<p><strong>福特汽车公司</strong>(F 1.23%) 在 2025 年面临了不少问题。它不仅正在应对关税影响的剧烈波动和取消 7500 美元电动车（EV）购车联邦税收抵免的挑战，而且这家底特律的标志性企业还正在创下全年汽车召回的记录。</p>
<p>现在，即使这家汽车制造商忙于解决其可控的问题，一个新的问题出现了——这可能会让汽车制造商损失高达 10 亿美元的息税前利润（EBIT）。</p>
<h2>发生了什么？</h2>
<p>惊喜，福特投资者！如果你在本周的任何时候希望看到更好的新闻，遗憾的是你失望了——而且财务影响将非常严重。根据 <strong>Evercore</strong> ISI 的分析师，纽约一家铝厂的火灾预计将限制福特高利润的 F-150 全尺寸卡车的生产数月。</p>
<p>由于同样的铝厂火灾，福特还暂停了在密歇根州迪尔伯恩生产 F-150 Lightning 电动皮卡。这是一个不幸的发展，因为在第三季度，F-150 Lightning 的销量增长了近 40%，成为美国最畅销的电动皮卡。</p>
<p>一份与工人共享的备忘录被 <strong>路透社</strong> 查看并报道，指出 Rouge 电动车中心将从下周开始停工。这一不幸事件始于 9 月 16 日在纽约奥斯威戈的 Novelis 工厂发生的火灾，并将影响福特最畅销的 F-150 卡车在 2025 年剩余时间的铝供应。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc0MzMvZi0xNTBfbGlnaHRuaW5nX3BsYXRpbnVtX29uLXJvYWRfMDQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="418" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc0MzMvZi0xNTBfbGlnaHRuaW5nX3BsYXRpbnVtX29uLXJvYWRfMDQuanBnJnc9NzAw"/></p>
<p>福特 F-150 Lightning。图片来源：福特汽车公司。</p>
<p>福特的一位发言人在接受《汽车新闻》采访时表示：“Novelis 是福特的几家铝供应商之一。自从近三周前发生火灾以来，福特一直与 Novelis 紧密合作，并且有一个完整的团队致力于解决这一情况，探索所有可能的替代方案，以尽量减少潜在的干扰。”</p>
<h2>接下来怎么办？</h2>
<p>这不仅增加了福特目前面临的问题清单，还继续了一系列供应链中断。这些问题包括微芯片短缺、钢铁和铝价上涨、快速变化的贸易和关税环境，以及自 2023 年工会罢工和 COVID-19 疫情初期以来遭受重创的供应商基础。</p>
<p>火灾和供应商中断将加剧第四季度即将到来的电动车放缓，并显著影响收益。虽然这并不仅限于福特，也会影响 <strong>斯特兰蒂斯</strong> 和 <strong>丰田汽车</strong>，但根据 Evercore 的分析师，蓝色椭圆形标志的公司预计将遭受最大的影响。</p>
<p>时机也有些不幸，因为福特刚刚在第三季度在美国市场上发布了 8.5% 的轻型汽车销量增长。这包括在此期间电动车销量大幅增长 30%，达到 30,612 辆，足以为这家汽车制造商创造第三季度的销量记录。</p>
<p>在联邦电动车税收抵免在 9 月份结束后，势头本就预计会急剧减缓，这导致第四季度电动车需求可能会出现明显的低迷。但现在由于 F-150 Lightning 的销售受到干扰，第四季度对公司的电动车势头可能会更加糟糕。</p>
<p>福特现在真是难以喘息。长期投资者明智的做法是更多关注汽车制造商可以具体控制的方面，例如提高质量和降低与过度召回相关的保修成本。</p>

福特汽车

<p>福特汽车公司在 2025 年面临重大挑战，包括关税影响、失去电动车的联邦税收抵免以及创纪录的汽车召回。最近在纽约的一家铝厂发生火灾，预计将使福特损失 10 亿美元的息税前利润，并扰乱其 F-150 卡车和 F-150 Lightning 电动皮卡的生产。此事件加剧了持续的供应链问题，包括微芯片短缺和材料成本上升，可能导致第四季度电动车销售和收益放缓</p>

