30/10/2024  Ford shares drop as supply snags and costs hurt profit forecast

Business


Ford Motor (F.N) shares fell as much as 10.4% on Tuesday after the automaker tempered its full-year profit forecast, blaming supplier disruptions and warranty costs amid a global price war fueled by overcapacity.

It expects 2024 adjusted earnings before interest and taxes (EBIT) of about $10 billion, compared with its earlier projection of $10 billion to $12 billion.
In contrast, Detroit rival General Motors (GM.N) boosted its profit expectations last week.



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