Ford profits from the commercial vehicle business

The Ford brand continued to suffer heavy losses with its electric vehicles. On the other hand, the hybrid commercial vehicle business is booming.

American giant Ford continued to make big losses in electric cars. However, he benefited from the good business of driving hybrid cars and commercial vehicles.

In the last quarter, sales rose a healthy three percent year-over-year to $42.8 billion, beating analysts’ expectations. The bottom line is that profit fell to $1.3 billion from $1.8 billion a year ago. Shares temporarily rose more than two percent in after-hours trading on Wednesday.

A loss of $1.3 billion in the electric vehicle category

The electric vehicle division posted an operating loss of $1.3 billion, while the combustion engine business was in the dark at $905 million. The biggest money maker was once again the commercial vehicle division Ford Pro with an operating result of a healthy three billion dollars.

In recent years, American car giants have tried to imitate Tesla’s pioneers with large-scale electrification of their models. However, they scaled back their expectations after the electric car market in the US cooled significantly – while their combustion and hybrid models continued to sell well.