GM And Ford Fear Economic Downturn As Trade Wars Loom

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 for a potential downturn event, Ford North American CFO Matt Fields said at a J.P. Morgan Conference in New York.

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MDarringer - 8/14/2019 7:54:05 PM

-1 Boost

click
75%-er bait.
CTRL + V spew
#incoming

OneOfOne - 8/15/2019 10:30:59 AM

+1 Boost

wouldn't fear it if they had better products