Automakers Struggle with Shift from Small Cars to SUVs and EVs
Automakers like Ford are facing financial challenges after prioritizing larger vehicles and electric SUVs over smaller, more affordable cars. The electric vehicle market is not meeting projections, leading to significant losses for companies like Ford, Mercedes, and General Motors. Ford’s decision to discontinue small car models in favor of electric vehicles has resulted in substantial financial losses, with the company reporting a $1.3 billion loss from the sale of just 10,000 electric vehicles.
Ford’s First-Quarter Earnings for 2024 Show Successes and Challenges in EV Market
Ford’s first-quarter earnings for 2024 have been making headlines, with the company experiencing a mix of successes and challenges in the electric vehicle (EV) market. Despite beating analyst expectations overall, Ford faced an 84% decline in EV revenue in Q1 2024. One of the key highlights for Ford was the significant increase in EV sales, with the F-150 Lightning emerging as the top-selling electric pickup in the US and the Mustang Mach-E securing its position as the second best-selling electric SUV. However, Ford announced delays in EV production at its BlueOval City facility, pushing the timeline to 2026.
Ford to Recall 42,652 Bronco Sport and Escape Vehicles Due to Fuel Injector Issue
Ford to recall 42,652 Bronco Sport and Escape vehicles in the US due to fuel injector issue. NHTSA reports proactive measures being taken by Ford to address the issue and prevent potential fires. Stay informed with the latest automotive industry news from CBT News.
Ford Motor Company Exceeds Expectations for Fourth Quarter and Provides Positive 2024 Outlook
Ford Motor Company has exceeded Wall Street’s expectations for the fourth quarter, reporting better-than-expected financial results and providing a positive outlook for 2024. The company’s forecast includes adjusted earnings before interest and taxes (EBIT) of between $10 billion and $12 billion, adjusted free cash flow of $6 billion to $7 billion, and capital spending of $8 billion to $9.5 billion, surpassing analyst expectations. Ford also announced a special dividend of 18 cents per share and a first-quarter regular dividend of 15 cents per share, leading to a surge in shares during afterhours trading.
Volkswagen’s Early Design Exploration for Ford Everest-like SUV
What could have been: Ford Everest-like VW Amarok SUV 24 Jan 2024 An official early design exploration for the VW Amarok. The Ford and Volkswagen collaboration has proved successful, spawning the enduringly popular Ranger and Amarok utes. Recently, a new…
Ford and Lincoln Unveil New Android-Based Infotainment System
Ford and Lincoln have unveiled their latest infotainment system, Digital Experience, which is based on Android technology and offers a range of new features including the ability to download apps and watch videos on the touchscreen. The 2024 Lincoln Nautilus…
Ford Announces Major Recall of 1.89 Million Explorer SUVs Due to Safety Hazard
Ford has announced a major recall of approximately 1.89 million Explorer SUVs due to a safety hazard. The recall affects Ford Explorer sports utility vehicles from model years 2011 through 2019. The issue stems from the trim potentially detaching, posing…
2024 Ford Mustang Dark Horse to Hit Auction Block for Charity
Exciting news for car enthusiasts and philanthropists alike as the first-ever 2024 Ford Mustang Dark Horse is set to hit the auction block, with all proceeds going to the Juvenile Diabetes Research Foundation (JDRF). Ford has partnered with Barrett-Jackson, the…
2024MY Ford Mach E Unveiled with New Performance and Bronze Appearance Package
The 2024MY Ford Mach E has been unveiled with an impressive new performance and Bronze Appearance package, injecting some much-needed flair into the background of the EV market. The new package includes star-like 20-inch alloy wheels reminiscent of those found…