Ford’s status as the biggest recaller in the industry isn’t only offputting to drivers thinking about buying one of its products, it’s also putting off investors. Ford stock fell by 11 percent after the company revealed disappointing financial results it blamed on rising warranty costs.
The cost of remedying quality glitches post-registration grew by $800 million in Q2, a period for which Ford reported a net income of $1.83 billion (46 cents per share) compared with $1.92 billion (47 cents per share) for April to June 2023. Analysts has expected earnings per share of 68 cents for the second quarter, CNBC reports.
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