DETROIT — Ford Motor Co. expects an operating loss of more than $5 billion in the second quarter as the financial toll of the coronavirus crisis continues to worsen.
The automaker said Tuesday that it lost $632 million before interest and taxes in the first quarter, although it made $346 million before interest and taxes in North America. That came despite shuttering U.S. assembly plants for the final two weeks of the quarter.
CFO Tim Stone said if the coronavirus crisis had not occurred Ford was tracking to post $1.4 billion or more in adjusted earnings before interest and taxes.
Ford in the first quarter lost money in every region outside of North America, including a $241 million loss in China, which was the first region impacted by the virus.
Ford Credit made $30 million in the quarter, down $771 million from the same period a year ago.
Ford’s mobility unit lost $300 million in the quarter as the automaker announced it would postpone the launch of its autonomous vehicle…