Latest news with #US2.5
7NEWS
2 days ago
- Automotive
- 7NEWS
Ford income falls 65 per cent as Trump's tariffs bite
Ford has postponed its full-year financial forecast, and announced US President Donald Trump's tariffs introduced in April will cost it $US2.5 billion ($A2.32 billion) and as much as $US1.5 billion ($A2.32 billion) in 2025 alone. The carmaker reported a 65 per cent fall in profits for the first three months of 2025 despite tariffs not coming into effect until April 3. Ford is the second carmaker in a week to drop its forecast with arch-rival General Motors (GM) – which said it's set to lose $US5-6 billion due to the tariffs – pushed its investor call after President Trump softened tariffs. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The President's move gave carmakers temporary relief from tariffs on steel, aluminium and other imports being applied in addition to the standard automotive tariff. The automotive tariff – separate to additional 'reciprocal tariffs' announced later – applies a 25 per cent duty on vehicle imports into the United States (US). A secondary tariff applying to 'key' automotive parts came into force on May 3, 2025, further impacting supply chains for US carmakers. Ford has previously said it expected to be less impacted than most rivals as it has a large US manufacturing footprint, although it still produces the Mustang Mach-E electric SUV, for example, in Mexico. It will also follow through with plans to increase highly profitable Ford F-Series Super Duty production in Ontario, Canada. The Super Duty name is set to arrive in Australian showrooms in 2026 on a tougher version of the Ranger. On Monday, May 5 the carmaker said it would not issue its usual forecast, saying the uncertainty around the tariffs prevented an accurate picture of the business for the remainder of 2025. 'Given material near-term risks, especially the potential for industry-wide supply chain disruption impacting production, the potential for future or increased tariffs in the US, changes in the implementation of tariffs including tariff offsets, retaliatory tariffs and other restrictions by other governments and the potential related market impacts, and finally policy uncertainties associated with tax and emissions policy, the company is suspending guidance,' a statement from Ford said. 'These are substantial industry risks, which could have significant impacts on financial results, and that make updating full year guidance challenging right now given the potential range of outcomes.' It said it was on target to meet its previous forecast of between $US7-8.5 billion ($A10.83-13.15 billion) EBIT (Earnings Before Interest and Taxes) and will give its next update at the end of June 2025. The US carmaker's EBIT fell 63 per cent to $US 1 billion ($A1.55 billion) in the first quarter (January-March) 2025, with revenue down five per cent to $US40.7 billion ($A62.96 billion). Ford Pro, the brand's commercial vehicle unit responsible for the Ranger, Transit and F-150 sold in Australian showrooms, made $US1.3 billion (A$2.01 billion) – but this was 56 per cent down on the same period in 2024. The Blue Oval's 'Model e' electric car division – yet to turn a profit, which saw ex-Ford Australia President Kay Hart installed as its boss in February 2025 – is expected to have its best year to date. It still posted a $US849 million loss ($1.31 billion) in the first quarter, but this was a substantial improvement over the $US1.3 billion ($A2.01 billion) loss over the same period in 2024. 'We are strengthening our underlying business with significantly better quality and our third straight quarter of year-over-year cost improvement, excluding the impact of tariffs,' Ford CEO Jim Farley said in a statement. In postponing its earnings call, cross-town rival GM's chief financial officer, Paul Jacobson, told Reuters: 'The future impact of tariffs could be significant… we're telling folks not to rely on the prior guidance, and we'll update when we have more information around tariffs.' US new vehicle sales were up 4.4 per cent year-on-year in the first quarter of 2025, led by Toyota ahead of Ford and GM, but with GM's 17 per cent year-on-year growth making it the only one of the trio posting a significant increase in sales.
