Ford’s cost problem isn’t just about electric vehicles
Ford’s cost problem isn’t just about electric vehicles
Ford engine lost about $37,000 on every electric vehicle sold last quarter. It doesn’t help that the company’s gas engine business also costs more than it should — a difference from rival General Motors that investors ignore at their peril.
The third-quarter results Ford reported Thursday weren’t great, with adjusted operating profit of $2.2 billion. That’s better than this time last year, when the company was forced to issue a profit warning, but worse than the $2.7 billion analysts expected. For comparison, GM’s third-quarter operating profit was $3.6 billion. Ford shares were down about 4% premarket Friday.
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