Ford announces $1bln increase in supply chain costs during third-quarter

U.S. automaker Ford Motor announced on Monday that the high inflation and a lack of component supplies have led to an extra $1 billion, which higher-than-expected number of semi-finished cars.

The company expects to complete the missing components in between 40,000 and 45,000 vehicles, especially sports-equipped SUVs, and deliver them to distributors during the last quarter of this year.

The automaker forecasts third-quarter adjusted earnings before interest and taxes to be in the range of $1.4 to $1.7 billion.

Ford has confirmed its expectations for operating profits for the current year as a whole between $11.5 and $12.5 billion. The company is scheduled to announce the full results for third-quarter to year 2022 on October 26.