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MarketScreener Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

FORD MOTOR COMPANY

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Ford delays Bronco SUV launch due to coronavirus issues at suppliers

12/04/2020 | 05:42pm EST
A Ford Motor Co. Bronco is seen outside the NYSE in New York

DETROIT (Reuters) - Ford Motor Co is delaying the launch of its Bronco SUV next year to the summer from the initial spring target due to coronavirus-related issues with its suppliers, a company spokesman said on Friday.

"Deliveries will begin the summer rather than the spring. That's being driven by COVID-related challenges some of our suppliers are experiencing," Ford spokesman Said Deep said.

The suppliers, which Ford did not identify, have had development work for tooling delayed by the pandemic, Deep said. Asked whether the launch could face further delays, Deep said Ford was monitoring the outbreak closely.

The pandemic caused the U.S. auto industry to shutter plants for two months earlier in the year, but since production restarted automakers have been largely successful in preventing the spread of the virus within their facilities.

Ford still expects to begin building the Bronco at its Michigan Assembly Plant in Wayne, Michigan in the spring, Deep said. The Dearborn, Michigan-based company is already shipping the smaller Bronco Sport, which is built in Mexico.

Customers' ability to place orders for the Bronco also has been delayed from Dec. 7 to mid-January, Deep said.

Earlier on Friday, industry officials said a shortage of chips used in auto manufacturing could disrupt vehicle production in China well into next year. Deep said Ford's issues were not related.

(Reporting by Ben Klayman; Editing by Leslie Adler and Will Dunham)


© Reuters 2020
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Financials (USD)
Sales 2020 117 B - -
Net income 2020 274 M - -
Net cash 2020 4 711 M - -
P/E ratio 2020 -319x
Yield 2020 1,50%
Capitalization 39 864 M 39 864 M -
EV / Sales 2020 0,30x
EV / Sales 2021 0,23x
Nbr of Employees 190 000
Free-Float 98,0%
Chart FORD MOTOR COMPANY
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Ford Motor Company Technical Analysis Chart | F | US3453708600 | MarketScreener
Technical analysis trends FORD MOTOR COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 9,84 $
Last Close Price 10,02 $
Spread / Highest target 29,7%
Spread / Average Target -1,78%
Spread / Lowest Target -29,1%
EPS Revisions
Managers and Directors
NameTitle
James D. Farley President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
John T. Lawler Chief Financial Officer & Vice President
Kenneth E. Washington Chief Technology Officer
John Lawson Thornton Independent Director
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