ford-Id boss Jim Farley (62) has warned the White House that long -term punitive tariffs of 25 percent on deliveries from Mexico and Canada the US car industry would hit hard. This will be the American manufacturer billions of dollars in profits and serious consequences for jobs in the USA Farley said according to the presentation of quarterly figures.
US auto giants like Ford and General Motors had expanded production in neighboring countries in recent years. US President Donald Trump (78) recently had additional tariffs of 25 percent on goods from Mexico and Canada – but then quickly pushed them up by 30 days.
Farley argued that rivals like Hyundai, Kia and Toyota Millions of vehicles from South Korea and Japan could introduce the United States without an additional burden. At the same time, the White House and the Congress have promised to strengthen and not weaken the US car industry, he said in the US broadcaster CNBC.
Further high losses with electric cars
The quarterly figures show that Ford still cannot stop the high losses in his shop with electric cars. The area operated by surgically red numbers of almost $ 1.4 billion (EUR 1.35 billion). After all, there were a good $ 180 million less than a year earlier. Farley hopes to pull the rudder around with newly developed electric models. You should come onto the market “in a few years”.
Thanks to the strong sales of vehicles with combustion engines and commercial vehicles, Ford made a quarterly profit of $ 1.8 billion. In the previous year, there was still a loss of around $ 500 million. Sales rose by 5 percent to $ 48.2 billion.
The Ford share dropped by more than 4 percent in post-exchangeable US trade. The group predicted a decline in adjusted operational profit to $ 7 to $ 8.5 billion of $ 10.2 billion in 2024 for the current financial year. Analysts had expected more.