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Ford's stock took a big hit yesterday dropping over 12% after they said that "inflation-related costs" would be a billion dollars more than expected and deliveries were delayed due to parts shortages.


Sept 20 (Reuters) - Ford Motor Co's (F.N) stock tumbled over 12% on Tuesday in its deepest one-day decline in over a decade after the automaker said inflation-related costs would be $1 billion more than expected in the current quarter and that parts shortages had delayed deliveries.

The stock ended at $13.09, making its percentage decline for the session its largest since January 2011.

Ford's preliminary third-quarter results, released late on Monday, sent shares of rival General Motors Co (GM.N)down 5.6% as analysts said it might take more time for automakers to recover from chip shortages.
 
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