. Ford admitted to having quality-related issues with vehicles from 2021 and earlier, so investors should wait for further action from the company before considering buying the dip in Ford stock.
Admittedly, not all of the data points were bad. In particular, Ford’s revenue grew 6.2% year over year to $47.8 billion. Furthermore, Ford spent a whopping $4.8 billion fixing its customers’ vehicles in 2023, according to Warranty Week magazine . For context, that rate is about three times greater than the industry average vehicle-repair cost.
Farley added that these measures make the firm’s quarters “lumpy”, but that it will reduce warranty over time. However, judging by the 20% drop in stock price, the market hasn’t put much faith in the assumption that things will only get better for Ford.
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