Wednesday, May 22, 2024

Ford loses 1 million kroner on each and every electric car

This does not apply to Ford's electric cars. In the course of the first quarter of this year alone, the brand has lost almost one million on every single electric car the brand has sold.

Ford's electric car division is not a good business. This is revealed by the latest quarterly accounts, which have just been presented.

CNN writes that.

In the course of the first three months of 2024, Ford has sold 10,000 electric cars. But it has cost the car brand hideous sums. In fact, it has turned into a loss of a whopping 1.3 billion dollars.

This corresponds to each car being a business with a loss of 132,000 dollars, corresponding to 917,000 Danish kroner.

READ ALSO: English police seize 214,000 cars a year

The department, which Ford calls Model e, can note with the 10,000 cars sold that sales have fallen 20 percent compared to the same period last year.

The American car brand also reveals that revenue in the Model e division has plummeted by as much as 84 percent. Still, it does not move Ford's goal of only building electric cars.

How it is related to the fact that director Jim Farley recently promised that Ford will forever stick with the V8-engined sports car Mustang, there is no answer to in the accounts.

However, Ford does not expect the bad times to be over. In fact, it is expected in the boardrooms that the business will have lost as much as 5 billion dollars on electric cars before the end of the year.

The loss on electric cars is also significantly larger than what Ford told about in the third quarter of 2023. Here it was assumed that one could manage with a loss of a quarter of a million kroner per electric car. Read more about it here . It is now screwed up hugely.

Conversely, it is also not because the rest of Ford's business is doing extremely well. Ford Blue, which builds and sells cars with internal combustion engines, has lost sales worth $905 million.

However, there is one bright spot. The commercial vehicle division, Ford Pro, can post sales that have increased by 21 percent during the first quarter of 2024. This corresponds to 409,000 cars.

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

Latest

Don't miss

Woman loses her choir card – was stopped on the pavement

A woman has paid a very high price because...

Director will ban electric car owners from using these plugs

A charging operator wants to ban electric car owners...

Ford is recalling 5,000 cars that may not be repairable

It is not only in the United States that...

China brand pulls out of China completely and moves to Europe

The troubled Chinese brand Aiways is now leaving China...

Austria introduces strict requirements against trucks – breaks EU law

Austria has imposed a number of strict requirements on...
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

The car brand Fisker is closing its business in Denmark

Bankruptcy-threatened Fisker Inc. closes its own business in Denmark. Instead, the car brand refers to its partner garages. Fisker's own business is a thing...

Austria introduces strict requirements against trucks – breaks EU law

Austria has imposed a number of strict requirements on business transport on one of Europe's most important motorway networks. The EU is now criticizing...

Ferrari named Italy's best workplace

They screw up some of the world's finest cars, get money and, on top of that, wild bonuses for it. Now Ferrari's factory in...

Director explains: "That's why Saab died as a car brand"

When the US government rescued the bankrupt General Motors, it was on the basis of a number of strict conditions, including cost Saab his...

Alpine has built a new V6 engine that burns hydrogen

The question of what tomorrow's car models will be based on has not yet been decided. Alpine proposes hydrogen for a new V6 engine....

Now Lamborghini is also planning – the electric car might not be a good idea

Lamborghini will probably send an electric car to the street, but it won't be until 2028, and it's not a supercar. Such a person...

New EU rule makes petrol and diesel much more expensive in Denmark

A new quota system for CO2 emissions is on its way through the EU system. When it comes into force in 2027, diesel and...

Former Koenigsegg designer will make his own car this year

Sasha Selipano is the man behind the lines of the Koenigsegg Gemera. Now he stands on his own two feet with a brand new...

Polestar receives a new warning – will be thrown off the stock exchange in 60 days

The Chinese car brand Polestar has received a new warning because the stock exchange in New York has not yet received an annual report....

Lamborghini's new V8 engine takes 10,000 revolutions

Lamborghini's V10 engine is on its way out. The replacement - a V8 - lacks two cylinders but instead takes more revolutions. When we...

Metallica introduces electric transport together with IVECO

Can you be heavy metal and at the same time sing big trucks that say nothing? Yes, if you ask Metallica. IVECO has partnered...

New Volvos gossip when other drivers break the law

Volvo has applied for a patent for a solution that enables new cars to gossip about other drivers with camera surveillance. Also backwards. With...
footer.txt Viser footer.txt.