Ford says outlook for 2nd quarter is bettering – KIRO 7 Information Seattle


Ford’s outlook for the second quarter improves as the automaker sees strong customer reservations for four of its new vehicles.

Ford Motor Co. now assumes that the quarterly adjusted earnings before interest and taxes will exceed expectations and be well above the prior-year period.

Although semiconductor supplies are still uncertain, Ford sees an improvement in its automotive business due to lower-than-expected costs and favorable market factors. Increased auction values ​​for vehicles also contribute to this.

President and CEO Jim Farley will attend Deutsche Bank’s Global Auto Industry Conference on Thursday afternoon. He will announce that reservations for the revived full-size Bronco SUV have grown to 190,000, of which 125,000 have already been converted into orders. The vehicle is now in production. There are also 100,000 reservations for the battery-electric F-150 Lightning pickup; 36,000 for the new compact Maverick pickup and 20,000 for the fully electric E-Transit van.

Ford is taking refundable deposits of $ 100 for Bronco and Lightning reservations. No deposits are required to reserve the Maverick and E-Transit.

Ford is expected to announce its second quarter results on July 28th and provide an outlook for the second half of the year.