Ford Model e Division Narrows Q3 Losses Amid Declining Revenue and Margins
Ford Motor Company's electric vehicle division, Model e, reported a narrowing EBIT loss in the third quarter, dropping from $1.41 billion to $1.058 billion. While this represents a 25% reduction in total losses, the improvement is tempered by a significant 31% decline in revenue, which fell to approximately $1.2 billion. Despite the smaller absolute loss, operating margins actually deteriorated from -79.1% to -86.5% year-over-year. Ford attributes the reduced losses to cost-cutting measures and aligning production with current demand. The company's path to profitability remains long-term, with a break-even target set for 2029. Looking ahead, Ford is banking on its upcoming Fathom midsize electric pickup, scheduled for a Q4 2027 launch, to drive growth. The vehicle will utilize a new Universal EV platform designed to improve manufacturing efficiency and cost structures through simplified assembly processes.
Topics: Automotive Industry Electric Vehicles Financial Performance Model e Division
Read the full article at Motley Fool
Part of the story Ford Model e Division Narrows Q3 Losses Amid Declining Revenue and Margins (6 articles)