The American car group Ford Motor suffered so much loss in the fourth quartile of last year that almost all of the 2019 profits have disappeared. Investors were surprised by the negative figures: shortly after the announcement, the share plummeted 10 percent.
Ford suffered a $ 1.7 billion loss in the last quarter. This is mainly due to a previously announced billions in billions for pension liabilities, but the company also faced weak sales, writes CNN Tuesday evening.
Over the entire year, ‘only’ 84 million dollars (equivalent to 76 million euros) of profit remained. This compares poorly with the 3.7 billion and 7.8 billion dollar profit in the previous two years.
Earlier, profit expectations had already been adjusted downwards, but CEO Jim Hackett wrote in a letter that the company had performed “below expectations”. Ford is in the midst of a restructuring of the company that costs around $ 11 billion. The American car concern wants to focus on trucks, SUVs, electric and self-driving cars.
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