04-25-2024, 9:18pm
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10cm member Barn Stall Owner #90125 NCM Supporter '19,'20
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But they made it up in volume: Ford loses $ 132,000 on every EV in 1st qtr of 2024
https://justthenews.com/politics-pol...t-quarter-2024
Quote:
Ford lost $132,000 on each electric vehicle it sold in the first quarter 2024
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.
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.
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