Ford’s darkest day in 5 years

Ford Motor Co. (NYSE: F) Thursday put the brakes on internal estimates of vehicle sales, noting decreased customer demand and a $60 million loss associated with Brexit.

Ford’s stock dropped 8 percent the same day – the largest loss the stock has experienced since January 2011.

Last year, Ford auto sales hit record highs, but CEO Mark Fields said the company was lowering estimates for 2016 and expects a similar decline in 2017.

Ford Credit profits also dropped 21 percent in the second quarter due to rising loan defaults and delinquencies and falling resale values at auction, according to CNNMoney.

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