<p><strong>Ford Motor Company</strong>(F 1.23%) has faced its fair share of issues in 2025. Not only is it currently navigating its way around a whipsaw of tariff impacts and removal of the $7,500 federal tax credit for electric vehicle (EV) purchases, but the Detroit icon is also currently setting a full-year record for vehicle recalls.</p>
<div class="lb-trans"><p><strong>福特汽车公司</strong>(F 1.23%) 在 2025 年面临了不少问题。它不仅正在应对关税影响的剧烈波动和取消 7500 美元电动车（EV）购车联邦税收抵免的挑战，而且这家底特律的标志性企业还正在创下全年汽车召回的记录。</p>
</div><p>Now, even as the automaker is busy sorting issues that are under its control, a new issue has popped up -- and it could cost the automaker a cool $1 billion in EBIT (earnings before interest and taxes).</p>
<div class="lb-trans"><p>现在，即使这家汽车制造商忙于解决其可控的问题，一个新的问题出现了——这可能会让汽车制造商损失高达 10 亿美元的息税前利润（EBIT）。</p>
</div><h2>What's going on?</h2>
<div class="lb-trans"><h2>发生了什么？</h2>
</div><p>Surprise, Ford investors! If you woke up at any point this week hoping for better headlines, you're unfortunately out of luck -- and the financial impact is about to be very serious. A fire at a New York aluminum plant is expected to limit production of Ford's highly profitable F-150 full-size truck for months, according to analysts at <strong>Evercore</strong> ISI.</p>
<div class="lb-trans"><p>惊喜，福特投资者！如果你在本周的任何时候希望看到更好的新闻，遗憾的是你失望了——而且财务影响将非常严重。根据 <strong>Evercore</strong> ISI 的分析师，纽约一家铝厂的火灾预计将限制福特高利润的 F-150 全尺寸卡车的生产数月。</p>
</div><p>Ford is also hitting the pause button on production of its F-150 Lightning electric pickup in Dearborn, Michigan, because of the same aluminum-plant fire. It's an unfortunate development after a third quarter in which the F-150 Lightning delivered a sales gain of nearly 40% and was America's best-selling electric pickup.</p>
<div class="lb-trans"><p>由于同样的铝厂火灾，福特还暂停了在密歇根州迪尔伯恩生产 F-150 Lightning 电动皮卡。这是一个不幸的发展，因为在第三季度，F-150 Lightning 的销量增长了近 40%，成为美国最畅销的电动皮卡。</p>
</div><p>A memo shared with workers at the plant, which was viewed and reported on by <strong>Reuters</strong>, noted that the Rouge Electric Vehicle Center will be off as soon as next week. The unfortunate event began with a Sept. 16 fire at the Novelis plant in Oswego, New York, and will affect the supply of aluminum for Ford's best-selling F-150 trucks through the remainder of 2025.</p>
<div class="lb-trans"><p>一份与工人共享的备忘录被 <strong>路透社</strong> 查看并报道，指出 Rouge 电动车中心将从下周开始停工。这一不幸事件始于 9 月 16 日在纽约奥斯威戈的 Novelis 工厂发生的火灾，并将影响福特最畅销的 F-150 卡车在 2025 年剩余时间的铝供应。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mzc0MzMvZi0xNTBfbGlnaHRuaW5nX3BsYXRpbnVtX29uLXJvYWRfMDQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F837433%2Ff-150_lightning_platinum_on-road_04.jpg&amp;op=resize&amp;w=700"/></p>
<p>Ford F-150 Lightning. Image source: Ford Motor Company.</p>
<div class="lb-trans"><p>福特 F-150 Lightning。图片来源：福特汽车公司。</p>
