As expected, following the financial results presented by Ford Motor Company (FMC) for the first nine months of 2024, the losses related to the Ford Model e branch in 2024 are, in the end, colossal. For the fiscal year 2024, FMC reports a loss of $5.1 billion solely for Ford Model e, its department dedicated exclusively to electric cars and other vehicles. As for the overall revenue of FMC for 2024, it is $185 billion, with a net income of $5.9 billion.
On one hand, there have been significant investments made in recent years by FMC to highlight a catalog of electric cars, from the development of these same EVs (Electric Vehicles) or BEVs (Battery Electric Vehicles), to their commercialization, including the industrialization phase. On the other hand, sales are far from being enough to stabilize the situation of Ford Model e. The result: a loss of $5.1 billion for Ford Model e in 2024. In Europe, Ford has already responded by announcing, in November 2024, the elimination of 4,000 jobs by 2027.
In its statement, FMC states: “Ford Model e reported a full-year EBIT loss of $5.1 billion, as the company continues to invest in future products. The segment delivered $1.4 billion in cost improvements, net of a $100 million increase in spending to launch new battery plants and next-generation electric vehicles.”
A loss of $5.1 billion for Ford Model e in 2024 and a gain of $5.3 billion this time for internal combustion engine and hybrid vehicles via the Ford Blue branch. In other even more significant figures, this translates to 2,862,000 internal combustion engine and hybrid vehicles sold by FMC worldwide in 2024, compared to only 105,000 electric cars and other vehicles.
Finally, to return to the European automobile market, within the EU, sales of electric cars fell by 5.9% in 2024, according to figures published by the ACEA.
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Photos: FMC
