The Detroit 3's continued recovery from global supply chain shortages led to improved first-quarter financial results, but that recovery could be threatened amid an uncertain economic outlook.
A week after General Motors raised guidance after posting net income of $2.4 billion on 11 percent more revenue, Ford Motor Co. reported $1.8 billion in net income and a 20 percent revenue increase, while Stellantis announced a 14 percent revenue increase. All three companies cited stronger sales backed by a healthier mix and improved pricing.
Still, investors voiced concern after Ford declined to raise its full-year guidance. CFO John Lawler called the macroeconomic environment in the second half of the year "opaque at best" with challenges that include rising incentives, smaller-than-expected relief in commodity prices and a potential financial hit from new UAW contracts and signing bonuses.