</div><p>&#34;Novelis is one of several aluminum suppliers to Ford. Since the fire nearly three weeks ago, Ford has been working closely with Novelis, and a full team is dedicated to addressing the situation and exploring all possible alternatives to minimize any potential disruptions,&#34; a spokesperson for Ford said in a statement, according to <em>Automotive News</em>.</p>
<div class="lb-trans"><p>福特的一位发言人在接受《汽车新闻》采访时表示：“Novelis 是福特的几家铝供应商之一。自从近三周前发生火灾以来，福特一直与 Novelis 紧密合作，并且有一个完整的团队致力于解决这一情况，探索所有可能的替代方案，以尽量减少潜在的干扰。”</p>
</div><h2>Now what?</h2>
<div class="lb-trans"><h2>接下来怎么办？</h2>
</div><p>This not only adds to the list of issues Ford is currently facing, but also continues a series of supply chain disruptions. They have included microchip shortages, elevated steel and aluminum prices, a rapidly evolving trade and tariff environment, and a battered supplier base that has been dealing with hit after hit dating back to the 2023 union strike and the first years of the COVID-19 pandemic.</p>
<div class="lb-trans"><p>这不仅增加了福特目前面临的问题清单，还继续了一系列供应链中断。这些问题包括微芯片短缺、钢铁和铝价上涨、快速变化的贸易和关税环境，以及自 2023 年工会罢工和 COVID-19 疫情初期以来遭受重创的供应商基础。</p>
</div><p>The fire and supplier disruption will add to the coming EV slowdown during the fourth quarter, and ding earnings to a notable degree. While this isn't limited to Ford and will impact <strong>Stellantis</strong> and <strong>Toyota Motor</strong> as well, the folks at the Blue Oval are expected to see the largest fallout, according to analysts at Evercore.</p>
<div class="lb-trans"><p>火灾和供应商中断将加剧第四季度即将到来的电动车放缓，并显著影响收益。虽然这并不仅限于福特，也会影响 <strong>斯特兰蒂斯</strong> 和 <strong>丰田汽车</strong>，但根据 Evercore 的分析师，蓝色椭圆形标志的公司预计将遭受最大的影响。</p>
</div><p>The timing is also a bit unfortunate, as Ford just posted a solid 8.5% light-vehicle sales gain in the U.S. market during the third quarter. That included a substantial 30% gain in EV sales during the period, up to 30,612 vehicles, enough to mark a third-quarter record for the automaker.</p>
<div class="lb-trans"><p>时机也有些不幸，因为福特刚刚在第三季度在美国市场上发布了 8.5% 的轻型汽车销量增长。这包括在此期间电动车销量大幅增长 30%，达到 30,612 辆，足以为这家汽车制造商创造第三季度的销量记录。</p>
</div><p>Momentum was already expected to come to a screeching halt when the evaporating federal EV tax credit ended with the month of September, leading to a very likely lull in fourth-quarter demand for EVs. But now with a disruption to F-150 Lightning sales, the fourth quarter will likely be even worse for the company's EV momentum.</p>
<div class="lb-trans"><p>在联邦电动车税收抵免在 9 月份结束后，势头本就预计会急剧减缓，这导致第四季度电动车需求可能会出现明显的低迷。但现在由于 F-150 Lightning 的销售受到干扰，第四季度对公司的电动车势头可能会更加糟糕。</p>
</div><p>Ford can't catch a break right now. Long-term investors would be wise to focus more on what the automaker can specifically control, such as improving quality and lowering warranty costs associated with excessive recalls.</p>
<div class="lb-trans"><p>福特现在真是难以喘息。长期投资者明智的做法是更多关注汽车制造商可以具体控制的方面，例如提高质量和降低与过度召回相关的保修成本。</p>
</div>

Ford Just Can't Catch a Break Right Now

- 福特汽车公司在 2025 年面临多重挑战，包括关税影响和电动车税收抵免取消。  
- 纽约铝厂火灾预计将影响福特 F-150 皮卡的生产，损失可能达 10 亿美元。  
- 此事件加剧了福特的供应链问题，可能导致电动车销售在第四季度进一步下滑。  

福特汽车目前似乎难以摆脱困境