<p><strong>福特汽車公司</strong>(F 1.23%) 在 2025 年面臨了不少問題。它不僅正在應對關税影響的劇烈波動和取消 7500 美元電動車（EV）購車聯邦税收抵免的挑戰，而且這家底特律的標誌性企業還正在創下全年汽車召回的記錄。</p>
<p>現在，即使這家汽車製造商忙於解決其可控的問題，一個新的問題出現了——這可能會讓汽車製造商損失高達 10 億美元的息税前利潤（EBIT）。</p>
<h2>發生了什麼？</h2>
<p>驚喜，福特投資者！如果你在本週的任何時候希望看到更好的新聞，遺憾的是你失望了——而且財務影響將非常嚴重。根據 <strong>Evercore</strong> ISI 的分析師，紐約一家鋁廠的火災預計將限制福特高利潤的 F-150 全尺寸卡車的生產數月。</p>
<p>由於同樣的鋁廠火災，福特還暫停了在密歇根州迪爾伯恩生產 F-150 Lightning 電動皮卡。這是一個不幸的發展，因為在第三季度，F-150 Lightning 的銷量增長了近 40%，成為美國最暢銷的電動皮卡。</p>
<p>一份與工人共享的備忘錄被 <strong>路透社</strong> 查看並報道，指出 Rouge 電動車中心將從下週開始停工。這一不幸事件始於 9 月 16 日在紐約奧斯威戈的 Novelis 工廠發生的火災，並將影響福特最暢銷的 F-150 卡車在 2025 年剩餘時間的鋁供應。</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。圖片來源：福特汽車公司。</p>
<p>福特的一位發言人在接受《汽車新聞》採訪時表示：“Novelis 是福特的幾家鋁供應商之一。自從近三週前發生火災以來，福特一直與 Novelis 緊密合作，並且有一個完整的團隊致力於解決這一情況，探索所有可能的替代方案，以儘量減少潛在的干擾。”</p>
<h2>接下來怎麼辦？</h2>
<p>這不僅增加了福特目前面臨的問題清單，還繼續了一系列供應鏈中斷。這些問題包括微芯片短缺、鋼鐵和鋁價上漲、快速變化的貿易和關税環境，以及自 2023 年工會罷工和 COVID-19 疫情初期以來遭受重創的供應商基礎。</p>
<p>火災和供應商中斷將加劇第四季度即將到來的電動車放緩，並顯著影響收益。雖然這並不僅限於福特，也會影響 <strong>斯特蘭蒂斯</strong> 和 <strong>豐田汽車</strong>，但根據 Evercore 的分析師，藍色橢圓形標誌的公司預計將遭受最大的影響。</p>
<p>時機也有些不幸，因為福特剛剛在第三季度在美國市場上發佈了 8.5% 的輕型汽車銷量增長。這包括在此期間電動車銷量大幅增長 30%，達到 30,612 輛，足以為這家汽車製造商創造第三季度的銷量記錄。</p>
<p>在聯邦電動車税收抵免在 9 月份結束後，勢頭本就預計會急劇減緩，這導致第四季度電動車需求可能會出現明顯的低迷。但現在由於 F-150 Lightning 的銷售受到干擾，第四季度對公司的電動車勢頭可能會更加糟糕。</p>
<p>福特現在真是難以喘息。長期投資者明智的做法是更多關注汽車製造商可以具體控制的方面，例如提高質量和降低與過度召回相關的保修成本。</p>

