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Ford’s cost problem isn’t just about electric vehicles

Ford’s cost problem isn’t just about electric vehicles

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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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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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