{"id":15591,"date":"2024-10-29T14:49:48","date_gmt":"2024-10-29T15:49:48","guid":{"rendered":"https:\/\/medexperts.pro\/?p=15591"},"modified":"2024-10-29T16:25:14","modified_gmt":"2024-10-29T16:25:14","slug":"g-m-s-electric-vehicle-sales-surge-as-ford-loses-billions","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=15591","title":{"rendered":"G.M.\u2019s Electric Vehicle Sales Surge as Ford Loses Billions"},"content":{"rendered":"
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Ford is struggling to make money on battery-powered models while General Motors, which started more slowly, says it is getting close to that goal.<\/p>\n

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In the race to be second to Tesla in the U.S. electric vehicle market, Ford Motor leaped to an early lead four years ago over its crosstown rival, General Motors, with the Mustang Mach E<\/a>, an electric sport utility vehicle with a design and a name that nodded to its classic sports car.<\/p>\n

But the contest looks much different today.<\/p>\n

Sales of G.M.\u2019s battery-powered models are starting to surge as the company begins to reap its big investments in standardized batteries and new factories. Ford\u2019s three electric models, including the F-150 Lightning<\/a> pickup truck and a Transit van, are still selling well but are racking up billions of dollars of losses.<\/p>\n

The latest view into how Ford\u2019s quick-start strategy<\/a> has run into trouble came on Monday, when the company reported that its electric vehicle division lost $1.2 billion before interest and taxes from July to September. In the first nine months of the year, it lost $3.7 billion.<\/p>\n

Ford\u2019s chief financial officer, John Lawler, said it was a \u201csolid quarter,\u201d noting that revenue had risen for the 10th quarter in a row, by 5 percent to $46.2 billion. But the company\u2019s overall profit of $896 million in the third quarter was down 24 percent from a year earlier, largely because of problems with electric vehicles, warranty costs and other factors.<\/p>\n<\/div>\n<\/div>\n

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\u201cOur strategic advantages are not falling to the bottom line the way they should because of cost,\u201d Mr. Lawler said.<\/p>\n<\/div>\n<\/div>\n

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Ford made an early entry into the electric vehicle market compared to other established automakers with the Mustang Mach E.<\/span>David Zalubowski\/Associated Press<\/span><\/span><\/span><\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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Ford is struggling to make money on battery-powered models while General Motors, which started more slowly, says it is getting close to that goal.In the race to be second to Tesla in the U.S. electric vehicle market, Ford Motor leaped to an early lead four years ago over its crosstown rival, General Motors, with the Mustang Mach E, an electric sport utility vehicle with a design and a name that nodded to its classic sports car.But the contest looks much different today.Sales of G.M.\u2019s battery-powered models are starting to surge as the company begins to reap its big investments in standardized batteries and new factories. Ford\u2019s three electric models, including the F-150 Lightning pickup truck and a Transit van, are still selling well but are racking up billions of dollars of losses.The latest view into how Ford\u2019s quick-start strategy has run into trouble came on Monday, when the company reported that its electric vehicle division lost $1.2 billion before interest and taxes from July to September. In the first nine months of the year, it lost $3.7 billion.Ford\u2019s chief financial officer, John Lawler, said it was a \u201csolid quarter,\u201d noting that revenue had risen for the 10th quarter in a row, by 5 percent to $46.2 billion. But the company\u2019s overall profit of $896 million in the third quarter was down 24 percent from a year earlier, largely because of problems with electric vehicles, warranty costs and other factors.\u201cOur strategic advantages are not falling to the bottom line the way they should because of cost,\u201d Mr. Lawler said.Ford made an early entry into the electric vehicle market compared to other established automakers with the Mustang Mach E.David Zalubowski\/Associated PressWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":15593,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-15591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/15591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15591"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/15591\/revisions"}],"predecessor-version":[{"id":15594,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/15591\/revisions\/15594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/15593"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}