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Donald Customs Trumps squeeze the American car giants. General Motors, Fiat Chrysler and Ford have all been forced to cut their profit forecasts.
On Wednesday, "Big 3", General Motors car manufacturers, Fiat Chrysler and Ford reported its results for the last quarter.
The largest automaker of the United States, General Motors, including Cadillac, Buick and Chevrolet, exceeded market expectations and reported a profit of $ 2.4 billion, up to $ 21 billion. dollars, and revenues of up to SEK 322 billion.
However, the t does not help the company to lower the annual earnings forecast to $ 6 per share, from about $ 6.5 per share
". GM CEO Chuck Stevens in the quarterly report
Ford, the next largest US automaker, reported a profit of $ 9.6 billion, a halving from the same last year and sales fell more than 4% to about 340 billion .The figures were worse than the market counted.
The company is struggling with problems in the Chinese market and like GM, is forced to reduce profit forecasts.In advance, the estimated profit is reduced from $ 1.45-1.70 per share to $ 1.30-1.50 per share. calculated earnings per share of $ 1.52
Trean on the market Fiat Chrysler, with auto brands Mobile phones like Jeep, Dodge and Alfa Romeo, announced a second quarter profit of $ 7.8 billion and a business figure of nearly $ 297 billion.
The company relies on its competitors and reduces the forecast of turnover and operating profit in full year. The company is now targeting a turnover of around 115-118 billion euros for the year 2018. The previous forecast was 125 billion euros.
The three car manufacturers have the same problem with high commodity prices, Trump's administrative rates and unfavorable exchange rates.
Corporate reports were also welcomed by the stock market which sharply lowered prices and the deal continues Thursday, despite positive signals from the meeting of Donald Trump and the President of the European Commission. York after a fall of nearly 12 percent Wednesday. Ford down 5% and GM down 2%.
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