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S 2 of the largest South American car manufacturers Ford Motor and General Motors are preparing for a likely financial decline . Adherents of the firms reported this , as the ongoing trade battle between the USA and China is fueling fears of a massive recession, reports Reuters .
The reciprocal tariffs have pushed up commodity prices for the global auto industry, which is now positioned to be hit by weak demand in China and the US . website website
According to Matt Fields, Ford North American ‘s chief money officer , Ford Motor has a $20 billion foreign exchange buffer against a possible financial regression .
General Motors has $18 billion with the potential to pay dividends in 2 years, Divya Suryadewara , head of the firm’s cash department , said at the conference .
Mutual duties of Washington and Beijing increased prices for raw materials for the global auto industry
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GM is considering strategies to save money in the event of an economic crisis, including postponing non-essential capital expenditures and considering switching to cheaper vehicles.
Ford said it is «proactively» evaluating future moves, working with economists to determine the severity of a possible recession.
