Billions in losses with electric cars: Ford pays

Things are not looking good at Ford’s electric car division: there was a billion dollar loss in the first quarter. The automaker loses more than 100,000 euros per Stromer.

Electromobility is in crisis – not only in Germany, where new electric car registrations also fell in March. Major car rental companies such as Sixt and Hertz have significantly scaled back their plans to purchase electric vehicles – in some cases even selling cars from their current fleets. The reasons were very low demand and high repair costs A significant loss in the value of electric vehicles to be called These developments did not leave Ford unscathed either: the automaker reported a significant loss in its electric vehicle division for the first quarter.

Ford: loss of 123,000 euros per electric car sold

Dem Ford quarterly report According to this, the loss in the electric car division (Ford Model e) rose to 1.3 billion US dollars (equivalent to about 1.2 billion euros, until the end of April 2024) in the first quarter of 2024. That corresponds to almost 132,000 US dollars (about 123,000 euros) that Ford paid extra for each of the 10,000 electric cars sold in the first three months of the year.

Overall, sales of electric vehicles fell by 20 percent in the first quarter. And the prospects for the near future don’t look too rosy either: Ford expects that the costs of electric cars can be reduced – but this benefit will be limited by sales pressure.