"Ford's $1.3 billion one-time tariff-related benefit significantly boosted its profits to $2.5 billion, despite underlying business showing mixed signals with a 4% drop in wholesale volumes."
"The Supreme Court ruled that President Trump's 'Liberation Day' tariffs were illegal, leading companies like Ford to file claims for cost recovery, while still facing billions in tariff costs."
Ford announced a $1.3 billion one-time tariff-related benefit, significantly impacting its profits, which reached $2.5 billion. Revenue increased by 6% to $43.3 billion, although wholesale volumes fell by 4%. The Supreme Court's ruling on illegal tariffs prompted companies to seek cost recovery. General Motors also reported a $500 million tariff benefit. Despite these gains, automakers face ongoing tariff costs, with Ford anticipating about $1 billion in related expenses this year due to a 25% tariff on automotive parts and vehicles.
Read at www.businessinsider.com
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