West Australian
2 days ago
- Automotive
- West Australian
Ford income falls 65 per cent as Trump's tariffs bite
Ford has postponed its full-year financial forecast, and announced US President Donald Trump's tariffs introduced in April will cost it $US2.5 billion ($A2.32 billion) and as much as $US1.5 billion ($A2.32 billion) in 2025 alone. The carmaker reported a 65 per cent fall in profits for the first three months of 2025 despite tariffs not coming into effect until April 3. Ford is the second carmaker in a week to drop its forecast with arch-rival General Motors (GM) – which said it's set to lose $US5-6 billion due to the tariffs – pushed its investor call after President Trump softened tariffs. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now . The President's move gave carmakers temporary relief from tariffs on steel, aluminium and other imports being applied in addition to the standard automotive tariff. The automotive tariff – separate to additional 'reciprocal tariffs' announced later – applies a 25 per cent duty on vehicle imports into the United States (US). A secondary tariff applying to 'key' automotive parts came into force on May 3, 2025, further impacting supply chains for US carmakers. Ford has previously said it expected to be less impacted than most rivals as it has a large US manufacturing footprint, although it still produces the Mustang Mach-E electric SUV, for example, in Mexico. It will also follow through with plans to increase highly profitable Ford F-Series Super Duty production in Ontario, Canada. The Super Duty name is set to arrive in Australian showrooms in 2026 on a tougher version of the Ranger . On Monday, May 5 the carmaker said it would not issue its usual forecast, saying the uncertainty around the tariffs prevented an accurate picture of the business for the remainder of 2025. 'Given material near-term risks, especially the potential for industry-wide supply chain disruption impacting production, the potential for future or increased tariffs in the US, changes in the implementation of tariffs including tariff offsets, retaliatory tariffs and other restrictions by other governments and the potential related market impacts, and finally policy uncertainties associated with tax and emissions policy, the company is suspending guidance,' a statement from Ford said. 'These are substantial industry risks, which could have significant impacts on financial results, and that make updating full year guidance challenging right now given the potential range of outcomes.' It said it was on target to meet its previous forecast of between $US7-8.5 billion ($A10.83-13.15 billion) EBIT (Earnings Before Interest and Taxes) and will give its next update at the end of June 2025. The US carmaker's EBIT fell 63 per cent to $US 1 billion ($A1.55 billion) in the first quarter (January-March) 2025, with revenue down five per cent to $US40.7 billion ($A62.96 billion). Ford Pro, the brand's commercial vehicle unit responsible for the Ranger, Transit and F-150 sold in Australian showrooms, made $US1.3 billion (A$2.01 billion) – but this was 56 per cent down on the same period in 2024. The Blue Oval's 'Model e' electric car division – yet to turn a profit, which saw ex-Ford Australia President Kay Hart installed as its boss in February 2025 – is expected to have its best year to date. It still posted a $US849 million loss ($1.31 billion) in the first quarter, but this was a substantial improvement over the $US1.3 billion ($A2.01 billion) loss over the same period in 2024. 'We are strengthening our underlying business with significantly better quality and our third straight quarter of year-over-year cost improvement, excluding the impact of tariffs,' Ford CEO Jim Farley said in a statement. In postponing its earnings call, cross-town rival GM's chief financial officer, Paul Jacobson, told Reuters : 'The future impact of tariffs could be significant… we're telling folks not to rely on the prior guidance, and we'll update when we have more information around tariffs.' US new vehicle sales were up 4.4 per cent year-on-year in the first quarter of 2025, led by Toyota ahead of Ford and GM, but with GM's 17 per cent year-on-year growth making it the only one of the trio posting a significant increase in sales.
Perth Now
2 days ago
- Automotive
- Perth Now
Ford income falls 65 per cent as Trump's tariffs bite
Ford has postponed its full-year financial forecast, and announced US President Donald Trump's tariffs introduced in April will cost it $US2.5 billion ($A2.32 billion) and as much as $US1.5 billion ($A2.32 billion) in 2025 alone. The carmaker reported a 65 per cent fall in profits for the first three months of 2025 despite tariffs not coming into effect until April 3. Ford is the second carmaker in a week to drop its forecast with arch-rival General Motors (GM) – which said it's set to lose $US5-6 billion due to the tariffs – pushed its investor call after President Trump softened tariffs. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert The President's move gave carmakers temporary relief from tariffs on steel, aluminium and other imports being applied in addition to the standard automotive tariff. The automotive tariff – separate to additional 'reciprocal tariffs' announced later – applies a 25 per cent duty on vehicle imports into the United States (US). A secondary tariff applying to 'key' automotive parts came into force on May 3, 2025, further impacting supply chains for US carmakers. Ford has previously said it expected to be less impacted than most rivals as it has a large US manufacturing footprint, although it still produces the Mustang Mach-E electric SUV, for example, in Mexico. Supplied Credit: CarExpert It will also follow through with plans to increase highly profitable Ford F-Series Super Duty production in Ontario, Canada. The Super Duty name is set to arrive in Australian showrooms in 2026 on a tougher version of the Ranger. On Monday, May 5 the carmaker said it would not issue its usual forecast, saying the uncertainty around the tariffs prevented an accurate picture of the business for the remainder of 2025. 