Updates with analyst commentary

** Ford's F.N shares down 3.3% premarket to $8.40 after Bernstein downgrades to 'underperform' from 'market-perform'

** Brokerage chops PT from $9.40 to $7

** Given commencement of vehicle tariffs, and parts tariffs likely to follow in a month, Bernstein says "significant downside" not priced in yet on Ford's stock

** Shares expected to remain under pressure as tariffs intensify and consumer sentiment weakens, the analysts say

** Compared to General Motors GM.N, Ford faces lower headwinds, but starts from less favorable base in H1 2025, Bernstein says, leading to broadly flat EPS between Q2 2025 through Q1 2026

** In brokerage's "more lenient" scenario, Ford's high share of U.S. production helps avoid tariffs, but a stricter "U.S. content' interpretation would more than double its tariff impact, Bernstein says

** Automaker stocks saw increasing pressure last week after China announced retaliatory tariffs

** On Mon, an auto advisory firm in Detroit, Michigan forecasted U.S. and Canada auto sales could decline by nearly 2 mln vehicles this year if global trade war escalates

** GM shares down 1.7% before the bell at $41.77

** Through Tues close, F shares down ~11% YTD, while GM shares down 20%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))