Customers are not buying the number of new Capri and Explorer models that Ford had anticipated. So now production is being cut back sharply.
Perhaps apart from Ferrari and Lamborghini, not many European car manufacturers are cheering. And now Ford is actually slowing down production.
The brand is finding it difficult to find enough buyers for the Volkswagen-based electric cars Capri and Explorer.
That's what Automotive News writes.
Ford's plan is concretely to build fewer cars. For now, it will remain that way at the factory in Cologne, where the cars are built, until Christmas.
According to the newspaper Kölner Stadt-Anzeiger, the employees at the factory have been told that there is not enough work for them. Therefore, they have to alternately take one week off and then work the next.
It's bad news for Ford. Mainly because it has cost the brand 2 billion dollars, equivalent to more than 14 billion Danish kroner, to rebuild the factory in Germany for the production of the new electric cars.
It's been really bad business so far. Ford's latest quarterly accounts show that the electric car division, Model e, loses over a quarter of a million kroner on every single electric car that leaves the assembly line.
Automotive News believes that the poor sales hit Ford harder than its competitors. The massive investment in electric cars means that the brand basically no longer sells cars with internal combustion engines.
However, some in the management corridors at Ford in Europe must have read the writing on the wall. Because earlier this year, the car brand dropped its goal of only selling electric cars in our wide range. Still, the brand is closing one of its most iconic factories. Read more about it here .
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