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MarketScreener Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

FORD MOTOR COMPANY

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Ford Motor : GM, Ford planning for possible economic downturn - executives

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08/13/2019 | 01:35pm EDT
FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant after company announced its closure in Sao Bernardo do Campo

(Reuters) - The top two U.S. automakers are preparing for a possible economic downturn, the companies said on Tuesday, as an ongoing trade war between Washington and Beijing fuels fears of a global recession.

Tit-for-tat tariffs have increased raw material costs for the global auto industry, which is already dealing with weak demand in both China and the United States.

Ford Motor Co has a cash buffer of $20 billion (16.57 billion pounds) for a potential downturn event, Ford North American Chief Financial Officer Matt Fields said at a J.P. Morgan Conference in New York.

General Motors has $18 billion in cash, with the potential to pay two years worth of dividends, the company's finance head, Dhivya Suryadevara, said at the conference.

GM has modelled both moderate and severe downturn scenarios similar to 2008-2009 to get a sense of how it might affect profitability and cash flow at the No.1 U.S. car manufacturer, Suryadevara said.

"It's something that we continually keep watching and updating to make sure that we're all set for when the downturn does come," Suryadevara said, adding that company does not see an imminent downturn.

Deferring non-essential capital expenditure and considering a shift to lower-priced vehicles are among the few things GM will look at as part of its "downturn planning" to save costs.

Ford said it was "proactively" evaluating its future moves, as it works with economists to model the severity of a possible recession.

Fear of a recession has dominated trading on Wall Street this year and spurred a bout of extreme volatility following President Donald Trump's announcement of a new round of tariffs on Aug. 1.

(Reporting by Sanjana Shivdas in Bengaluru and Ben Klayman in Detroit; Editing by Anil D'Silva)

By Ben Klayman

Stocks treated in this article : Ford Motor Company, General Motors Company
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 1.13% 8.96 Delayed Quote.15.82%
GENERAL MOTORS COMPANY 1.45% 37 Delayed Quote.10.61%
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Financials (USD)
Sales 2019 145 B
EBIT 2019 6 209 M
Net income 2019 3 636 M
Finance 2019 7 990 M
Yield 2019 6,71%
P/E ratio 2019 10,3x
P/E ratio 2020 6,64x
EV / Sales2019 0,19x
EV / Sales2020 0,19x
Capitalization 35 749 M
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Technical analysis trends FORD MOTOR COMPANY
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 11,01  $
Last Close Price 8,96  $
Spread / Highest target 45,1%
Spread / Average Target 22,9%
Spread / Lowest Target -8,48%
EPS Revisions
Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Joseph R. Hinrichs Executive VP & President-Global Operation
Robert L. Shanks Chief Financial Officer & Executive Vice President
Jeff Lemmer Vice President & COO-Information Technology
Sector and Competitors
1st jan.Capitalization (M$)
FORD MOTOR COMPANY15.82%35 350
TOYOTA MOTOR CORP9.87%179 929
VOLKSWAGEN AG0.68%78 292
GENERAL MOTORS COMPANY10.61%52 069
DAIMLER AG-10.16%48 146
BMW AG-15.76%42 459