Ford Motor Company are now at the Find Out stage after donating to Trump's inauguration. Tariffs, changes to the EV market, and quality issues that have plagued Ford in recent years, were given as the major reasons. Ford's CEO Jim Farley predicted chaos in the auto industry as a result of Trump's tariffs, but even Ford didn't think it would be this bad.
Source: The Hill
Automotive giant Ford posted its first quarterly loss in two years Wednesday after seeing $800 million in tariff costs.
Ford reported $50.2 billion in second-quarter revenue, a 5 percent increase from the second quarter of last year.
The Dearborn, Mich., company reported a net loss of $36 million, stemming from “special charges related to a field service action and expenses related to a previously announced cancellation of an electric vehicle program.”
Costs related to tariffs will run the company about $2 billion in annual earnings.
Ford’s top executives are in touch with the White House to tamp down tariffs on steel and aluminum.
They’ve made it clear that Ford as the most American automaker should not be disadvantaged,” Ford Chief Financial Officer Sherry House said Wednesday, according to The Wall Street Journal. “We are optimistic.”
Back in December, Ford donated $1 million and a fleet of vehicles for Trump's inauguration.
Ford Motor Co. is donating $1 million and a fleet of vehicles to U.S. President-elect Donald Trump’s January inauguration, a company spokesperson said on Monday.
Policies on tariffs and electric vehicles that are being considered by the incoming administration would likely affect Detroit carmakers like Ford, who are struggling to ramp up and sell their battery-powered models.
Republican Trump has proposed significant tariffs on imports from Mexico and Canada, as well as killing an EV tax credit that benefits Ford.
Ford CEO Jim Farley told reporters earlier this month he was optimistic that Trump would be open to hearing the U.S. automaker’s perspectives on these actions.
FORD’S PROFIT WIPED OUT BY TARIFFS
Ford reports a net loss of $29 million last quarter, compared with $1.8 billion in net income a year ago, after being hit by more than $800 million from Trump’s tariffs.
Despite the fact that Ford manufactures most of its vehicles in the… pic.twitter.com/aWh8JbQwC6— MeidasTouch (@MeidasTouch) July 30, 2025
