Ford Shares Plunge 18% as Company Faces Major Warranty Issues and Misses Earnings Expectations

Benzinga
Benzinga
  • 2 months ago
Ford shares had their worst day since 2008, dropping over 18%, after the company missed earnings expectations due to recurring warranty issues.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Ford shares had their worst day since 2008, dropping over 18% after the company missed
00:08earnings expectations due to recurring warranty issues.
00:11Ford saw a massive increase in warranty costs compared to the previous quarter.
00:15While several Wall Street analysts expressed frustration over the rising warranty costs,
00:20optimism about Ford's core business operations remained.
00:23Shares of General Motors and Stellantis declined after reporting their results, while Tesla
00:27shares rose 2% Thursday following their largest single-day drop since 2020 on Wednesday.
00:32For all things money, visit Benzinga.com.

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