Auto giants Ford Motor and General Motors gear up for crisis – GoGetNews News

The two largest American automakers Ford Motor and General Motors are preparing for the economic crisis amid the ongoing trade war between the US and China. It is reported by Reuters.

According to the publication, company representatives fear a global recession.

Mutual duties between the United States and China increased the price of raw materials for the global auto industry, at the same time, significantly reducing the demand for auto products.

According to Ford North American CFO Matt Fields, Ford Motor has a $ 20 billion cash buffer in the event of a possible economic downturn.

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The head of the General Motors finance department, Divia Suryadevara, said the company had $ 18 billion in stock with the potential to pay dividends in two years.

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