Ford Cuts EV Investment After Losing $36,000 On Every EV Sold In Q3

[redriderbob]

Ford Cuts EV Investment After Losing $36,000 On Every EV Sold In Q3​

After posting a $1.3 billion loss in Q3, Ford's Model e EV unit said it would cut Mustang Mach-E production and delay a battery plant.​

Ford Motor Company's third-quarter earnings revealed rising EV losses caused mainly by slowing demand and the EV price war initiated by Tesla at the start of the year.

Ford managed to sell 20,962 electric vehicles in Q3, beating General Motors by a slight margin thanks largely to increased Mustang Mach-E production – Mach-E sales rose 42.5 percent in Q3 with 14,824 units sold, 5,872 of which in September alone.

The carmaker's EV deliveries increased by 44 percent, leading to a 26 percent growth year-over-year in revenue to $1.8 billion for the Ford Model e EV unit.

Ford Cuts EV Investment After Losing $36,000 On Every EV Sold In Q3

Despite a 44 percent increase in EV deliveries, Ford's EV losses continued to rise in the Q3, with the company posting an operating loss of $1.3 billion.

insideevs.com

 

[patfromigh]

The article didn't give specific mention to the Ford E-Transit model. I'm curious about the sales and profitability of that model because it competes against the soon to arrive Ram ProMaster EV.

 

[TripleT]

Good to see the OEM pushing back.... be interesting to see what CARB state response will be..... I would put the ICE FINE ON THE WINDSHEILD.

 

[patfromigh]

London has started, and now NYC wants to ban ICE powered vehicles. I think what the proposed ban in NY really is about is ICE vehicles will have a transponder to record the daily "fine". This will ignore the fact that ICE powered vehicles are emissions free when turned off while parked.