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Ford Motor New Financial Reporting – Billions in EV Losses
Part of today’s presentation showed Ford’s nascent electric vehicle venture – Ford Model e – lost $3 billion before taxes during 2021 and 2022. More such losses are coming in the near term. Helping stem the tide of red ink, Ford Blue – its traditional internal combustion business – is forecast to post a $7 billion pretax profit in 2023, marginally better than last year. Ford Pro is forecast to earn $6 billion before taxes, almost double 2022 earnings. Other business units include corporate, Ford Credit and Ford Next, dubbed a new business incubator. Continue reading →