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Meanwhile, combustion-engine automobiles and commercial vehicles generated operating profits of approximately $1.7 billion each.
Overall, Ford increased its sales by 11 percent year over year to $44 billion. As a result, there were black numbers of $1.2 billion, following a loss of $827 million in the same quarter last year. But analysts expected more. Shares temporarily fell 4 percent in after-hours trading Thursday.
Ford withdrew its forecasts for this year, citing the agreement it recently reached with the US union UAW. Ford on Wednesday became the first of three major U.S. automakers to reach an agreement with the UAW after a nearly six-week strike. The agreement, which provides for a 25 percent wage increase during the collective bargaining period, still needs to be approved by the union base.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
