Trump metals tariffs to cost Ford $1 billion in profits, says Ford CEO

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Steel and aluminum tariffs imposed by the Trump administration have cost Ford Motor about $1 billion in profits, its chief executive officer stated on Wednesday, where as Honda Motor stated higher steel costs have brought “hundreds of millions of dollars” in recent costs. “From Ford’s perspective the metals tariffs took about $1 billion in profit […]

Ford reports lower profits, takes hit from pensions, canceling Mexico plant

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Ford Motor on Thursday reported a fourth-quarter loss, mentioning an accounting change to pensions and expenses for canceling a factory in Mexico, which President Donald Trump had targeted on his way to the White House. Ford likewise reaffirmed its projection that 2017 profits would be lower, which contrasted with more positive forecasts from Detroit competitors […]

Ford takes Fiesta upmarket to raise revenue

Ford Fiesta

Ford wishes to increase profitability in Europe by including higher-margin variations of the Fiesta subcompact, its very popular local model, the automaker’s top European executive stated. High-volume automakers such as Ford have for numerous years been squeezed in a downmarket growth by luxury competitors including Daimler’s Mercedes-Benz and Audi. However Ford, which presently targets premium […]