Ford Motor Co. has cut costs for materials and warranties and offset higher commodity costs with improved pricing and mix. S&P Global Ratings expects this to be sustainable and, alongside volume growth, will improve margins and stabilize free cash flow following operational and industry headwinds the past couple of years. We affirmed our ‘BBB-’ issuer credit rating on Ford and subsidiary Ford Motor Credit Co. LLC (FMCC) and the ‘A-3’ short-term rating on Ford. We revised the outlook on both entities to stable from negative. The stable outlook reflects our expectation that Ford’s structural cost reductions, declining losses in electric vehicles (EV), and strong profits from pickups and SUVs will offset inflationary pressures, tariffs, and supply chain volatility. We expect
