Ford said it will stop shipping up to 45,000 near-complete vehicles to dealerships in the third quarter of this year due to lack of components. In July, about 53,000 cars had not been completed.
The automaker said on Monday that the parts would cost $1 billion more than expected this quarter due to inflation and shortages of some parts.
The company and other automakers have been hampered by a lack of chips for nearly two years. Industry executives had expected the tightness to ease in the second half of 2022, but Ford’s warning indicates that supply chain chaos continues to hamper automakers and could drag on into 2023.
The automaker has warned that many of the incomplete models include high-margin trucks and sport utility vehicles, which generate a significant portion of Ford’s profit.
The company said it now expects to report adjusted earnings before taxes and fees of $1.4 billion to $1.7 billion in the third quarter. But Ford sticks to its previous full-year adjusted profit forecast of $11.5 billion to $12.5 billion.
To achieve this target, the company will need a strong performance in the last three months of the year, given the higher costs in the period from July to September. The company will release its third-quarter results on October 26.
Translated by Luiz Roberto M. Gonçalves
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