Ford posts a $1.3 billion second-quarter net loss on charges tied to scrapped electric vehicle programs but raises its full-year guidance. The earthquake damage in Japan keeps growing for automakers. Plus, Frank Peña, who spent 30 years running stores for others before closing on three New Mexico dealerships of his own, talks about the road to ownership.

July 29, 2026 | Ford posts $1.3B Q2 loss; Frank Peña on buying his first dealerships

Automotive News Daily Drive

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Welcome to Daily Drive for Wednesday, July 29, 2026. I'm Kellen Walker in Las Vegas. Today on the show, the earthquake damage in Japan is getting worse for automakers. BMW is preparing to cut thousands of jobs and it's blaming China. And Ford posts a big quarterly loss but strip out the charges and the picture looks very different.

Plus, a first-time dealer who just closed on three New Mexico stores talks about what it actually takes to get the deal done. We got to get comfortable with being a little bit uncomfortable. I've been comfortable for many years. Now I want to take this to the next level. Let's run through all the news you need to know to keep up in the auto industry. Toyota, Nissan and Honda are feeling the effects of that major earthquake in Japan.

Toyota has extended its Lexus production shutdown through July 31, affecting up to 5,200 vehicles, including the RX and NX crossovers. Nissan has now suspended operations at two Kyushu plants, citing interrupted parts supply. Honda halted a motorcycle plant in the region as well. Supplier disruptions may outlast the factory shutdowns, with the full supply chain impact still unclear.

BMW is launching a voluntary severance program that could eliminate around 8,000 jobs globally. Most cuts will come from German operations in R&D, planning and corporate functions. The program runs from October through 2027. BMW expects it to boost profitability by 2028.

July 29, 2026 | Ford posts $1.3B Q2 loss; Frank Peña on buying his first dealerships

Read the full transcript

The candid version is on a podcast,
not the earnings call.

July 29, 2026 | Ford posts $1.3B Q2 loss; Frank Peña on buying his first dealerships

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.