Thursday, December 26, 2024

Ford loses DKK 262,000 on each and every electric car

Ford has just presented quarterly accounts with horribly large losses. In fact, Americans lose 262,000 kroner on each and every electric car.

Ford's quarterly accounts reveal an unpleasant truth. Ford loses DKK 262,000 on every electric car they sell.

Although the brand increased its overall profit in the third quarter, electric cars continue to be a bleeding financial burden.

The transition to electric cars is a challenge for many established car manufacturers, and Ford is no exception.

The company has chosen to separate its electric car production into a separate company, and the results are disappointing. Despite a reduction in costs of DKK 10.6 billion and a drop in production costs for the Mustang Mach-E of DKK 35,000, Ford lost DKK 8.37 billion on the sale of 32,000 electric cars.

This corresponds to a loss of DKK 262,000 per electric car sold.

READ ALSO: Ford withdraws from Denmark

– We will continue to be focused on costs and become leaner as a company, says director Jim Farley.

Falling prices for electric cars and rising costs are contributing to Ford's losses. Earlier in the quarter, the brand had to abandon plans to launch a large electric SUV, which entailed additional costs.

Ford's profit in the third quarter is primarily due to the success that commercial vehicle division Ford Pro has had with sales of pickups and vans. The Pro department recorded revenue growth of 10 percent and a profit of just under 13 billion Danish kroner.

The high margin of 11.6 percent per car in the Ford Pro is something that most other car brands rightly envy. Volkswagen earns significantly below DKK 1,000. per car. Read more about it here .

Ford's quarterly accounts clearly show the challenges associated with converting to the production of electric cars. At competitor Stellantis, the economy is under such pressure that several legendary brands are threatened with closure. For Chrysler, it could be over in just two years. Find that story and many more here at Boosted.dk.

Read more exciting news from and about the world of cars right here!

Latest

Don't miss

KTM close to bankruptcy – employees will not receive any pay in December

Austrian-owned motorcycle brand KTM has been given 90 days...

Here the Christmas season can create a problem for people in electric cars

The Christmas season brings a lot of traffic on...

Honda is betting big on several new gasoline engines

Despite reports that the electric car will be the...

Director still believes the last "Saab" will become something

Things are looking bleak for NEVS, which itself bought...

Watch the video: Celine eats parts of her Audi

Celine actually eats parts of her Audi. And apparently...
Boosted Magazine
Boosted Magazine
Boosted in Denmark has over a million unique users, surpassing two million sessions, and accumulating over seven million page views each month, and our platforms has become a hub for automotive enthusiasts. Now you can enjoy our content in English too! Enjoy our free car news - every day. Want to talk to us? Write an email to boosted@boostedmagazine.com
spot_img

Hybrid cars are the road to Hell, says fired car executive

He was fired as Aston Martin's CEO and now works with charging stations. Yet Andy Palmer calls hybrid cars the road to Hell. Former...

He invented dangerous gasoline and was poisoned himself

It was General Motors engineer Thomas Midgley Jr. who invented leaded gasoline. But when the invention was to be presented to the public, he...

Car giant regrets – will not build only electric cars in 2035

The world's fourth-largest car group, Stellantis, is now regretting its previous statement. The management says that it will not only build electric cars in...

Lamborghini has been supplying cars to police for 20 years

The partnership between the Italian police and Lamborghini Automobile is celebrating its 20th anniversary. Most recently, the Sant'Agata brand delivered a Urus Performante. Lamborghini...

England suffers – car production is the lowest since 1980

Car production has not performed worse in 38 years. Not since 1980 have so few cars been built in England. Not even though more...

Renault gearbox has 15 gears but no clutch

The new engine manufacturer Horse Powertrain, of which Renault is a part, has developed a gearbox with as many as 15 gears and no...

Half of drivers drive at least 25 km/h too fast

While 36 percent admit that they drive too fast in denser built-up areas, almost half admit that they drive at least 25 km/h too...

163 employees worked 'like slaves' at Chinese BYD

A total of 163 employees worked under what authorities are calling slave-like conditions at a Chinese BYD factory in Brazil. The discovery has already...

BMW fires more employees after scandal in Russia

BMW has fired a number of employees after it emerged that more than 100 cars were smuggled into the country. BMW has fired several...

The Russians give the Lada Niva 124 horses and call it "Sport"

Avtovaz, which came into Russian hands when Renault fled the country in 2022, has given the Lada Niva 122 horsepower and called the car...

Pressed Trump: So Elon Musk is not president

Donald Trump would really like to buy Greenland. But at home in the US he has to shoot down rumors about Tesla CEO Elon...

BMW reports sold out of car that doesn't exist yet

It doesn't even exist yet. And BMW was very doubtful whether it would even be built. But now the Skytop Roadster is sold out....
footer.txt Viser footer.txt.