Skip to content
Subscriber Only
Business
Hyperdrive

Ford Rout Worsens on Forecast for $5 Billion Quarterly Loss

  • Carmaker sees big second-quarter volume declines worldwide
  • Launch of autonomous-vehicle service is postponed to 2022
    

Photographer: Daniel Acker/Bloomberg

Updated on
From

Ford Motor Co.’s sagging stock fell further after the automaker forecast a more than $5 billion second-quarter operating loss due to the coronavirus pandemic’s blow to the global car industry.

The projected deficit -- which is about $2 billion worse than some analysts were anticipating -- is based on Ford’s expectation for significant volume declines in every region. Ford shares, which already were down 42% this year at the close, ended the late trading session down 4.1%.