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Ford lost $132,000 on each electric vehicle it sold in the first quarter 2024
Just the News ^ | 4/25/24 | Kevin Killough

Posted on 04/26/2024 4:06:03 AM PDT by CFW

Ford announced Wednesday losses of $1.32 billion on its Ford Model-e sector, which represents the company’s electric vehicle business. With 10,000 units sold, the company lost $132,000 on each EV it sold.

In the fourth quarter of 2023, the company sold 34,000 units in its Model-e business, which produced $1.57 billion in losses, or roughly $46,176 on each EV sold.

“The company expects EV costs to improve going forward, but be offset by top-line pressure,” the company said in a press release.

The company’s other sectors, which includes its Ford Pro fleet business and Ford Blue gas-powered and hybrid vehicle business, made up for the losses on its EV lines. Hybrid vehicles combine aspects of EVs and gas-powered engines. The company posted a net income of $1.3 billion in the first quarter, with revenues of $42.8 billion.

(Excerpt) Read more at justthenews.com ...


TOPICS: Business/Economy; Culture/Society; Government; Politics/Elections
KEYWORDS: autoindustry; economy; ev; evs; ford
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To: CFW

Reality is a harsh teacher.


21 posted on 04/26/2024 5:23:24 AM PDT by TheDon (Resist the usurpers! Remember the J6 political prisoners!)
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To: newnhdad
A Ford is a Ford.

Slightly off topic....

We have a black friend who owned a bar that we loved. He told us he bought a new car.

On the way in, I saw a new Ford parked by the door, so I asked, “did you buy a Ford.”

He said...”He^# no! The last time I saw a black man in a Ford, he was sitting in the back seat with hand cuffs on!”

22 posted on 04/26/2024 5:41:20 AM PDT by SMARTY ("A lie which is half a truth is ever the blackest of lies." Tennyson)
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To: CFW

Our local Ford dealer has EVs all over the lot, unsold.

So they didn’t lose any money on them!.................


23 posted on 04/26/2024 5:47:45 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Gay State Conservative
Why would I *possibly* want a car that needs to be "refilled" every 225 miles,there are only a few hundred places in the country where it can be done,and those refills take anywhere from 1 hour to 12 hours?

FWIW, our EV recharges in 10-15 minutes at the fast DC chargers. Including all the chargers we used in the trip we took from Alabama to Maine last year. Though I wouldn’t get an EV for long trips if those trips up north were made in the winter. Nor would I get one for trips if your wife doesn’t want to stop every 200 miles like mine and walk around for 10-15 minutes. LOL

Where an EV has value for convenience is if you drive a lot of local miles and can charge at home. Last year we drove our EV 16K miles that were charged at home. Zero wait time for that. Unlike our gas pickup, which requires 5-10 minutes of my time to fill up, even if we use it for just local driving. And if I go on a long trip without my wife (something that hasn’t happened since we got the EV, but I’m sure that day is coming), I’ll take our gas pickup so I can go 400 or so miles between restroom/gas breaks. Likewise the gas pickup is good for when we decide to take a trip through parts of the country that don’t have fast chargers.

24 posted on 04/26/2024 5:55:41 AM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: CFW

Virtue Grandstanding can be expensive. Think of the losses the Starbuck moms took, warms your heart.


25 posted on 04/26/2024 6:03:35 AM PDT by bray (Science says a human life begins at conception.)
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To: bray

There is way more to it than virtue grandstanding.

Ford and GM made EV’s to sell for a profit not realizing they did not know what they were doing. They could not grasp the concept that they didn’t know how and could not actually manufacture an electric vehicle.

Their engineers produced electrified vehicles rather than from scratch electric vehicles. GM and Ford simply lacked the engineers capable of doing the required job


26 posted on 04/26/2024 6:09:23 AM PDT by bert ( (KE. NP. +12) Hamascide is required in totality)
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To: CFW
I demand more Pride Ford Raptors be made..


27 posted on 04/26/2024 6:25:51 AM PDT by moovova ("The NEXT ELECTION is the most important election of our lifetimes!“ LOL...)
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To: CFW

Farley has to be the dumbest CEO in the country. He’ll, I can lose less money than that.


28 posted on 04/26/2024 6:55:05 AM PDT by ImJustAnotherOkie
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To: CFW

I think Ford still did better than Lucid and Rivian. :)


29 posted on 04/26/2024 7:06:07 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: ComputerGuy
Who at Ford made the decision to build all those trucks in the first place? Hang them.

That is a good question. Who influenced the CEO to decide to build EV trucks? Was it solely Farley's decision or did the board pressure him? What data did they use to conclude EVs were the wave of the future? Were positive answers to misleading polling questions involved with the decision, etc?

The same questions apply to GM.

30 posted on 04/26/2024 7:12:11 AM PDT by EVO X ( )
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To: Gay State Conservative

I had a new company Ford Escape hybrid that couldn’t hold a charge, even the dealership could not figure out what was wrong and had to send it out someplace special. My company finally got rid of that vehicle and I was reassinged an awesome gas power 4x4 Ranger.


31 posted on 04/26/2024 7:37:40 AM PDT by Striperman (Striperman)
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To: Mr. Jeeves

There’s a nice...I’d call it upscale...mall near me that I visit regularly because it’s a great place to walk. It has a Lucid “dealership” and one of their cars on display in the mall’s main gathering area. I never see anyone anywhere near it. I guess it could be that they start at something like $95,000.


32 posted on 04/26/2024 7:47:18 AM PDT by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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To: CFW

oh noes my 5 shares of f


33 posted on 04/26/2024 8:23:34 AM PDT by VAFreedom (Wuhan Pneumonia-Made by CCP, Copyright Xi Jingping)
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To: MayflowerMadam

GOOD FOR HIM.


34 posted on 04/26/2024 8:24:55 AM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: Red Badger

DEALERS DO NOT PAY FORD UNTIL VEHICLE IS SOLD.


35 posted on 04/26/2024 8:27:14 AM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: ridesthemiles

That’s why they didn’t lose any money!.................😁


36 posted on 04/26/2024 8:28:06 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Tell It Right

If you drive through older cities in the Northeast you will find that most residents park their cars on the street.

Obviously they will never have “home charging”.


37 posted on 04/26/2024 8:30:54 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: cgbg
Agreed. And I don't know about local driving in cold winters in an EV. One reason I got an EV as our main car is because the miles per kWh is cheaper than miles per gallon. But part of that math is based on EV's working way more efficiently in warm Alabama than in the cold northeast.

It may be that my 16K miles of home charged miles in an EV wouldn't have saved as much in cost per mile (vs a gas car) if I lived up north. Even if the range safely got me where I was going for the day's driving, driving in the cold requires more charging at home than driving in warm weather and may be the difference that makes an EV not worth it unless you drive maybe 20K miles per year.

38 posted on 04/26/2024 8:35:07 AM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: MayflowerMadam

It has nothing to do with refusing to sell EV’s. I’ve managed new car stores since 1990.

“Just over half of Ford’s nearly 3,000 dealerships in the US have opted out of the investments necessary to sell electric vehicles like the F-150 Lightning and Mustang Mach-e, Ford says”.


39 posted on 04/26/2024 9:09:14 AM PDT by allwrong57
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To: allwrong57

I didn’t say “sell”; they wouldn’t “service”.


40 posted on 04/26/2024 9:28:33 AM PDT by MayflowerMadam (Navarro didn't kill himself.)
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