Ford’s Small Car Comeback? CEO Shocks Industry with $1.32bn EV Loss!
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- Опубліковано 8 лип 2024
- Ford has made a surprising announcement about a potential comeback for smaller cars and their ambitious plan to introduce a sub-$30,000 electric vehicle (EV) by 2027. Ford’s CEO, Jim Farley, recently revealed this news at the Aspen Ideas Festival, emphasising a strategic shift from larger, less profitable EVs to more affordable, smaller models. This bold move comes in the wake of Ford’s staggering $1.32 billion loss in their EV unit during the first quarter of 2024. Could this signal a new era for the American automaker and the EV market?
’ll discuss the implications of Ford’s decision to focus on smaller EVs, especially given the historical challenges and profitability issues associated with compact cars. Farley’s comments about the necessity of making smaller, affordable EVs to remain competitive against global giants like Chinese automakers highlight the shifting dynamics in the automotive industry. We’ll also look at the development process of this new EV by Ford’s Skunk Works team and what it means for consumers and the market.
Join us as we dissect Ford’s strategy, the potential impact on the automotive industry, and what this means for the future of EV adoption in America. Whether you’re an automotive enthusiast, a potential EV buyer, or just curious about the latest industry trends, this video offers valuable insights into Ford’s electrifying plans. Don’t forget to like, comment, and subscribe for more updates and in-depth analyses on the ever-evolving car industry!
If you find this video helpful, don’t forget to like, subscribe, and share it with others who might benefit. Stay tuned for more insightful reviews and updates on the latest in automotive technology and trends.
Source - www.cnbc.com/2024/06/28/ford-...
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Ford should bring back simple, uncomplicated cars devoid of unnecessary extras which add weight, and make their cars reliable.
Crikey : they'd make a fortune
need to get rid of the over regulation happening in huge markets like the EU to get simply and dependable cars back
@@BauregardSenior87
True. It's EU regulations requiring to mount expensive equipment is very basic cars effectively killed A and B class cars.
Well said my thoughts exactly 😊
Absolutely spot on Geoff! Fords most profitable years in Europe was the early 70's they made fantastic looking bare bones cars at affordable prices Mk1 Capri- Mk1 Escort - Mk3 Cortina all share the same parts that kept costs down and were easier to stock kept it simple were easy to service were rust buckets like most mass produced cars of the era, Ford UK had 33% UK market share when the Cortina production ended, in 2024 it's dropped to just over 4% of UK market are Ford's these days with a massive range about 12 different models.
Still an EV that no one wants
Crazy,ceasing production of the best selling models,in the UK.
Mustang Mach E was originally going to be the next gen Ford Focus EV, Ford changed it during conception stage as Jim Farley said Ford could not justify asking £50,000+ for a Ford Focus EV, so used the iconic Mustang name, instead. Ford sold an Focus EV in Europe in 2016 sold only 70, and sold just 61 Focus EV's in 2017 in Europe, Ford sold just 24 Ford Focus EV's in the UK, Starmer wants 100% of new cars to be BEV's by 2030, sadly Ford won't be allowed to sell ICE cars here by Westminster Law.
Looks like Ford is learning to listen to consumers for a change. Large trucks doesn't cut it anymore.
Ford's internal combustion powered F-Series 150 pick-up truck is the most profitable vehicle on the planet every year, very much keeps Ford afloat in profits, Ford's F-Series Lighting EV electric pick up truck is losing $134.000 on every electric truck it sells not good if Biden wants Ford to sell on EV's by US law.
In Australia there are no cheap EVs including the Chinese built EVs there are over aud $50000
Ford are perhaps listening to the buying public now all we need now is for the government to listen. Judging by what I’ve just heard don’t seem to have.
Back in the '70s in California, people were happy with Japanese imports and at the end of that decade I was the happy owner of a mini-truck, the Mazda-made Ford Courier and it was an SUV in a sense in that mini-trucks were popular with motocross riders and the like, toss something sporty in the back and go have fun. And I can report now in 2024 that American drivers are filling the roads with the modern equivalent of long Cadillacs in the form of giant pick-up trucks like off-road trophy trucks. And for working people who need to haul a lot, great, good for them to have big trucks. But lots of those trucks are just giant slugs of no use to anyone but the egos of their owners. And yes, I say, please, Ford, bring back simple, small cars. I saw a convertible '65 Mustang for sale locally just yesterday. That would be a good start, original body, efficient engine, yes, the dream.
