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Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
CNBC ^ | July 18, 2024 | By Michael Wayland

Posted on 07/18/2024 8:52:44 AM PDT by Oldeconomybuyer

Ford Motor will expand production of its large Super Duty trucks to a Canadian plant that was previously set to be converted into an all-electric vehicle hub.

The new plans include investing about $3 billion to expand Super Duty production, including $2.3 billion at Ford’s Oakville Assembly Complex in Ontario, Canada, Ford said Thursday.

Ford said the Canadian plant, which is expected to come online in 2026, will add annual capacity of roughly 100,000 units of the highly profitable pickups.

The announcement comes weeks after Farley said full electrification of “big, huge, enormous” vehicles such as Ford’s Super Duty trucks was “never going to make money.”

While Ford’s EV unit loses billions of dollars, its Ford Pro commercial business including its Super Duty trucks earned $7.2 billion before interest and taxes in 2023.

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


TOPICS: Business/Economy; Canada; News/Current Events; Politics/Elections
KEYWORDS: automotive; electric; ford
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1 posted on 07/18/2024 8:52:44 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

Boy, did we ever mess up! Back to making gas trucks...


2 posted on 07/18/2024 8:55:14 AM PDT by 17th Miss Regt ( )
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To: Oldeconomybuyer
full electrification of “big, huge, enormous” vehicles such as Ford’s Super Duty trucks was “never going to make money.”

Duh!!!!

3 posted on 07/18/2024 8:57:05 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Oldeconomybuyer

Smartest move I have heard by Ford or GM or Dodge in awhile.
They make a lot of money on these big trucks. Plus people want to buy them. I think most people that do are trading in one that is only a few years old.

Also, Super Duty F250’s are typically a work truck. Meaning it is being depreciated as an asset. This is the type of vehicle you need if you are plowing snow or pulling a heavy trailer.


4 posted on 07/18/2024 8:58:25 AM PDT by woodbutcher1963
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To: Oldeconomybuyer
Cleaning up and re-tooling after Bidens bribery. Politics and engineering don't mix.

Anybody want to buy a real nice dock for their cottage on a lake? Freight from the Red Sea however.

5 posted on 07/18/2024 8:59:27 AM PDT by blackdog ((Z28.310) Be careful what you say. Your refrigerator may be listening & reporting you.)
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To: Oldeconomybuyer

The other people that are buying these type of trucks are Baby Boomers that are pulling a fifth wheel camper trailer. Which makes a lot more sense(IMHO) than buying a big RV(and pulling a car/Jeep).


6 posted on 07/18/2024 9:01:34 AM PDT by woodbutcher1963
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To: Oldeconomybuyer

Any money left over to pursue the much needed DEI department.


7 posted on 07/18/2024 9:13:03 AM PDT by rktman (Destroy America from within? Check! WTH? Enlisted USN 1967 to end up with this💩? 🚫💉! 🇮🇱👍!)
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To: Oldeconomybuyer
I'm holding out for a Pride EV Ford Raptor...


8 posted on 07/18/2024 9:23:38 AM PDT by moovova ("The NEXT ELECTION is the most important election of our lifetimes!“ LOL...)
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To: Oldeconomybuyer

Hooray. Down with the woke EVs.


9 posted on 07/18/2024 9:30:11 AM PDT by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls.)
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To: moovova

Didnt realize they have Ranger Raptors...


10 posted on 07/18/2024 9:43:21 AM PDT by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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Unfortunate it takes several quarters of sales figures and overall cost analysis to confirm what any normal person functioning in the realm of the real world and common sense has been saying after 5 minutes of being told in the board room where Ford was going to go.


11 posted on 07/18/2024 9:44:30 AM PDT by USCG SimTech
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To: Secret Agent Man

There’s even a Bronco Raptor. Starts at $90k.


12 posted on 07/18/2024 9:48:33 AM PDT by moovova ("The NEXT ELECTION is the most important election of our lifetimes!“ LOL...)
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To: moovova

Yeah I’ve seen that one. A few times even off the lot, in the wild. :)


13 posted on 07/18/2024 9:50:45 AM PDT by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: Secret Agent Man

They just came out.


14 posted on 07/18/2024 10:02:27 AM PDT by miliantnutcase
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To: Oldeconomybuyer
“big, huge, enormous” vehicles such as Ford’s Super Duty trucks

I have a Super Duty F250. It's just a regular-size pickup. Yes, it's bigger than a Smart Car, but it's not really all that big.

15 posted on 07/18/2024 10:19:54 AM PDT by HartleyMBaldwin
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To: Oldeconomybuyer

If you really need a pickup truck then getting a 3/4 ton is usually a wiser choice than a 1/2 ton. Resale is much better in addition to the improved towing/hauling.


16 posted on 07/18/2024 10:29:42 AM PDT by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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To: Oldeconomybuyer

This is gonna go over GREAT with the union workers and Teamster drivers.

NOT.

Oh, wait ... their replacements, who will LOVE this, have already been sent here.


17 posted on 07/18/2024 10:31:03 AM PDT by Jane Long (The role of the GOP: to write sharply-worded letters as America becomes a communist hell-hole.)
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To: Oldeconomybuyer
Bring back the 4-door sedan like the Fusion or the MKZ.

-PJ

18 posted on 07/18/2024 10:31:17 AM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
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To: blackdog
Freight from the Red Sea however.

I'll offer a buck2.98 but that must include free shipping.

19 posted on 07/18/2024 10:50:23 AM PDT by BlackbirdSST (Trump or Bust! Long live the Republic.)
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To: Oldeconomybuyer

20 posted on 07/18/2024 10:55:44 AM PDT by Tommy Revolts (,,)
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