https://finance.yahoo.com/news/ford-posts-strong-third-quarter-200636275.html
6 replies (most recent on top)
There's no "propping up" Ford Credit with residuals. The used car market values have increased in value so much that people are buying their vehicles (SUVs & trucks usually) off lease because the buyout value is $5k less than the actual value of the vehicle. Anyone who turns in their lease has the vehicle sent to auction and Ford Credit pockets the money!
All major spending other than vehicle launches/recalls has been delayed until 2021
Ford has lost almost $2 BILLION year to date, almost half from the Mobility group.
Mobility spent $1.02 BILLION to gain $43 million in operating revenue, but we're going to fix that by selling software. Pay attention to the "other" revenues, that's where the income statement magic happens, and propping up Ford Credit through residual value miracles. This is just not sustainable.
I call bull$#!t. What kind of bookkeeping magic did Ford do to make themselves look good?
The Mobility group lost more money ($719 MILLION) in the first nine months of 2020 than the entire automotive group earned ($667 MILLION). That is just not sustainable.
Just curious if the 1400 VIP target topic/layoffs came up in the Q&A?