Ford has warned of a profit hit of up to $2bn from a fire at an aluminium supplier’s plant in New York, prompting a downgrade in its annual guidance.
The September 16 fire at the plant operated by Novelis has shut down production of aluminium sheets that are widely used by the car industry in the US, including by Ford and Stellantis.
On Thursday, Ford said it expected an adjusted operating profit of $6bn-$6.5bn for the full year, compared with its earlier target range of $6.5bn-$7.5bn. The downgraded forecast included up to $1bn in net tariff impact, which was smaller than the $2bn net hit it projected in July.
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