- Ford sees $3 billion gross tariff hit in 2025, up from previous $2.5 billion estimate
- Automaker said tariffs added $800 million in expense in the second quarter
- Ford issues annual guidance of EBIT $6.5 billion-$7.5 billion
DETROIT, July 30 (Reuters) – Ford Motor (F.N), opens new tab said on Wednesday that U.S. tariffs on imported vehicles, as well as on steel and aluminum, will likely cost more than expected for the year, and the automaker’s shares slid about 3% in after-market trading.
Ford reported that second-quarter results took an $800-million hit from tariffs, a less pronounced impact than some of its U.S. rivals thanks to Ford’s strong domestic manufacturing base. For the full year, the automaker lifted the higher range of its projected hit to gross revenues from tariffs by $500 million, to $3 billion.
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