Trillions of US stimulus fails to pick Ford out of its losses

The $4.5 trillion U.S. stimulus package (2.3 trillion U.S. Central + 2.2 trillion from the House of Representatives) has been unable to rescue Ford from a loss hemorrhage, which is expected to exceed $600 million in the first quarter of 2020.

Ford Motor, the automaker, said Monday. The new Corona virus pandemic (COVID-19) will severely hurt its revenues, and expects to record $600 million of pre-tax losses in the first quarter of this year, leading to a sharp decline in the company’s share during today’s trading.
Ford mentioned that it expects that its revenues will reach 34 billion dollars in the first quarter of this year, a 15% drop from the same period last year. The sales of its cars in bulk decreased during the first three months of this year by 21% annually.
Ford shares retreated in today’s dealings by about 5%, while the US stock market witnessed a retreat in general.
Ford mentioned in a statement that “the branch is affiliated with it in China only that produces cars and sells them now. As the crisis of Corona virus decreased in China, which witnessed the crisis’s crisis before”.
It is still unclear when work in the US car industry will resume after it stopped last month, within the measures of fighting the new Corona virus.
Yet, in his official Twitter account, US President Donald Trump sent a strongly-worded message to the US rulers, saying, “the decision to reopen the US economy is his decision, not that of the state governors”.
The US Federal Reserve Board launched the Central American Reserve on Thursday. Large-scale measures worth $2.3 trillion to support local governments and small and medium-sized enterprises.
Last week, the US House of Representatives approved a $2.2 trillion package, the biggest in the US history, to help individuals and companies face the economic slowdown resulting from the spread of Corona virus. And providing hospitals with much-needed medical supplies.