Too long.
General Motors are heavily in debt, Barra is very political they won't make through Chapter 11 the Chinese will probably end up buying them, Trump will probable get in, the US economy has been in a delayed recession since October it is being delayed re-timed to blow up in Trumps face by Wall Stree t& Media in 2025 it will be 10 times worst than 2008 recession, don't think Trump will bail out GM again this time though.
Im all in. just dont be putting turbos in everything.
Motors are much more reliable than engines, There are teslas with 400,000 miles with very little problems. I'll bet you can't say that about and ICE engine. When was the last time you saw anybody with that much mileage on there car, that didn't have to replace an engine, on there car.
Too late. Two years ago I went into my local Ford dealer to order what would have been my 4th consecutive Fiesta only to be told that Ford were not accepting any new orders, several months later it was announced that they were stopping production of their most popular European car. Instead I bought a Peugeot. After 50 years of car buying, mainly Fords starting with a Mk 2 Cortina, they have lost a customer
Ford need to get rid of the Ecoboost engine before they get sued in the UK.
They won't sell their cars if they are powered by their eco boost engines, what were their engineers thinking when they designed this engine. People generally don't want electric cars either. Ford need to shape up or get out of the business. Once a good reputation is now in tatters.
Ford Mo Co are already going bankrupt $145 billions in debt, once Trump gets in nothing against him, but Wall Street & media are going to crash the economy a bit late, they have been in recession in a bad State since last October, Ford will end up in Chapter 11 Ford might survive, can't see Barra's GM getting a bailout she has been too political they are also in massive debt, so are VW & Toyota goole the worlds most indebted companies 2023 or 2024 the Top 10 most indebted companies in the world are mostly automakers not banks.
Ford should take inspiration from the Dacia spring.
Like Dacia bare bones approach it's not gadget ridden less to wrong cheaper to run at a very affordable price, Ford use to be like this many decades ago, sadly lost their roots with Vigale Mondeo's Skoda eat sale from below without the pretentious and BMW eat the sales above ' who wanted a expensive bloated Mondeo with 1.0L eco boost when for a little bit more you could get a Audi, BMW or Mercedes badge so Mondeo sales crashed Ford forgot who they are, buyers got a better value for money Skoda or BMW if they had a bit more money.BMW 3 Series was massively out selling the bloated Mondeo.
If these manufacturers got together and decided on a common battery standard, costs would be reduced.
But just like battery tool manufacturers, ebike manufacturers etc etc they all go their own way, and this results in increased costs.
I hate SUV’s they truly are the worst thing that ever happened to car design basically it ruined it I wouldn’t be seen dead in one awful things so are the truck why would you have one everthing has become so boring.
Finally someone hates them as much as me.
I gather both of you (Kevin & Mark) are under 50yrs of age or are less than 5ft 10.
When you have turned 60 yrs old and are over 6ft, your body tells you that bending down & twisting in/out of a low car it does not like.
I occasionally get a lift in my daughter's mini - not an experience I look forward too - luckily only short journeys.
Anyway, to sum up, I like our SUV (VW Tiguan Allspace).....and if you both get to 60yrs old, you might appreciate them😊.
I don't hate SUVs but at 69 years old I no longer need one. I have had 2 Land Rover Defenders and 2 Dodge Caravans (aka Voyager) but my children have grown up, I no longer have large dogs, no longer tow trailers and caravans, and no longer have to carry bicycles and sports gear. So a small car is all I need
Yes they are all so generic anodyne boring punched out by the same sad CAD software l expect, Kuga as only fractional more in side than a Fiesta inside it just sits higher up and cost a fortune they are totally unpractical expensive to buy & run.
The consumer desperately needs a small, manual, naturally aspirated, 5 door, ICE, “dumb” car with absolutely no whistles or bells. Manually wind down windows, manually adjusted door mirrors, manually adjustable (not heated) seats, etc, etc. The dash should have an ignition light, an oil light and a speedometer and that’s it. That’s all I had in my first car (A35) and it worked perfectly well. Don’t get me wrong, I DO like all the tech stuff, but do we really need it in order to drive to work and to the shops once a week?
I currently drive a 63 plate Peugeot 308 which is about as “dumb” as you can get nowadays. Drive it properly and I can get up to 65mpg and ALWAYS over 55mpg even with “boy racer” driving. I have the money but I can’t see me swapping this for a new car where half the price is for stuff I don’t need.
