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auto industryCNBC
•84% Informative
Wall Street has been waiting for that set of circumstances for some time, with the cyclical nature of the auto industry ushering in a down period.
The U.S. market a profit engine for most automakers is normalizing after years of record high prices, low vehicle inventories and resilient demand.
Ford avoided bankruptcy in 2008-2009 , but the freefall in shares after the company missed Wall Street's earnings expectations is the leading example of the uphill battle automakers face for the remainder of the year .
Ford CFO John Lawler altered the company's guidance for the last six months of the year .
Expectations for full-year EBIT are up for Ford Pro , to a range of $9 billion to $10 billion .
Stellantis CEO Carlos Tavares said many of the firm's problems stem from its U.S. operations, which he previously said were impacted by "arrogant mistakes".
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