Thndr Claps » U.S. Claps » Automotive 🚗 » Ford wary of increasing costs 🚙
The ClapFord (NYSE: F) expects a $1 billion increase in costs during Q3 2022 due to supply chain shortages and inflation.The DeetsAccording to Ford, supplier costs increased due to inflation and will be much higher than expected initially.The pandemic sparked a struggle with supply chain issues in the automotive industry as production was almost completely halted. Shortages of parts continue to affect the industry to this day.Why this MattersFollowing the news, Ford’s stock price dropped by around 5% in extended trading.What NowThe company will provide more guidance regarding the coming quarters when it reports Q3 earnings in October.
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