Ford's (NYSE: F) stock has been down since its last earnings announcement, part of a long-term trend.
U.S. President-elect Donald Trump's plan to slap a 25% tax on all imports from Mexico and Canada could strike the bottom lines of U.S. automakers, especially General Motors, and raise prices of SUVs and pickup trucks for U.S. consumers.
Ford Motor (F) reported earnings 30 days ago. What's next for the stock?
Germany's IG Metall union lashed out on Wednesday at plans to cut thousands of jobs at Ford, saying that the restructuring would spell a slow death for the U.S. automaker's production site in Cologne.
The auto sector is taking a hit today, after President-Elect Donald Trump announced his latest tariff plans , which include a 25% tariff on goods from Mexico and Canada (higher than the proposed blanket tariff of up to 20% on all imports).
The latest trade news out of the next Trump administration has markets on the move, hitting big automakers' shares and the stocks of America's neighbors.
Stocks of GM and Ford took a hit, amid concerns that Trump's plan for tariffs on imports from Mexico and Canada could cut auto sales more than a million cars.
The president-elect will waste little time in making good on his campaign promise, pledging to impose 25% levies on Mexico and Canada on his first day back in the White House.
Zacks.com users have recently been watching Ford Motor (F) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Ford F is set to reduce its European workforce by around 4,000 employees, approximately 14% of its regional headcount, citing weak demand for electric vehicles (EVs), insufficient government support for the EV transition and competition from subsidized Chinese automakers. The layoffs, representing 2.3% of Ford's global workforce of 174,000, will primarily impact Germany and the U.K., with 2,900 and 800 positions cut, respectively.
After years of spending capital freely on all-electric and autonomous vehicles, automakers are starting to pull back. It takes a significant capital investment every time an automaker launches a new product or updates current models, causing a spending ripple effect throughout the global supply chain.
Ford Motor Co. said that the EU's "CO2 regulations" contributed to the decision to cut their European workforce 14% by 2027.