Ford Reports Q2 Loss, Blames Tariffs for Profit Decline
Summary
- Ford lost $36 million in the second quarter, down from a $1.8 billion profit last year.
- The company expects tariffs to cost it $2 billion this year.
- Tariffs reduced Ford's profits by $800 million in the second quarter.
- Other major automakers are also blaming tariffs for profit slumps.
Overall Sentiment: 🔴 Negative
AI Explanation
Ford Motor experienced a loss of $36 million in the second quarter, a significant drop from the $1.8 billion profit recorded in the same period last year. The company attributed this downturn primarily to the impact of tariffs, estimating they would cost the business $2 billion in total for the year. Specifically, tariffs reduced Ford's profits by $800 million in the second quarter. This situation mirrors trends among other major automakers like General Motors, Stellantis, Tesla, Mercedes-Benz, and Volkswagen, all of whom have cited tariffs as a key factor in their declining profits.
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