QUARTERLY REPORT
Coronavirus Sends Ford To $2B 1Q Loss
The automaker said Tuesday that its revenue from January through March fell nearly 16% to $31.3 billion as most of its factories were shut down for the final week of the quarter.
GM said the shutdowns will begin today, while Ford’s will take place Thursday. Fiat Chrysler is expected to announce a similar move.
Ford Motor Co gave a fourth-quarter earnings forecast on Wednesday that was below analysts’ expectations, sending shares down slightly in U.S. premarket trading.
The outlook for a string of global technology firms and auto makers remains clouded, after being forced to halt production at plants in Thailand following the nation’s worst flooding in half a century.