There is a simple rule in business, 'stick to what you know'. Ford need to stick with the petrol/diesel engine, if US and Europe do not want it, Russia, Africa and Arabia will be happy to open factories and sell to the masses.
Sadly it's Governments that are making the rules and regs what car makers can and can't sell in their showrooms , Westminsters fining Ford £15.000 on excess ICE car sales & £9,000 on excess van sales at the moments , Labour's Starmer wan't 100% of all new cars to BEV's by 2030 in Ford's UK showrooms, Starmer will make it illegal against UK law TO sell new diesels or petrol cars sadly after 2030 in the UK.
I think that they are trying to reinvent the vw golf.
Ford Fiesta, Focus & Mondeo....top sellers thru Europe for how many decades....?
So, naturally....Ford discontinue them....duuuuuuh!
Ford's best market share when most of it range were all British made 33% in the last full year of the Cortina sales, today Ford UK have just 4% of UK market share very sad indeed looking at SMMT June UK car sales data.
Still never ever battery electic
I will wait for the real future in transport.
It's never battery electic
The secret for cars is that if you provide what people want you'll do well.
🤷 "That's no secret!"
To several car companies it seems to be though ...
This confusion has been mainly caused by central government's and world bureaucracies ( UN,EU ) with their ridiculous policies designed to destroy the ICE market and promote EVs . The amount of investment required to produce EVs is astounding so something has to give. Ford made the right decision to separate the two divisions ( EV and ICE) but balancing those two competing products must be a headache beyond belief , but the biggest problem and why things are so confused at the moment is that the artificial EV market created by all the interference of governments with subsidies that couldn't be maintained and have all come off at the same time the general public are seeing the disaster that EV ownership is for so many people both in economics and convenience.
Having previously worked for Ford I think there’s a very real possibility that they’ll disappear from the UK market in the not too distant future. Most of their new and future models are basically rebranded Volkswagens.
Ford built their empire on affordable, simple and economical cars for the masses. Problem was, smaller cars make smaller profits, so you need volume to make it pay and volume means making something with character and is different from the rest of the pack!
A modern Fiesta is a similar size to a Mk1 Mondeo.
The Mk VII Fiesta isn't as long as a Mk I Focus, let alone a Mk I Mondeo.
@@jinxvrs Cars are three dimensional.
@@NeilBarratt OK, a comparison (dimensions in inches):
Mondeo I - Wheelbase 106.5, Length 176.4, Width 68.8, Height 54.0
Fiesta VII - Wheelbase 98.1, Length 160.2, Width 68.3, Height 58.4
The Mondeo is a larger car, however, the Fiesta has grown massively over the years compared to the 1976 Mk I
@@jinxvrs Thanks for going to the trouble of finding all the dimensions.
In the 1990s we had a choice of driving a small car. Now we really don't. Even something like a modern I 10 is wide, tall, and heavy compared to something like an AX or Alto.
Ford threatens to retreat into North America? Apart from vans, they've largely done so already. Their UK market share for the first 6 months of 2024 is down below 6%, behind VW, BMW, Audi & Kia, and not far ahead of Nissan & Toyota. In Europe (up to May) it's now only 3.4%, behind even Dacia. Most of their European commercials are now co-developed with VW. Perhaps they should sell out to them?
It costs practically as much to make a small car as a big one, since the body is not the major cost component. However, people think small cars should be cheap, and when manufacturers omit some expensive gizmos to cut the prices people complain.
Also, were cars ever really cheap, except perhaps in America where the economic and social environment was unique?
It didn't help pushing the EcoBOOM on most models. Manufacturers can't make profit on base and smaller models, the additional extras pushes up the price.
Ford just need to make the Fiesta a little bit longer and taller and keep it fun to drive. Not more SUVs and it needs to be cheap. It needs a modular battery system, so bad cells can be swapped out.
Governments should advise not dictate what the market wants. Look at the failure of smart motorways, changes to the Highway Code, hs2. The people making these decisions should not be allowed anywhere near decision making.
Hybrid, hybrid, hybrid for sedan suvs and trucks, and diesel for small cars with specialty evs for the. Cties.
not a shock just economic reality and plain common sense
ford are just releasing the ford capri as an ev and a suv last time checked it was a coupe
This is all in the US so who cares.
They recall the wet belt failures in the us. And stick the middle finger up to the UK. And Brits still buy them.
