DIESEL WORLD MAGAZINE COMPILED BY DW STAFF
No one wants a recession, but many big names are making moves to prepare for what may be coming as a result of the coronavirus pandemic. After reporting a 21-percent drop in wholesale vehicle sales through the fi rst quarter of 2020, Ford is taking measures to weather the coming storm. In March, the company placed additional cash on its balance sheet (pulling from two existing credit lines), suspended regular dividends, and withdrew all 2020 fi nancial guidance. However, it’s not all doom and gloom at FoMoCo, as a phased restart of production and associated functions at the beginning of the second quarter is being considered. Ford also believes its present cash balance will be suffi cient through at least the end of the third quarter.
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August 2020
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