Effingham, IL-(Effingham Radio)- Ford is posting its first quarterly loss in two years after getting hit with 800-million dollars in tariff costs. The Michigan carmaker reported over 50-billion dollars in revenue in the second quarter, but reported a loss of 36-million dollars in its net income.
Ford lost nearly 600-million dollars due to a recall, and its Model e electric vehicle lost over billion dollars in the quarter. It also reported 800-million dollars in tariff costs. Ford is estimating a net tariff cost this year of about two-billion dollars, due mostly to tariffs on steel and aluminum.
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