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World Ford raises targets despite chip crisis at

05:10  28 october  2021
05:10  28 october  2021 Source:   finanzen.net

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Ford Motor Co. stock rose more than 9% in after-hours trading Wednesday after the auto maker reported mixed third-quarter results but raised guidance for this year, resumed paying a dividend and said chip shortages are easing. DETROIT (Reuters) - Ford Motor Co on Wednesday reported a stronger-than-expected third-quarter profit and raised its full-year earnings forecast as strong demand for its trucks helped offset the hit from a global semiconductor shortage. Ford said increased availability of chips and higher wholesale vehicle shipments in the third quarter enabled it to post higher profit

The US automaker said it would idle its factory in Saarlouis, Germany, from Monday until February 19 because the chip shortage and weak demand. I think this is the real reason, and the chip shortage was just the cherry on top. We just had a 50% reduction in Tundra production because Toyota can’t get the chips they need. We are two months back ordered on any tundra, Tacoma, most RAV4’s and all hybrids other than Prius and Venza. Basically if it’s a truck, van or SUV, we’re sold out for at least a month.

The second largest US car manufacturer Ford has cut better in the third quarter despite the global chip crisis than expected and raised its profit goals.

Ford scheidet im dritten Quartal trotz der weltweiten Chipkrise besser ab als erwartet. © Gerry Broome / AP / DPA Ford works better in the third quarter despite the global chip crisis than expected.

for the full year 2021 is now expected with an adjusted operating result between $ 10.5 billion and $ 11.5 billion (€ 9.9 billion), Ford shared with US stock exchanges. The previous forecast was located at a maximum of ten billion dollars. The stock initially responded first with a course jump by five percent.

In the past quarter, profit and sales were strongly strongly adopted in view of the production weakened by semiconductor deficiency but less than analysts. Ford also declared that the supply situation has now clearly relaxed. The company earned $ 1.8 billion in the quarter. They were about 600 million less than a year ago, when the US car market made a comeback after the first corona shock. The Group's revenue fell to 35.7 billion US dollars by five percent.

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usr: 6
This is interesting!