Ford Motor Co’s latest reports show losses in the fourth quarter of 2016 and a dim outlook for 2017.
Editor’s Remarks: The US’ second-largest car maker reported a loss of $783m and forecasted that its 2017 profits would be even lower. The hit is in no small part due to an accounting remeasurement which ate $2bn out of its net income, as well as $200m in costs due to scrapping plans for a plant in Mexico. Ford’s bad news was largely expected – hence the hit to its shares coming in at only 1% down as of Thursday’s premarket trading – but it will still have a bumpy ride in the coming year as its rivals GM and Fiat Chrysler have more positive forecasts for 2017.
What to watch: Ford Motor Co, General Motors, Fiat Chrysler, Honda Motor, Volkswagen