From CNBC: 2024-07-25 16:11:01

Ford Motor is facing a decline in stock value after disappointing earnings and investor doubt. Shares closed at $11.16, dropping 18.4%. General Motors and Stellantis experienced similar declines after reporting poor results. Tesla, however, saw a 2% increase after a previous drop. The traditional automakers are struggling due to industry uncertainty.
GM closed at $44.13, down 5%, despite exceeding expectations for Q2. Stellantis reported “disappointing” first-half results due to ongoing issues. Stellantis stock closed at $18.09, down 7.7%, near a 52-week low. Despite challenges, Stellantis reconfirmed its 2024 guidance, emphasizing the need for performance in a tough industry.
Ford executives reaffirmed 2024 guidance despite missing earnings per share expectations. Unexpected warranty costs impacted earnings, but $10-$12 billion in adjusted EBIT is projected. Analysts expressed concern over Ford’s reemerging warranty costs but remained optimistic about the business. Tesla’s stock closed down 12% due to weaker-than-expected earnings and declining revenue.



Read more at CNBC: Ford, GM, Stellantis stocks fall after disappointing earnings reports