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Ford Model e losing billions as it says EV unit should be seen as startup

DETROIT — Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn't say exactly when it's expected to start making money. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. “As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” he said. Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van. The new corporate reporting system, Lawler said, is designed to give investors more transparency than the old system of reporting results by geographic regions. The automaker calculated earnings for each of the three units during the past two calendar years. Model e had pretax losses of $900 million in 2021 and $2.1 billion last year, and it is expected to lose $3 billion this year. In the past two years Ford has announced it would build four new battery factories and a new vehicle assembly plant as well as spending heavily to acquire raw materials to build electric vehicles. By the end of this year, the company based in Dearborn, Michigan, expects to be building electric vehicles at a rate of 600,000 per year, reaching a rate of 2 million per year by the end of 2026. Ford Blue, the unit that sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, the commercial vehicle unit, made $5.9 billion during those years, the company said. For this year, Ford expects Ford Blue to post a $7 billion pretax profit, modestly better than last year. Ford Pro is expected to earn $6 billion before taxes, nearly double its earnings last year, Lawler said. Ford was to present the new structure, announced last March, to analysts and investors on Thursday.

Alfa Romeo 33 Stradale revealed, Dodge Challenger Black Ghost driven | Autoblog Podcast #796

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor John Beltz Snyder. John has been driving the 2024 Jeep Wrangler Rubicon 392, while Greg has been making noise in another last call from Dodge, the 2023 Challenger Black Ghost. John, along with Associate Editor Byron Hurd, recently tested the 2023 Honda CR-V and Kia Sportage hybrids for an upcoming comparison review. In the news, Felipe Massa seeks to overturn the 2008 F1 Championship in his favor through legal means; Ford might return to the street-performance truck scene with the F-150 Lobo; Volkswagen has been hinting at something interesting at the Munich show by tweeting a mysterious video of a rabbit (the animal); and while the podcast recording was underway, Alfa Romeo unveiled its beautiful 33 Stradale supercar. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #796 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2024 Jeep Wrangler Rubicon 392 2023 Dodge Challenger Black Ghost Additional reading: 1970 Dodge Challenger Black Ghost hammers for $975,000 at Mecum Spring Classic 2023 Honda CR-V Sport Touring Hybrid vs. 2023 Kia Sportage Hybrid SX Prestige Massa vows to fight for Hamilton's 2008 Formula 1 title Ford F-150 Lobo reportedly coming as street-oriented performance truck Volkswagen teases Rabbit in mysterious video Alfa Romeo 33 Stradale supercar revealed with gas and EV versions, gorgeous either way Additional reading: Alfa Romeo 33 Stradale is a fast Alfa, developed fast Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Green Podcasts Alfa Romeo Dodge Ford Honda Jeep Kia Volkswagen Truck Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Supercars

Ford Focus 1.0-liter Ecoboost to only get manual trans in US

Photos of the 2015 Ford Focus leaked earlier today, but now we're able to tell you more details of the global five-door hatchback. Bucking automaker's troubling trend of ditching manual transmissions in favor of automatics, Ford says the new 1.0-liter EcoBoost engine will come only in a six-speed manual in the US, because, well, American drivers aren't as sophisticated as our European brothers and sisters.
Ford didn't come out and say it that way, but it has found American drivers are more prone to complain about automatics in smaller-engine cars, Raj Nair, Ford's group vice president of global product development, said at a press conference last week. The recent JD Power Vehicle Dependability Study backs up Ford's claims, pointing out that drivers are complaining about rough transmission shifts, engine hesitation and lack of power, particularly in small cars. In Europe and other parts of the world, drivers seem to understand the quirks of these pint-sized engines, Nair said, so they'll have the option to buy an automatic. Ford is working on tuning its dual-clutch transmissions to make them more amenable to American driver's tastes.
Ford will show off the refreshed 2015 Focus at the Geneva Motor Show in early March. The car is due for an update, having been on sale in its current form since 2012. The automaker said it is jamming the car full of new technology - like a USB port that promises to charge your phone in half the time as a regular USB port. Features like Sync and a rear back-up camera will come standard. For a more in-depth look at the car, take a look at the full press release.