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Ford Hints at Raising More Cash After Burning Through Billions

  • Carmaker contends it has enough to last through third quarter
  • Loss was about $600 million in first quarter; revenue fell 16%
     

Photographer: Daniel Acker/Bloomberg

Updated on

Ford Motor Co. is considering additional financing actions as a global pandemic heaps more pressure onto earnings that already were slumping before the coronavirus forced plant and showroom closures around the globe.

The carmaker said Monday it’s expecting to report a loss later this month and that it had roughly $30 billion in cash on its balance sheet as of April 9. The comments suggest the company has used about $8 billion since the end of last year, Joel Levington a Bloomberg Intelligence credit analyst, wrote in a report.