10/29/2024
Ford Lost Another $1.2 Billion in 3Q On EVs
FoMoCo lost $58,391 for every EV it sold during the quarter.
The ugly EV news from Ford Motor Company just keeps coming.
This afternoon, the company reported that it lost $1.224 billion in its EV business during the third quarter. In early October, the company reported EV sales “were up 14.8 percent on best-ever sales of 20,962 vehicles.” Thus, simple division shows that the storied automaker lost $58,391 for each EV it sold during the quarter.
The company’s losses on its EV business, known as Model e, for the first nine months of 2024 total $3.7 billion. For reference, that $3.7 billion loss is equal to the gross profit (Ford calls it EBIT, short for earnings before interest and taxes) it made on Ford Blue, the division that makes internal combustion vehicles.
"Another political solution to a problem that didn't exist!"
https://robertbryce.substack.com/p/ford-lost-another-12-billion-in-3q?utm_source=post-email-title&publication_id=630873&post_id=150861920&utm_campaign=email-post-title&isFreemail=true&r=3y1rn&triedRedirect=true&utm_medium=email
