Ford Motor Monday says that the Trump administration’s tariff policies are likely to reduce $ 1.5 billion before its interest and taxation before its 2025 profit. The company also predicted its forecast for the year, saying that the future was very difficult to predict.
Ford is less affected by 25 percent of the vehicles compared to President Trump’s other automackers because it is made in most vehicles sold in the United States. General Motors said last week that the tariffs this year will increase its expenditures from $ 4 billion to $ 5 billion.
Ford chief financial officer, Sherry House, called at a conference, “We believe that we are in a good position to adapt to the changes that our industry is running.”
The company has said that the transfer of the administration was likely to disrupt the automotive supply chain in the customs policies, and they could force other countries to impose revenge on US exports. It also mentions more uncertainty in the Trump administration’s tax and emission policies.
“We felt wise to suspend our entire year guidance,” said Mrs. House.
Ford earlier said that it was expected to earn 2021 before interest and tax, Billion would be $ 7 billion to $ 8.5 billion.
The Trump administration has collected 25 percent tariffs on imported vehicles and auto parts. It has increased tariffs on imported steel and aluminum, which is widely used in cars and trucks.
Other tariffs imposed by Mr. Trump refers to a major change in the US trade policy, especially in the United States, Canada and Mexico to trade. For decades, cars and auto parts are being transmitted to North America very low or with any tariff.
Ford is currently a main electric model in Mexico, including Mustang Mach-E, and the company plans to start making heavy tariff pickup trucks in Canada in 20226. Mrs. House has said that Automaker is not considering changing his heavy tariff truck plans.
The agency also said that his profit in the first three months of the year stood at $ 1.3 billion to $ 471 million at the same time a year ago. Ford blamed the lower vehicle sales because it paused to prepare for new models to produce production in some factories and made other changes to reduce the list of unsold cars and trucks.
The trimester has dropped to $ 40.7 billion in its revenue by 5 percent. The loss of electric vehicles has been compressed by $ 849 million due to a loss of $ 1.5 billion a year ago. Profit from mainstream sales, internal combustion vehicles stand at 901 million dollars to $ 96 million. Profit by selling commercial trucks and related services has dropped from $ 3 billion to $ 1.3 billion last year.
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