Ford Motor on Thursday said the U.S. auto workers' strike has led to a $1.7 billion hit to its profit and lost production of thousands of vehicles, as it cut its full-year earnings forecast to account for the recently struck labor deal.

Ford Motor Co. says a six-week strike by the United Auto Workers union cut sales by about 100,000 vehicles and cost the company $1.7 billion in lost profits this year

Ford Motor on Thursday pegged the cost of a new labor deal at $8.8 billion and joined rival General Motors in cutting its full-year profit forecast due to lost production from a lengthy strike at its U.

The deal with the United Auto Workers (UAW) union, reached after weeks of tense negotiations, will add about $900 in labor costs per vehicle by 2028. Ford said it would work to offset that by cutting costs elsewhere.

F ord Motor has provided a new annual earnings forecast after previously withdrawing guidance due to the United Auto Workers strike, which the auto giant said resulted in $1.7 billion in lost profits.

Ford is estimating that the company lost $1.7 billion in profits this year due to the six-week long strike by United Auto Workers (UAW). Ford Chief Financial Officer John Lawler said in a company press release that there were $1.