Ford is still getting battered by product shortages as supply chain issues continue to undermine the auto industry.
Ford's stock fell 12.3% Tuesday after the company said late Monday that it expects to have 40,000–45,000 cars nearly finished but lacking crucial parts at the end of the third quarter.
In pre-pandemic times, automakers typically did not have to park unfinished cars in large quantities while waiting for parts.And inflation pulsing through the supply chain is expected to cost the company $1 billion more than previous expected, it added."While we have been hearing ... about the marginal improvement of the supply chain, Ford's announcement shows that we are not yet out of the woods," Morgan Stanley analyst Adam Jonas wrote in a research note.
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