Ford Motor Has Enough Cash To Last At Least Through September, CFO Says
Ford Motor Company (NYSE: F) said on Monday that it has enough cash, $30 billion, to stay afloat through at least the end of September even if it can't reopen its closed factories before then.
In a preliminary release of its first-quarter results, Ford said that that it had about $30 billion in cash as of April 9, including $15.4 billion borrowed from its lines of credit in March. The company closed nearly all of its manufacturing facilities around the world in March in response to the coronavirus pandemic.
Ford closed its factories in North America and Europe in March. That decision has already cost it billions in revenue. Image source: Ford Motor Company.
Source Fool.com
