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Ford CEO expects chip shortage impact to bottom in second quarter

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Ford CEO Jim Farley said on CNBC Wednesday that he expects the chip shortage impact on business to get worse before it improves, but the automaker will be set up for a strong 2022.

“Second quarter is going to be the trough for us,” he told Jim Cramer in a “Mad Money” interview. “We think this quarter is going to be our most difficult.”

Farley, who began leading the Dearborn, Michigan-based company in October, is counting on the landscape to brighten later this year.

“We do count on a rebound in our production in the second half,” he said, adding that 2022 “is going to be an incredible year for us.”

The comments come after Ford reported numbers from the first quarter at the end of the trading…



Source cnbc.com

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