Ford Motor Co. on Wednesday maintained its profit forecast for the year, thanks to strong prices for its vehicles.
The automaker reported a net loss of $3.1 billion in the first quarter, which he mainly attributed to a lower valuation of his stake in electric vehicle maker Rivian Automotive Inc.
Ford said it still expects $11.5 billion to $12.5 billion in operating profit, despite the war in Ukrainesupply chain disruptions, inflation and rising US interest rates that have affected the industry.
The company also said it expects the strong pricesbetter availability of semiconductors in the second half of the year and wholesale volume growth of 10 to 15 percent.
rrg