福特汽車

<p>福特汽車公司在 2025 年面臨重大挑戰，包括關税影響、失去電動車的聯邦税收抵免以及創紀錄的汽車召回。最近在紐約的一家鋁廠發生火災，預計將使福特損失 10 億美元的息税前利潤，並擾亂其 F-150 卡車和 F-150 Lightning 電動皮卡的生產。此事件加劇了持續的供應鏈問題，包括微芯片短缺和材料成本上升，可能導致第四季度電動車銷售和收益放緩</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>福特汽車公司</strong>(F 1.23%) 在 2025 年面臨了不少問題。它不僅正在應對關税影響的劇烈波動和取消 7500 美元電動車（EV）購車聯邦税收抵免的挑戰，而且這家底特律的標誌性企業還正在創下全年汽車召回的記錄。</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>現在，即使這家汽車製造商忙於解決其可控的問題，一個新的問題出現了——這可能會讓汽車製造商損失高達 10 億美元的息税前利潤（EBIT）。</p>
</div><h2>What's going on?</h2>
<div class="lb-trans"><h2>發生了什麼？</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>驚喜，福特投資者！如果你在本週的任何時候希望看到更好的新聞，遺憾的是你失望了——而且財務影響將非常嚴重。根據 <strong>Evercore</strong> ISI 的分析師，紐約一家鋁廠的火災預計將限制福特高利潤的 F-150 全尺寸卡車的生產數月。</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>由於同樣的鋁廠火災，福特還暫停了在密歇根州迪爾伯恩生產 F-150 Lightning 電動皮卡。這是一個不幸的發展，因為在第三季度，F-150 Lightning 的銷量增長了近 40%，成為美國最暢銷的電動皮卡。</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>一份與工人共享的備忘錄被 <strong>路透社</strong> 查看並報道，指出 Rouge 電動車中心將從下週開始停工。這一不幸事件始於 9 月 16 日在紐約奧斯威戈的 Novelis 工廠發生的火災，並將影響福特最暢銷的 F-150 卡車在 2025 年剩餘時間的鋁供應。</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。圖片來源：福特汽車公司。</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>福特的一位發言人在接受《汽車新聞》採訪時表示：“Novelis 是福特的幾家鋁供應商之一。自從近三週前發生火災以來，福特一直與 Novelis 緊密合作，並且有一個完整的團隊致力於解決這一情況，探索所有可能的替代方案，以儘量減少潛在的干擾。”</p>
</div><h2>Now what?</h2>
<div class="lb-trans"><h2>接下來怎麼辦？</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>這不僅增加了福特目前面臨的問題清單，還繼續了一系列供應鏈中斷。這些問題包括微芯片短缺、鋼鐵和鋁價上漲、快速變化的貿易和關税環境，以及自 2023 年工會罷工和 COVID-19 疫情初期以來遭受重創的供應商基礎。</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>火災和供應商中斷將加劇第四季度即將到來的電動車放緩，並顯著影響收益。雖然這並不僅限於福特，也會影響 <strong>斯特蘭蒂斯</strong> 和 <strong>豐田汽車</strong>，但根據 Evercore 的分析師，藍色橢圓形標誌的公司預計將遭受最大的影響。</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>時機也有些不幸，因為福特剛剛在第三季度在美國市場上發佈了 8.5% 的輕型汽車銷量增長。這包括在此期間電動車銷量大幅增長 30%，達到 30,612 輛，足以為這家汽車製造商創造第三季度的銷量記錄。</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>在聯邦電動車税收抵免在 9 月份結束後，勢頭本就預計會急劇減緩，這導致第四季度電動車需求可能會出現明顯的低迷。但現在由於 F-150 Lightning 的銷售受到干擾，第四季度對公司的電動車勢頭可能會更加糟糕。</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>福特現在真是難以喘息。長期投資者明智的做法是更多關注汽車製造商可以具體控制的方面，例如提高質量和降低與過度召回相關的保修成本。</p>
</div>

Ford Just Can't Catch a Break Right Now

- 福特汽車公司在 2025 年面臨多重挑戰，包括關税影響和電動車税收抵免取消。  
- 紐約鋁廠火災預計將影響福特 F-150 皮卡的生產，損失可能達 10 億美元。  
- 此事件加劇了福特的供應鏈問題，可能導致電動車銷售在第四季度進一步下滑。  

福特汽車目前似乎難以擺脱困境