Ford stock is trading sharply down after the automaker reported earnings that fell short of estimates.
While Ford was the first of the Detroit automakers to reach a tentative deal with the UAW, the new contract will raise Ford's already-high costs even higher if ratified.traded sharply lower Friday after the company reported earnings that missed estimates and said that demand for its electric vehicles was falling short of expectations.after the markets closed Thursday, and they weren't what Wall Street had expected.
But Ford's new contract will be an expensive one. CFO John Lawler said the UAW deal, if ratified by members, will add $850 to $900 in costs to every vehicle assembled in the U.S. That will put additional pressure on CEO Jim Farley's ongoing efforts to improve Ford's costs and quality. Pharmacy staff from Walgreens, CVS say they're at a breaking point — here's what their days look likein previously announced spending on EV manufacturing capacity, saying that its customers in North America are no longer willing to pay a premium for an EV vehicle versus a comparable internal-combustion or hybrid alternative.
While executives emphasized that Ford isn't cutting back on or delaying its plans to develop a range of more advanced EVs, investors concerned about the company's ability to compete with