But they made it up in volume: Ford loses $ 132,000 on every EV in 1st qtr of 2024

[Bill]

https://justthenews.com/politics-pol...t-quarter-2024

Ford lost $132,000 on each electric vehicle it sold in the first quarter 2024

The company’s other sectors, which includes its Ford Pro fleet business and Ford Blue gas-powered and hybrid vehicle business, made up for the losses on its EV lines.



Ford announced Wednesday losses of $1.32 billion on its Ford Model-e sector, which represents the company’s electric vehicle business. With 10,000 units sold, the company lost $132,000 on each EV it sold.

In the fourth quarter of 2023, the company sold 34,000 units in its Model-e business, which produced $1.57 billion in losses, or roughly $46,176 on each EV sold.

“The company expects EV costs to improve going forward, but be offset by top-line pressure,” the company said in a press release.

The company’s other sectors, which includes its Ford Pro fleet business and Ford Blue gas-powered and hybrid vehicle business, made up for the losses on its EV lines. Hybrid vehicles combine aspects of EVs and gas-powered engines. The company posted a net income of $1.3 billion in the first quarter, with revenues of $42.8 billion.

[vettemed]

[DDSLT5]

THAT..............................is a shame.

[GrandSportC3]

Not a surprise. Tesla lost money for like 8 or 9 years before they became profitable. Also, Tesla is killing the competition on price. They have the lowest price and still make a profit at that price.

[SurfnSun]

I wonder if that is net or gross. I believe they are getting a ton of carbon credits back from the gov't for selling those things.

[RedLS1GTO]

Originally Posted by GrandSportC3

Not a surprise. Tesla lost money for like 8 or 9 years before they became profitable. Also, Tesla is killing the competition on price. They have the lowest price and still make a profit at that price.

On an average day, how many times do you say (or type) the word Tesla?

[Little Red L98.]

Ford puts cars into production when engineers say not to. Fkm.

https://www.freep.com/in-depth/money...ms/4243091002/

[GTOguy]

Originally Posted by GrandSportC3

Not a surprise. Tesla lost money for like 8 or 9 years before they became profitable. Also, Tesla is killing the competition on price. They have the lowest price and still make a profit at that price.

Without government aid and selling pollution credits, Tesla would be a loser. Standing alone building and selling only EV's, it would be out of business in short order. Like other EV producers, it is inherently parasitic.

[Vandelay Industries]

But restaurants gain $$ from selling warm meals to EV drivers, so it's a win-win.

[GrandSportC3]

Originally Posted by GTOguy

Without government aid and selling pollution credits, Tesla would be a loser. Standing alone building and selling only EV's, it would be out of business in short order. Like other EV producers, it is inherently parasitic.

Not true. Sales would slightly decrease but not a huge difference. Cars would just sell slightly slower but people would still buy them. Tesla sold very very well during the time that they charged over $65k for a Model Y and there was no tax credit.

[Onebadcad]

They need to fire the management team, and all upper-level managers.

Then hire OBC, as I would tell them to make only Mustangs, F-series, SUVs and figure out how to make at least 10X the current production of GTs, as all are presold and they could sell every damn one they make.

Of course as CEO, we would have a Thursday evening managment meetings at the strip club, and then rehash all the strategies discussed on the golf course on Friday.

[DDSLT5]

Originally Posted by GrandSportC3

Not a surprise. Tesla lost money for like 8 or 9 years before they became profitable. Also, Tesla is killing the competition on price. They have the lowest price and still make a profit at that price.

Well - other than the battery, it is a very low quality car - cheap to produce.