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Ford is cutting $36,000 on each of its electric cars

Ford is cutting $36,000 on each of its electric cars

Ford also recently reported on the third quarter of this year With its meaning Where, unfortunately, there are not nearly as many cheerful numbers as, for example, in the case of the Chinese BYD. Although the Chinese wagon drives very well, unfortunately Ford can no longer say the same for itself. In their case, the third quarter produced a huge loss, expressed mostly in money, collected by the electricity business.

Ford Motor Company’s third-quarter results unfortunately revealed a huge financial loss, which actually shows to keen eyes that the American manufacturer lost nearly $36,000 on each electric vehicle. This is especially painful in light of the fact that the Mustang Mach-E, for example, recently became the second most popular crossover in the United States after the Tesla Model Y.

Unfortunately, in the case of the F-150 Lightning pickup, the situation is no longer so good, here, unfortunately, Ford has also reduced the third shift, which was presented with great hopes last December. The action, which affects nearly 700 employees, can be traced back to a number of issues, including supply chain issues. The problem ultimately led to a 46 percent drop in electric F-150 sales compared to the same period last year. Specifically, this means 3,503 electric pickups were sold, compared to last year’s number of 6,464. But even in the second quarter of this year, the rate was higher, with 4,466 F-150 Lightning units sold.

Ford was able to sell 20,962 electric vehicles in the third quarter, slightly ahead of General Motors, thanks mainly to increased production of the Mustang Mach-E. Mach-E sales rose 42.5% in the third quarter, with 14,824 units sold, including 5,872 units in September alone. Taking all electronic models as a basis, its shipments increased by 44 percent, resulting in revenue increasing by 26 percent to $1.8 billion.

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But despite the increased sales, unfortunately, due to costs, Ford’s electric business is still making a loss. This seems to have consequences. Ford has decided to withdraw production of the Mustang Mach-E and postpone the construction of two of its battery factories. The affected plants have not been named, but construction of planned plants in Kentucky and Tennessee will continue. The fact that the union (UAW) is pushing for a roughly 25 percent wage increase for about 57,000 workers over the next five years does not help solve the financial problems.

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