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Ford Posts Weak Q4 Earnings Losing $1.7 Billion
”Financially, the company’s 2019 performance was short of our original expectations, mostly because our operational execution, which we usually do very well, wasn’t nearly good enough,” said Chief Executive Jim Hackett in an understatement. Revenue fell 5% to $39.7 billion from $41.8 billion a year ago. Global sales, share, earnings, and profits all decreased. Warranty costs reached $5 billion in 2019, up $1.5 billion in recent years — and fixing vehicle launch problems that have also cost an estimated $1 billion. Continue reading →