Due to fallout from the coronavirus pandemic, the automaker envisions an adjusted pretax loss of $5 billion in 2020's second quarter.
April 29, 2020
April 29, 2020—Ford lost $2 billion in the first quarter and warned investors that number will likely get larger, according to a report by CNBC.
The number is expected to top $5 billion during the second quarter. During the second quarter, the automaker plans to execute a phased reopening of domestic plants beginning as early as next month.
As of last Friday, the company had $35 billion in cash after paying its suppliers and, according to the report, that number is enough to get the company through the end of the year without any production.
