June 21, 2021—Ford said Thursday its second quarter earnings will “surpass its expectations” and be significantly higher than last year, CNBC reported.
Ford previously said it expected to lose about 50 percent of its planned second-quarter production due to the semiconductor shortage, up from 17 percent in the first quarter.
However, the new income will be “substantially lower” than last year, when results included a $3.5 billion gain in an investment in its self-driving Argo AI unit with Volkswagen.
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Ratchet+Wrench Staff Reporters
The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.
