It wasn't so much a Ford shortfall as a big upside surprise by General Motors (GM) - Get Report . GM set the bar very high for Ford after it reported such good results last week, said Cramer, co-manager of the Action Alerts PLUS portfolio, on CNBC's "Stop Trading" segment.
He noted that with GM earnings so good and terrific sales of Ford's F-150 pickup truck, everyone figured that Ford would crush estimates.
Instead, Ford reported weakness in Asia and Latin America, coupled with a higher-than-expected tax rate, he explained.
But if you are an investor ready to sell, sell, sell right right now you'll regret it, Cramer said, especially if China begins to improve. Instead, he advised listening to the Ford conference call before jumping to conclusions.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.