Ford

For Ford Motor Co., the coronavirus crisis has injected widespread uncertainty into a year when it hoped key product introductions would buoy its balance sheet.

Ford on March 18 was the first of the Detroit 3 to agree to close all of its U.S. factories. Most of its UAW work force has been laid off, although small teams of volunteers at some plants have gone from building Mustangs and Escapes to building ventilators and face masks to aid health care workers.

The highly anticipated reveals of the revived Bronco SUV, the new Bronco Sport crossover and the next-generation F-150 pickup have been postponed, and while engineers have gotten creative to continue some vehicle development from home, the on-time debut of some products could be in peril.

Last week, the company said plans to jointly develop an electric vehicle for the Lincoln brand with startup Rivian had been canceled.

In actions reminiscent of moves made ahead of the Great Recession, Ford suspended its dividend — something executives had vowed to avoid before the virus hit U.S. shores — and drew down $15 billion from two lines of credit to shore up its cash position.

Executive Chairman Bill Ford has deferred his full salary, and other top officials are foregoing half of their pay, until the automaker can pay back most of what it borrowed.

With Ford's salaried employees confined to their homes, CEO Jim Hackett has said if the crisis lingers, he'll have to take tougher actions, including potential unpaid furloughs.

After a disappointing financial performance in 2019, marked by the botched rollout of the redesigned Explorer, Ford lost $2 billion in the first quarter. CFO Tim Stone said the company expected an adjusted loss before interest and taxes of more than $5 billion in the second quarter.