© Geoff Robins/AFP/Getty ImagesBill Ford, Executive Chair of Ford Motor Company speaks to the media
Ford's stock (F: NYSE) on Tuesday opened at $14.11 but dropped to $13.38 an hour later. The Dearborn automaker's stock closed the day at $13.09.
Supply chain woes have resulted in Ford placing 40,000 to 45,000 high-margin and high-demand trucks and SUVs to be left in inventory at the end of the third quarter due to a supply shortage of proper parts to complete and sell the vehicles to dealers.
Ford also indicated in the earlier Monday announcement that rampant inflation has made it expensive to purchase certain parts.
The company expects the vehicles to be ready to sell to dealers in the fourth quarter.
With the vehicles not ready to sell to the market, Ford adjusted their third-quarter earnings before interest and taxes (EBIT) between $1.4 to $1.7 billion - much lower than Wall Street estimations of $3 billion, according to Yahoo Finance.
Despite the grim news, Ford is still expecting its full-year 2022 EBIT to be between $11.5 billion to $12.5 billion.
Ford's announcement is a likely indicator that "auto parts shortages and supply-chain issues are still ongoing," according to CFRA analyst Garrett Nelson via MarketWatch.
Ford's rival General Motors (GM) faced similar problems in the second quarter, saying in July it had 95,000 vehicles in inventory due to a shortage of components, according to CNBC. GM also told investors that it expects all the vehicles to be ready to sell to dealers at the end of 2022. It remains to be seen whether it is a Ford-specific problem or an industry-wide problem.
GM and Tesla's stock dropped on Tuesday as well.
A recent National Association of Manufactures' 2022 third quarter survey found that 78.3 percent of manufacturing leaders listed supply chain disruptions as the number one vainness challenge. Only 10.8 percent believe there will be an improvement at the end of the year.
More than three-quarters of those surveyed also say rising raw material costs due to inflation were a top business challenge.
Reader Comments
That applies especially to Europe and North America, Commonwealth included. It's much better when the slaves are equal anywhere around the world, isn't it? Especially those pesky middle-class white folk, they're certainly a pain in the arse to the elites. Competition in making. So it all must be cast down into rubble, otherwise the status quo cannot be maintained any longer.
What is really scary though, is that masses accept it almost without a protest (if not counting in controlled opposition of any kind).. As if there was no other choice but to go along. This way there certainly remains no choice, but to leave society to its own demise by its own devices.. all sealed by their "will" - or rather the lack of it.
I'm sorry I couldn't do anything substantial either to change this outcome, thus I accept the inevitability of what is to come, too. I would feel like a hypocrite if I didn't admit so. I guess most people just do the same subconsciously, without ever realizing the mechanism behind it all.
There are many discontent people here, but as I've noticed, they STILL believe in voting and they STILL believe "some" "other" politicians could "save" them
I'm afraid the majority is DOOMED and we can't do sh*t about that..
World Governments have crippled the World's economies, unnecessary conflicts have been used to drive up prices and espionage is now the new vehicle in which to drive in new agenda's.
Ford's hand has been crossed and forced, their truly in a creek without a paddle.
Elites see us as mere hungry useless eaters after all, so why provide us with jobs and living conditions? Instead they provide us with tools to totally destroy our society in name of "greater good" of actually WHATEVER but ourselves..
I think the train is going too fast to jump out for most people, especially if they've been jabbed, as nobody knows how deadly was his particular batch.
What isn't known on a World wide scale, is what so few think of Earth's population? They dread our being and wish humanity DEAD.
It would be a GREAT eye opener if everyone knew what they thought of us.
The disturbing thing is that these creatures that abide to their societies rules, could be one's neighbour, a two faced one at that.
Now that we've entered into "conspiracy practice" and one could no longer call it mere theories, then - CRICKETS. At least as far as the majority is concerned, they don't want to see, they don't want to hear and they don't want to say it out loud either..
Where have I just seen that symbolic..
I'm afraid this could go on for thousands of years without failing substantially.. Yes, they need to refresh the ideology time to time, sacrifice some people on the altar of greed, let the natural changes and cosmic influence do their process, but still manage to hermetically seal the knowledge used to control us in such a manner.. And until we become smart and dedicated enough to control our own lives despite all of them, then we lack the strength to get rid of them.. Question was never about getting rid of the "elites", but more so about what happens afterwards.. so that the elites don't come back to haunt us with conspiracies in the next generations.