Why Ford Is Blaming Costlier Metals for a ‘Bad Year’ Ahead
- Raw materials, currency expected to be $1.6 billion headwind
- More is weighing on Ford than commodity prices, Barclays says
Ford Blames Pricey Metals for Bad Year
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Ford Motor Co. Chief Executive Officer Jim Hackett has already called 2018 a “bad year,” casting some of the blame on costlier raw materials used to build cars.
It’s an excuse that’s both valid and not the whole story for Ford, which reports quarterly earnings after the close Wednesday. Rising prices for steel, aluminum and other metals are exacerbating issues including the automaker’s outsize reliance on its popular F-Series pickup line that’s facing new competitive pressures.