Ford Motor Co. shares had their worst drop in four years after a big earnings miss that the automaker blamed on a surge in warranty repair costs for older vehicles. Recurring quality problems have driven up Ford’s warranty costs for years, but an $800 million spike in the second quarter caught investors by surprise. Chief Financial Officer John Lawler called it a “one time” jump due to quality-related issues for models built in 2021 and earlier. Bloomberg’s Norah Mulinda shares details with Alix Steel and Paul Sweeney.
——–
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
WATCH HERE: http://bit.ly/3vTiACF
Follow us on X: https://twitter.com/BloombergRadio
Subscribe to our Podcasts:
Bloomberg Daybreak: http://bit.ly/3DWYoAN
Bloomberg Surveillance: http://bit.ly/3OPtReI
Bloomberg Intelligence: http://bit.ly/3YrBfOi
Balance of Power: http://bit.ly/3OO8eLC
Bloomberg Businessweek: http://bit.ly/3IPl60i
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay: https://apple.co/486mghI
Android Auto: https://bit.ly/49benZy
Visit our YouTube channels:
Bloomberg Podcasts: https://www.youtube.com/bloombergpodcasts
Bloomberg Television: https://www.youtube.com/@markets
Bloomberg Originals: https://www.youtube.com/bloomberg
Quicktake: https://www.youtube.com/@BloombergQuicktake
