Whats different for tax year 2023 is when the money you make will be taxed at various rates. DETROIT Ford Motor recorded a net loss of $827 million during the third quarter, weighed down by supply chain problems and costs related to disbanding its autonomous vehicle unit Argo AI. A profit-sharing plan is a type of defined-contribution plan. Cox: Automation and the future of automotive retail, Cox: Transformation toward eCommerce in automotive retailing, Cox: Transforming F&I for Automotive eCommerce, Deloitte: ACCELERATING DIVERSITY, EQUITY AND INCLUSION, Easycare: Reinventing the service contract for EVs, Easycare: The importance of benchmarking your reinsurance performance, Effectv: Why Customer Lifetime Value Should Be the Auto Advertising Buzz Word for 2023, Experian, GroundfTruth and Spectrum Reach: Dealership marketing: Navigating automotive advertising in a post-pandemic world, Experian: Evolving identity beyond the who to enable the how, Experian: Three steps to adapting to constant change in automotive marketing, HAIG: BUY-SELL Q&A | Valuing dealerships In uncertain times, Haig Partners: Buy-Sell Q&A: Where the Automotive M&A Market is heading, Haig: Buy-Sell Q&A | Advisors add value to sales process, Haig: Buy-Sell Q&A | Navigating partial dealership sales, Haig: Buy-Sell Q&A: Future-proofing your dealership. Joe covers a wide range of auto and transport industry subjects, writes The Auto File, a three-times weekly newsletter about the global auto industry. But the combination has also meant high vehicle prices, especially for Ford's most profitable rides, which have helped translate into higher profit-sharing for workers. But he stressed that would not include layoffs similar to those recently announced by other companies, especially big names in the tech sector. The amount of the checks is tied to Ford's North American pretax profits, which were down last year. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Ford ended the year with more than $36 billion in cash and $52 billion in liquidity, which Lawler said would help it implement changes as it evolves its business. 48207-2997, Automotive News Contact Eric D. Lawrence: elawrence@freepress.com. Ford said it has 275,000 orders for its electric F-150 Lightning, Transit vans and Mustang Mach-E utility vehicles, and expects to double electric vehicle production capacity to 600,000 vehicles a year by 2023. Heres what you need to know. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Still, the automaker was able to narrowly beat Wall Street's subdued expectations for the period and guided to the lowest end of its previously forecast earnings for the year. See here for a complete list of exchanges and delays. This article originally appeared on Detroit Free Press: Ford's UAW workforce to get average of $7,377 in profit-sharing checks, when workers received checks totaling $3,625, $10,250 checks for UAW-represented General Motors workers, GM's UAW workforce profit-sharing check will top $10,000, Judge OKs direct elections for UAW president, other top leaders, Ford's UAW workforce to get average of $7,377 in profit-sharing checks. CFO John Lawler said the high end of that EBIT range would imply an adjusted-EBIT margin of 8 percent, including 10 percent in North America. Fords fourth-quarter net income, up from a $2.8 billion loss a year earlier, included a $8.2 billion gain from the automakers investment in Rivian, the EV maker that went public in November, though Ford was in the black for the quarter even without that and other one-time items. GM expects to achieve 30% to 50% of that $2 billion cost reduction this year, he said.
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