Latest news with #FordMotor
Wall Street Journal
4 hours ago
- Automotive
- Wall Street Journal
Why Ford's Made-in-America Strategy Hurts It in Trump's Trade War
There is an irony in Detroit right now: The automaker most reliant on U.S. manufacturing is among the hardest hit by tariffs. Ford Motor F 1.84%increase; green up pointing triangle, the second-largest American carmaker, prides itself on making most of its vehicles in the U.S. Some 80% of the cars Ford sells in the U.S. are built there, and it makes more vehicles in the U.S. than any other automaker.
Wall Street Journal
12 hours ago
- Business
- Wall Street Journal
U.S.-Canada Trade Talks Dealing With Aluminum-Tariff Levels, Bessent Says
U.S. trade talks with Canada have involved the level of aluminum tariffs as some U.S. manufacturers, most notably Ford Motor, are dealing with a financial hit, according to Treasury Secretary Scott Bessent. The Treasury secretary's remarks Thursday signal possible relief for Canada's aluminum sector, which—along with steel makers—faces a 50% tariff on products entering the U.S. Canada is the U.S.'s biggest foreign supplier of both metals, and the deals President Trump has made to date have maintained the 50% duty of steel and aluminum.
Wall Street Journal
21 hours ago
- Automotive
- Wall Street Journal
Ford Earnings: Automaker Projects $2 Billion Tariff Blow This Year
Ford Motor said tariff-related costs would cut about $2 billion from annual earnings before interest and taxes, a jump from the $1.5 billion predicted three months ago. It paid out more than $800 million in tariffs last quarter, despite manufacturing most of its vehicles in the U.S. The bill came from imported parts, as well as from fees on steel and aluminum. The hit helped wipe out the automaker's net profit, leading to its first quarterly loss since 2023. Ford stock dropped more than 1% in premarket trading early Thursday. Go deeper:
NHK
a day ago
- Automotive
- NHK
Trump's tariffs hit Ford's latest quarter
The Trump administration's tariff measures are starting to hurt the bottom lines of major automakers, with US giant Ford Motor posting record revenue in the last quarter but still ending up in the red as costs ballooned under the new levies. Ford reported a net loss of 36 million dollars for the April-to-June period. That came despite a 5 percent rise in revenue from a year earlier to 50.2 billion dollars. The company said the cancellation of an electric vehicle program was a contributing factor. More than 75 percent of new vehicles Ford sells in the US are built on home soil. But the automaker imports many of the parts. Ford is now warning that the additional 25 percent duty on those imports will slash its profit by about 2 billion dollars this year.
Nikkei Asia
a day ago
- Automotive
- Nikkei Asia
Ford touts 'Model-T moment' for EVs to counter China's Geely, BYD
Ford says it will announce a new EV strategy on Aug. 11, as it positions itself to take on rising Chinese players. © Reuters KENJI KAWASE TOKYO -- Ford Motor is preparing to unveil a new electric vehicle strategy on Aug. 11, aiming to counter the global onslaught of Chinese manufacturers such as Geely and BYD. Jim Farley, the U.S. automaker's CEO, said the announcement will be a "Model-T moment for us at Ford," referring to the company's legacy as the maker of the world's first mass-produced, affordable car.
