Quarterly figures
Ford raises goals despite chip crisis
Ford does better than expected in the third quarter despite the global chip crisis. Photo: Gerry Broome / AP / dpa
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Ford has presented its quarterly figures and these show that the US automaker is getting through the crisis better than expected, despite the global chip shortage.
The second largest US automaker, Ford, performed better than expected in the third quarter despite the global chip crisis and raised its profit targets.
For the full year 2021, adjusted operating profit between 10.5 billion and 11.5 billion dollars (9.9 billion euros) can be expected, Ford announced after the US market closed. The previous forecast was a maximum of ten billion dollars. The share initially reacted after the trading session with a price jump of five percent.
In the past quarter, profits and sales fell sharply in view of the weakened production due to the semiconductor shortage, but less than assumed by analysts. Ford also stated that the supply situation has now eased significantly. The bottom line was that the company made $ 1.8 billion in the quarter. That was around 600 million less than a year ago when the US auto market celebrated a comeback after the first corona shock. Group-wide revenues fell five percent to $ 35.7 billion.