turnover increased five percent to $ 48.2 billion.
The Ford share fell by more than four percent in post-exchangeable US trade. The group predicted a decrease in adapted operational profit to $ 7 to $ 8.5 billion out of $ 10.2 billion in 2024 for the current financial year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
