Ford sees $3 billion pretax loss in its EV business this year

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Ford Motor Co expects its electric vehicle business unit to lose $3 billion this year, but remains on track to achieve a pretax margin of 8% by late 2026, the company said.

Workers plug in an electric Ford Mustang Mach-e electric vehicle during a press event at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photoexpects its electric vehicle business unit to lose $3 billion this year, but remains on track to achieve a pretax margin of 8% by late 2026, the company said.

Starting with first-quarter results, which will be announced on May 2, Ford will begin reporting by business unit for Model e , Blue and Pro . Chief Financial Officer John Lawler said Ford no longer will break out financial results by region, only by business unit, because “that’s how we’re running the company now.”

 

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Biden’s fault

Apparently it’s for a good leftist cause, even if they go belly up.

Good thing we're spending so much federal cash on charging stations. Next: Ford Bailout. It's like buying a herd of cattle when the only place you can keep them is in your apartment.

Don't worry, Biden will bail you out Ford.

'What a loss!' Ford is developing a product line in the span of a few years that incumbents (read: Tesla, PRC) have been developing for a decade. They are playing catch up, and if anything, dumping money into the project is a *good* sign.

Almost like most people don't want expensive EV's...

EV is a waste of time. Need to pivot to hydrogen ICE

Wokeness drove the development of EVs

Translate: We will now charge more for the gas cars people want, to take up the loss.

Time to fire the CEO !

It’s ugly and they claim it’s a mustang. That’s not a mustang

It's to be expected at first. Supply chain issues are still happening. One of the worst is the dealership issues.

$95k Canadian for a deluxe model. No wonder they lost $. 🚙

It's efficiency+vertical integration Ford lacks. $F will fail.

Maybe investing in hybrids instead of full on EVs would've been a better idea...

Retooling costs.

Why would you buy an EV when you know prices will come down, and the technology will improve

That is nothing like a Mustang. Ford f*cked up.

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