Ford Motor has reported nearly $ 2 billion loss and recorded a significant decline in revenue in the first quarter of 2020, the company said in a report.
Ford's revenue in the first quarter was $ 34.3 billion, a decrease of 15% compared with the same period last year. Losses reached $ 2 billion. In the first quarter of 2019, a profit of $ 1.1 billion was recorded. During the reporting period, ford reduced wholesale by 21% compared to the first quarter of 2019.
The company attracted credit lines of over $ 15 billion and issued debt obligations of $ 8 billion.
On March 18, the leadership of three American automotive giants General Motors, Ford and Fiat Chrysler agreed to temporarily close all their plants in the United States due to the spread of coronavirus. This measure affected about 150 thousand employees of these enterprises.