Ford to provide update on financial impact of chip shortage next month

Ford to provide update on financial impact of chip shortage next month

Channel NewsAsia - Business·2021-04-01 06:02

DETROIT: Ford Motor said on Wednesday, while announcing the latest North America production cuts at seven assembly plants due to the global chip shortage, that it would provide an update on April 28 to the expected hit to its 2021 profit.

The US automaker previously said its operating profit this year would be reduced by US$1 billion to US$2.5 billion. The update to that forecast will be provided when Ford reports first-quarter results on April 28. A spokeswoman declined further comment.

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