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Shares of Ford fell 8 percent Thursday as the automaker posted second-quarter earnings that missed Wall Street estimates, and outlined "challenges" to achieving 2016 guidance.
Ford's stock traded near $12.50, headed for its worst day since January 2011. Ford has already more than doubled its 30-day average volume of 34 million shares, trading over 77.6 million shares traded by Thursday afternoon.
The car company reported an adjusted profit of 52 cents per share for the second quarter, 8 cents below 60 cent estimates from analysts polled by Thomson Reuters.
The Dearborn, Michigan-based company's net income fell roughly 9 percent to $2 billion, Ford said, hit by sales in China. Revenue rose to $39.5 billion from $37.3 a year ago.
"Ford committed to full year guidance of company pretax profit and operating margin equal to or better than last year; however, company now sees risks challenging achieving guidance," the company said in its earnings statement.
The automaker outlined risks in the second half of 2016, including a decline in industry sales volume for the U.S., China, and Europe due to financial crisis, recession, and geopolitical events such as the Brexit. Ford also said increased volatility in fuel prices, and fluctuation in currency could affect results going forward.
Results in China were hit by higher costs and a weaker yuan, the company said. Wholesales were lower on the back of an eight-week shutdown of a Chongqing plant for upgrades.
The second-quarter last year was helped by the launch of the F-150. F-series sales helped U.S. market share rise to 15.3 percent, up three-tenths of a point from last year, the company said.
Shares are down more than 9 percent year to date, and 14 percent year over year.