'Given material near-term risks, especially the potential for industry-wide supply chain disruption impacting production, the potential for future or increased tariffs in the US, changes in the implementation of tariffs including tariff offsets, retaliatory tariffs and other restrictions by other governments and the potential related market impacts, and finally policy uncertainties associated with tax and emissions policy, the company is suspending guidance,' a statement from Ford said. 'These are substantial industry risks, which could have significant impacts on financial results, and that make updating full year guidance challenging right now given the potential range of outcomes.' Supplied Credit: CarExpert It said it was on target to meet its previous forecast of between $US7-8.5 billion ($A10.83-13.15 billion) EBIT (Earnings Before Interest and Taxes) and will give its next update at the end of June 2025. The US carmaker's EBIT fell 63 per cent to $US 1 billion ($A1.55 billion) in the first quarter (January-March) 2025, with revenue down five per cent to $US40.7 billion ($A62.96 billion). Ford Pro, the brand's commercial vehicle unit responsible for the Ranger, Transit and F-150 sold in Australian showrooms, made $US1.3 billion (A$2.01 billion) – but this was 56 per cent down on the same period in 2024. The Blue Oval's 'Model e' electric car division – yet to turn a profit, which saw ex-Ford Australia President Kay Hart installed as its boss in February 2025 – is expected to have its best year to date. Supplied Credit: CarExpert It still posted a $US849 million loss ($1.31 billion) in the first quarter, but this was a substantial improvement over the $US1.3 billion ($A2.01 billion) loss over the same period in 2024. 'We are strengthening our underlying business with significantly better quality and our third straight quarter of year-over-year cost improvement, excluding the impact of tariffs,' Ford CEO Jim Farley said in a statement. In postponing its earnings call, cross-town rival GM's chief financial officer, Paul Jacobson, told Reuters: 'The future impact of tariffs could be significant… we're telling folks not to rely on the prior guidance, and we'll update when we have more information around tariffs.' US new vehicle sales were up 4.4 per cent year-on-year in the first quarter of 2025, led by Toyota ahead of Ford and GM, but with GM's 17 per cent year-on-year growth making it the only one of the trio posting a significant increase in sales.
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
Trump's big bet on his $8 billion family fortune
President Donald Trump has made no secret of his love for the crypto industry in his second term, appointing friendly regulators, establishing a US digital asset stockpile, ending prosecutions and pardoning its criminals. Those moves are set to hit even closer to home as the industry increasingly drives the fate of his family's personal fortune. His sons Eric Trump and Donald Trump Jr. have hopscotched from one crypto conference to the next — Abu Dhabi in December, Washington in March, Dubai in May — rousing fans and drawing criticism about conflicts of interest along the way. They're getting top billing at a conference in Las Vegas this week, alongside Vice President JD Vance. A spokesperson for the Trump Organisation did not immediately reply to a request for comment. Their appearances come just as the most valuable asset underpinning the president's $US5.2 billion ($8.1 billion) personal fortune is set to become increasingly tied to the price of bitcoin. Loading Trump Media and Technology Group, the family's money-losing social media business, announced Tuesday it was raising $US2.5 billion to buy bitcoin — what chief executive officer Devin Nunes called an 'apex instrument of financial freedom.' The company's balance sheet of cash, cash equivalents and investments were worth $US759 million at the end of the first quarter, according to a filing on Tuesday. It's among the highest-profile examples of what's become a familiar strategy: There are more than 30 public US companies that purchase bitcoin as part of their corporate treasury, according to CoinGecko. Bernstein analysts project bitcoin could see $US330 billion in inflows via corporate treasuries before 2030. The token climbed above $US111,000 last week for the first time ever and has gained roughly 55 per cent since Trump's election win in November. Trump Media, by comparison, is down about 34 per cent over the same period. Bitcoin buyers
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
The Trump $8 billion family fortune is being tied to bitcoin
President Donald Trump has made no secret of his love for the crypto industry in his second term, appointing friendly regulators, establishing a US digital asset stockpile, ending prosecutions and pardoning its criminals. Those moves are set to hit even closer to home as the industry increasingly drives the fate of his family's personal fortune. His sons Eric Trump and Donald Trump Jr. have hopscotched from one crypto conference to the next — Abu Dhabi in December, Washington in March, Dubai in May — rousing fans and drawing criticism about conflicts of interest along the way. They're getting top billing at a conference in Las Vegas this week, alongside Vice President JD Vance. A spokesperson for the Trump Organisation did not immediately reply to a request for comment. Their appearances come just as the most valuable asset underpinning the president's $US5.2 billion ($8.1 billion) personal fortune is set to become increasingly tied to the price of bitcoin. Loading Trump Media and Technology Group, the family's money-losing social media business, announced Tuesday it was raising $US2.5 billion to buy bitcoin — what chief executive officer Devin Nunes called an 'apex instrument of financial freedom.' The company's balance sheet of cash, cash equivalents and investments were worth $US759 million at the end of the first quarter, according to a filing on Tuesday. It's among the highest-profile examples of what's become a familiar strategy: There are more than 30 public US companies that purchase bitcoin as part of their corporate treasury, according to CoinGecko. Bernstein analysts project bitcoin could see $US330 billion in inflows via corporate treasuries before 2030. The token climbed above $US111,000 last week for the first time ever and has gained roughly 55 per cent since Trump's election win in November. Trump Media, by comparison, is down about 34 per cent over the same period. Bitcoin buyers
