Ford announced on Monday that rising inflation will cause supplier costs to be $1 billion
more than anticipated in the third quarter.
There is a backlog of thousands of assembled
due to supply issues. Between 40,000 and 45,000 unfinished automobiles are expected,
the majority of which are high-margin trucks and SUVs, according to Ford.
5.49% of the shares dropped
Since the COVID-19 epidemic hit in early 2020, the automotive sector has struggled with supply chain
For instance, Rivian issued a warning in August, stating that it expects to lose $5.45 billion in 2022,
up from the $4.75 billion estimate it provided three months earlier because of "supply chain challenges,"
raw material inflation," and shortages of semiconductor chips that created bottlenecks at its factories.
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