The same goes for Ford rivals also. US sales of General Motors slipped 11% in Q3, while that of Toyota fell 6%. However, Fiat managed to buck this trend by posting a 10% increase in sales in the third quarter.
Meanwhile, profits have not been dented much, as average transaction price per vehicle increased to $1,500. The automakers’ decision to cut a good portion of its workforce should also ensure enough liquidity within the stock.
China, Europe issues force Ford Q2 profit down
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Investors are waiting to see how CEO Jim Hackett is planning to restructure the company and would be keenly listening for any hints on the same. The impact of the US-China trade war on the production and distribution of goods into the Asian market is also likely to be discussed during the Q3 earnings conference call.
Ford shares have shed 32% of its value during the year-to-date period.