Ford Explorer News
Ford Motor Co on Wednesday closed two U.S. assembly plants as the coronavirus pandemic wreaked early havoc with the No. 2 U.S. automaker's plan to restart North American production and begin making its most profitable vehicles again. Ford closed its Dearborn, Michigan, plant due to a positive COVID-19 test by one worker, while its Chicago assembly plant was closed due to a parts shortage, Ford spokeswoman Kelli Felker said.
Plus the Subaru Outback, and a deep dive into the mailbag
Ford Motor Co.'s profit last year plunged by more than $3.6 billion, weighed down by slowing U.S. sales, the cost of a botched SUV launch and some big pension expenses. The Dearborn, Michigan, automaker said it made $47 million in 2019, down from a $3.68 billion profit a year earlier. For the fourth quarter the company lost $1.7 billion, or 42 cents per share, hit by $2.2 billion in one-time pension costs.