Kathianne
10-28-2023, 01:52 PM
Understatement of the decade. No mention even of the AUW contract approval. It seems so important that the government try to tell manufacturers and the public what they want and will buy:
https://hotair.com/headlines/2023/10/28/ford-lost-62016-for-every-ev-it-sold-in-q3-n588321
Ford Lost $62,016 For Every EV It Sold In Q3ROBERT BRYCE FROM ROBERT BRYCE SUBSTACK 2:40 PM on October 28, 2023
The bloodbath in Ford Motor Company’s EV division continues. On Thursday, Ford reported an operating loss of $1.3 billion in its EV division during the third quarter. That translates into a loss of $62,016 for each of the 20,962 EVs it sold during the period.
That’s a smaller loss than the company recorded in the second quarter, when it lost $72,762 for each EV and the $66,446 it lost per EV during the first quarter. In a press release, the company said the $1.3 billion loss was “attributable to continued investment in next-generation EVs and challenging market dynamics.” It also cited “EV price pressure.” Those “market dynamics” and price pressures are resulting in knee-buckling losses.
The third-quarter loss on the EV business of $1.3 billion, combined with a $1.1 billion second-quarter EV loss and a first-quarter EV loss of $722 million, means that FoMoCo has already lost about $3.1 billion on its EV business this year. As I noted in these pages in July, the company said it expected to lose $4.5 billion on its EV business in 2023.
[Holy CRAP. ~ Beege]
https://hotair.com/headlines/2023/10/28/ford-lost-62016-for-every-ev-it-sold-in-q3-n588321
Ford Lost $62,016 For Every EV It Sold In Q3ROBERT BRYCE FROM ROBERT BRYCE SUBSTACK 2:40 PM on October 28, 2023
The bloodbath in Ford Motor Company’s EV division continues. On Thursday, Ford reported an operating loss of $1.3 billion in its EV division during the third quarter. That translates into a loss of $62,016 for each of the 20,962 EVs it sold during the period.
That’s a smaller loss than the company recorded in the second quarter, when it lost $72,762 for each EV and the $66,446 it lost per EV during the first quarter. In a press release, the company said the $1.3 billion loss was “attributable to continued investment in next-generation EVs and challenging market dynamics.” It also cited “EV price pressure.” Those “market dynamics” and price pressures are resulting in knee-buckling losses.
The third-quarter loss on the EV business of $1.3 billion, combined with a $1.1 billion second-quarter EV loss and a first-quarter EV loss of $722 million, means that FoMoCo has already lost about $3.1 billion on its EV business this year. As I noted in these pages in July, the company said it expected to lose $4.5 billion on its EV business in 2023.
[Holy CRAP. ~ Beege]