Where Will Ford Motor Be in 5 Years?
The coronavirus pandemic has crashed the global economy, with companies involved in transportation hit the hardest. Ford (NYSE: F) has certainly not proved immune, having shut down much of its production during the early days of the spread of the disease, under both government-required closures, and the reality that auto sales were set to plummet as more people lost their jobs.
Fast-forward to today, and 27.5 million Americans are unemployed, millions more are dealing with reduced hours, and even more "gig economy" workers classified as contractors and not employees are also out of work. That's a lot of people not likely to buy a new car anytime soon.
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Source Fool.com
