Ford's EV Segment Weighed Down By Pricing Pressures, Competition: CEO Jim Farley Points Out 'Very Aggressive Lease Tactics' By Rivals
Portfolio Pulse from Anan Ashraf
Ford's EV segment reported a $1.2 billion EBIT loss in Q3 due to pricing pressures and competition. The company expects a full-year EBIT loss of $5 billion for its EV segment. CEO Jim Farley highlighted aggressive lease tactics by competitors and plans to reduce costs, including developing a low-cost EV platform.
October 29, 2024 | 12:33 pm
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Ford's EV segment reported a $1.2 billion EBIT loss in Q3, with a full-year loss expected at $5 billion. The company faces pricing pressures and competition, leading to a 6.6% drop in premarket trading.
Ford's significant EBIT loss in its EV segment highlights the challenges it faces from pricing pressures and competition. The expected full-year loss and aggressive tactics by competitors have negatively impacted investor sentiment, leading to a notable drop in share price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100