Automakers

Ford warning jolts the industry

AutoNation CEO Mike Jackson is criticizing Ford for setting unreasonable stair-step incentive targets, saying the retailer's Ford stores have been given targets to hike sales by up to 40 percent in the third quarter.
July 31, 2016 05:00 AM
Ford results

 Change from Q2 2016Q2 2015
Net income$1.97 billion–9%
North America pretax profit$2.7 billion–5%
Europe pretax profit$467 million190%
Ford Credit pretax profit$400 million–21%
Revenue$39.5 billion6%
Cash flow$4.2 billion121%
   
Source: Ford

DETROIT -- After boasting of record profits earlier in the year, Ford Motor Co. last week dropped a profit warning as jarring as concrete blocks hitting the bed of an aluminum pickup.

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