{"id":2231951,"date":"2024-04-28T10:12:02","date_gmt":"2024-04-28T14:12:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-reports-loss-on-every-ev-sold-in-first-quarter\/"},"modified":"2024-04-28T10:15:58","modified_gmt":"2024-04-28T14:15:58","slug":"ford-reports-loss-on-every-ev-sold-in-first-quarter","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-reports-loss-on-every-ev-sold-in-first-quarter\/","title":{"rendered":"Ford experienced a loss on each electric vehicle sold in the first quarter"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fford-reports-loss-on-every-ev-sold-in-first-quarter%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2231951&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Ford \u200dfaced \u2063a significant setback, losing $1.3 \u200bbillion in its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-loses-billions-on-electric-cars-embraces-hybrids\/\" title=\"Ford loses billions on electric cars but embraces hybrids.\">electric vehicle division<\/a>.\u2063 This substantial loss was attributed to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pizza-company-dp-eurasia-posts-h1-sales-growth\/\" title=\"Pizza company DP Eurasia posts H1 sales growth\">strategic pricing<\/a> adjustments\u2063 and increased research investments. The company generated $100 million\u2062 in revenue from electric vehicles despite the financial challenges. For more details, click on &#8220;Read more&#8230;&#8221; below. Ford encountered a notable setback, with a $1.3 billion loss in its electric vehicle segment. \u200bThis significant deficit was linked to strategic pricing changes and augmented research funding. Despite \u2063the financial hurdles, the company\u200b managed to generate $100 \u2062million in electric vehicle\u200b revenue. To delve deeper into this, click on &#8220;Read more&#8230;&#8221; below.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p><a href=\"http:\/\/washingtonexaminer.com\/tag\/ford\" target=\"_blank\" rel=\"noopener\" title>Ford<\/a> lost $1.3 billion in its <a href=\"http:\/\/washingtonexaminer.com\/tag\/electric-vehicles\" target=\"_blank\" rel=\"noopener\" title>electric vehicle <\/a>department during the <a href=\"http:\/\/washingtonexaminer.com\/tag\/business\" target=\"_blank\" rel=\"noopener\" title>first quarter<\/a> of 2024, which is about $132,000 per vehicle it sold.<\/p>\n<p>The loss is due to the car maker lowering the price of its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-climate-agenda-wont-replace-jobs-it-seeks-to-kill-separate-ap-wapo-fact-checks-suggest\/\" title=\"Biden\u2019s Climate Agenda Won\u2019t Replace Jobs It Seeks To Kill, Separate AP, WaPo Fact-Checks Suggest\">electric models<\/a> while also appropriating funds for further research. Electric vehicle revenue brought in $100 million, which is an 84% drop from last year.<\/p>\n<p>It is expected that Ford will continue to lose money on its EV models, as the company predicts a total loss of $5 billion this year. Last year, the company lost $4.7 billion in its electric division, which was about $40,525 per vehicle it sold.<\/p>\n<figure><figcaption>A Ford Mustang Mach-E electric vehicle with Ford BlueCruise Hands-Free Highway Driving is at the New York International Auto Show in New York on Saturday, March 30, 2024. (AP Photo\/Ted Shaffrey)<\/figcaption><\/figure>\n<p>Meanwhile the Ford Pro department, which primarily sells internal combustion models, reported a profit of $3 billion. Its Ford Blue department made a revenue of $21 billion, but this was actually a 13% decrease. So, when totaled altogether, Ford\u2019s overall profit was $1.3 billion \u2014 one-fifth less than the previous year.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Across the United States, consumers bought <a href=\"https:\/\/www.anl.gov\/esia\/light-duty-electric-drive-vehicles-monthly-sales-updates\" target=\"_blank\" rel=\"noopener\" title=\"352,390 plug-in vehicles\">352,390 plug-in vehicles<\/a> during the first quarter. Ford accounted for 10,000 of those <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-treasury-department-ignoring-national-security-responsibilities-experts-say\/\" title=\"Biden\u2019s Treasury Department Ignoring National Security Responsibilities, Experts Say\">car sales<\/a>.<\/p>\n<p>Toyota seems to dominate the market after having sold 50% of EVs purchased in March. Some <a href=\"https:\/\/pressroom.toyota.com\/toyota-motor-north-america-reports-march-first-quarter-2024-u-s-sales\/\" target=\"_blank\" rel=\"noopener\" title=\"36.6% of total sales\">36.6% of total sales<\/a> for its first quarter were made up of EV models, which was a 74% increase.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the first quarter of 2024, Ford&#8217;s electric vehicle division incurred a $1.3 billion loss, equating to approximately $132,000 per vehicle sold. This was influenced by price reductions on electric models and allocations for research. Despite this, revenue from electric vehicles totaled $100 million<\/p>\n","protected":false},"author":2631,"featured_media":2231952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/03\/AP18115373868113.jpeg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2231951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/03\/AP18115373868113.jpeg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2231951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2631"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2231951"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2231951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2231952"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2231951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2231951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2231951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}