Ford shares slide after weaker-than-expected 2020 forecast

Ford Motor Co shares nosedived on Tuesday after it handed investors a weaker-tha...

DEARBORN, Mich. - Ford Motor Co shares nosedived on Tuesday after it handed investors a weaker-than-expected 2020 forecast, warning that quality problems, lower profits at its credit arm and continued investments in unprofitable self-driving cars would weigh down profits.

The disappointing 2020 forecast, coming after Ford previously trimmed its 2019 outlook, is a blow for Chief Executive Jim Hackett. For the fourth quarter of 2019, Ford reported a net loss of $1.7 billion, or 42 cents a share, compared with a loss of $100 million, or 3 cents a share, a year earlier. Ford said its operating losses in China last year totaled $771 million, including a loss of $207 million in the fourth quarter. It lost $1.5 billion in 2018. Ford’s market share in China in the fourth quarter fell to 2% from 2.3% last year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jennifer Lopez & Daughter Emme Share Amazing 'Let's Get Loud' Duet During 2020 Super Bowl Halftime ShowJennifer Lopez and Shakira shared their spotlight on the stage of the Super Bowl 54 halftime show on Sunday night (Feb. 2) when Lopez's daughter, Emme, delivered one of the best surprises of the night.
Read more »

All the 2020 Super Bowl CommercialsYes, someone convinced Bill Murray to do another Groundhog Day.
Read more »