Ford Motor earnings are slated to be reported on Thursday evening. Quarterly results might be the least important thing discussed on the company’s conference call, which comes after the auto maker reached a tentative deal with its striking union.
Ford’s full-year guidance for operating profit is $11 billion to $12 billion. Wall Street is modeling $11.2 billion. Ford reported a 2022 operating profit of $10.4 billion. GM planned to produce about 100,000 EVs in the second half of 2023 and 400,000, cumulatively, between 2022 and 2024. CFO Paul Jacobson said at GM’s earnings conference that GM was “moving to a more agile approach to continually evaluate EV demand and adjust production schedules to maximize profitability.” GM still wants to have the capacity to make one million EVs by the end of 2025.
GM’s U.S. BEV sales grew about 33% year-over-year but only accounted for about 3% of its sales. Ford’s U.S. BEV sales grew about 15% year over year in the third quarter, accounting for about 4% of its total sales volume.
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