The daily business briefing: September 20, 2022

Ford warns supply chain costs are jumping an extra $1 billion this quarter, "Grand Theft Auto" maker confirms a major leak, and more

Grand Theft Auto VI
(Image credit: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)

1. Ford warns 3rd-quarter supply-chain costs up an extra $1 billion

Ford Motor shares fell more than 4 percent in after-hours trading after the automaker said Monday that supply-chain costs would jump $1 billion higher than previously expected in the third quarter due to inflation and shortages of some parts. Ford and other car manufacturers have struggled to produce enough vehicles for nearly two years due to a shortage of computer chips, and Ford's warning suggests supply-chain issues will remain a problem into next year. Ford said it expects to have up to 45,000 vehicles it won't be able to ship at the end of the quarter because of missing components. That's more than expected, but down from the 53,000 vehicles that weren't completed in July.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us