“The pressure of commodities, the premium load we see, I mean it’s really true … The good thing is that our pricing has offset all that. I think we’re earning less as a company, so we have more cost to do this year, next year “The next two years,” Farley said in an interview with Mad Money. Some of the commodities in which Ford has seen higher costs include steel, aluminum, nickel, cobalt and lithium, according to Farley. “We had some very bad commodities that kept our most profitable units and we believe it is an area in which we are on the rise in the second quarter, the second half,” he added. Farley’s comments come as Wall Street fears higher costs and supply chain cricket will hurt General Motors and Ford profits this year. The CEO also said that the company plans to take further pricing measures, especially in its electric vehicles. Farley told CNBC on Tuesday that he believes the company will be able to produce 150,000 F-150 Lightning EVs in the next year or so, even in the face of supply chain woes. Ford showed better-than-expected revenue and earnings in the first quarter of Wednesday. Shares of Ford rose about 1% after hours. Revelation: Cramer’s Charitable Trust owns shares in Ford. Join the CNBC Investing Club now to follow every Jim Cramer move in the market. Denial of responsibility Questions about Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer’s world? Hit him! Crazy Money Twitter – Jim Cramer Twitter – Facebook – Instagram Questions, comments, suggestions for the “Mad Money” website? [email protected]bc.com
