Ford keeps having to repair customers' new cars and trucks. Its profit is plunging and its stock tumbled

Shares of a major automaker plunged over 11% in after-hours trading following disappointing earnings results. The company attributed the weak performance to increased expenses for repairing customers’ vehicles. While the company didn’t disclose the exact amount set aside for warranty expenses, it noted that most of the $1.2 billion decrease in operating income was due to this increased cost. Despite the challenges, the company remains committed to improving product quality and reducing costs. Adjusted net income fell by $1 billion to $1.9 billion, significantly below analysts’ expectations. Operating profit in the company’s gasoline-powered vehicle segment saw a nearly 50% decline, impacting overall performance.