Sunday, July 14, 2024

Ford admits loss of billions on popular car in Denmark

There was a time when you almost couldn't kick your way through traffic for sedans from Ford. But it was bad business, the brand now admits.

Regular Boosted readers probably remember the Ford Mondeo. Nor has it been that long since the model disappeared from the program.

But there was actually one overriding reason for the disappearance number. Ford lost billions of dollars, euros and kroner in the sedan segment.

This is what Ford's CEO Jim Farley says in an interview with YouTuber Matt Farah.

Similar to the model range in the USA, you can't actually find a new Ford sedan model at home. The latest here at home was the Mondeo (Fusion in the USA, ed.), which disappeared in March 2022 when production stopped at the brand's factory in Valencia, Spain.

READ ALSO: Woman was 4 km/h from losing 1-month-old Tesla

However, the name lives on on a sedan-like model. But that car is only reserved for the Chinese, which Ford in Denmark found it necessary to point out to Boosted. Read more about it here .

Even Jim Farley says that he actually loves the sedan shape. During his time at Ford, Farley was, among other things, product manager on Toyota's Camry assembly line in the 90s.

– You are looking at one man who loves the sedan. But the truth is we lost billions on them. And we are no longer in a position where we can afford to lose billions on cars.

In the interview, Jim Farley also makes it very clear that cars like the Focus and Fiesta will not come again either. Not even though Ford might be able to make money on it.

The reason is obvious. There is simply more money to be made in other segments. And Ford needs money. The car brand loses DKK 1 million on every single electric car they build. Read more about it here .

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

https://youtu.be/JyyWb6A0PTI?si=BtylSMenynLOtk44

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