Western car manufacturers need to regain a foot hold before the Chinese / Koreans do , said it for years , especially with Electric cars , small light with narrow tyres , but with the basic modern safety and comfort amenities to make a driver comfortable but aware , this makes more sense than some vulgar electric Bentley or range rover .
Anyone who buys EV's has been conned they are not worth a chew
You haven't driven one, if you can say that. You are being conned by ice companies and the petrol industry. Sucker!!
cars are too complicated too dear .bring back relaxed driving leave the computers in space ships
Good news. Too many SUVs & SUV lookalikes, the ugliest cars ever IMO.
(I'm enjoying your book, I'll write a review when I'm done reading it 👍)
Thank you!!
Ford used to build decent cheap cars from the Model T, Model A, Falcon, Pinto, Maverick, Fox body.
Years ago I would though they'll settle for hydrogen, well it was a VHS and Betamax moment and EVs won even though hydrogen is more superior as was Betamax. It would have been ideal for the transition from domestic house hold Gas to hydrogen too.
Don't see small EVs selling, not until the battery energy density improves, currently 300 mile range needs a big battery meaning a big car, charging info structure not ready yet for cars with just 100 mile range
How often do you drive 300 miles in one day?. Studies show only maybe twice a year. Most people that drive evs don't drain the battery dead in a day.
Ford need to go back to the beginning.B Y D have just signed a agreement with Turkey to build cars from there they have easy access to Europe. Ford need to look back at the Mk 1 escort still loved by many people all we have in the uk is the Citroën ami a electric Reliant Robin at best people don't need fancy gadgets they just need to get to work
Car like Reliant Kitten,would be great.
The uturn on EV"s is coming ,,our controller's will flip the narrative 180
If he wants smaller EVs - this won't solve the problem. A shop-basket size EV car-ette for 30k$? Well Chinese will do it for 1/3 the price. A gasoline Ford kei-car would be far better option.
Bull shit! I got an E-bike that will do 28 miles an hour and will go 40 miles on a charge. I have over 3000 miles on it. The only problem has been flat tires and brakes. No oil changes, no gas no insurance no property tax. Ford-- found on the road dead, had them, hate them, they run hot, and fall apart.
Ford has already had a go at selling small EV cars in Europe BCG it was a massive fail, Ford spent a fortune on a Ford Focus EV assembly line at its Saarlouis plant in Germany sold 70 Focus EV's in 2016, and 61 Focus EV's in 2017, just 24 Ford Focus electric cars (£28,500 after UK Government huge £5.000 subsidy) were sold in the UK BCG, has anybody told Jim Farley that? Ford should go back to making super lightweight bare bone gadget are classic cars like Capri Mk1, Mk3 Cortina & Mk1 Escort close to the originals as possible like Fiat done with 500 in 2007, but as an EV they would instantly kick Tesla into touch! Sadly that won't ever happen will be another load of hype like when the Focus EV will sadly be a massive sales flop repeat.
So pity. In my country at once the Fiesta and Focus were gone. 2 models you saw on every corner of the street. Now only stupid pickup trucs, and big SUV's which are totally not popular compare to the establishments like Toyota and Isuzu. Ford gambled wrong and getting now its reward that customers abandoned Ford in my country. And EV's are crap, so they gamble wrong again.
Let me tell you this development of ev is significantly cheaper than ice ask the chinese.
The problem with legacy car maker is they are trying to make ev in the same way as ice .this because there factories and production lines are set up this way. Instead of sat stop we need to invest in a new way of manufacturing stop producing in the traditional but they cannot because there people are set in the tradition manufacturing methods. So they are trying to package on to sub frames and bolt to body . Instead of adopting a skate board system and making cars differently.
2 and 1/2 years too late you’ve missed the boat . Ford should return to making small affordable cars.
I prefer a smaller car and I absolutely love my Fiesta. And the problem with electric cars is always going to be the battery: electric cars need to have massive batteries to get any kind of appreciable range- so they are going to be massive cars... it is unavoidable. A small electric car is by necessity going to have a fairly tiny battery, and that means a ridiculously limited range...
Do your research, the average trip is less than 20 miles a day. My brothers company car is a Chevy bolt no problems with the battery and he has over 80,000 miles on his car now. Don't buy into all the bull about evs, being a problem, the Chinese have bought millions of them. If you want to look like Cuba in few years just keep thinking gas.
@user-rr3gj4nf9o ahha! So according to your 'research' quoted, the average trip is less than 20 miles a day? Really, is that so? I can hit 80 miles a day, just on my work comute alone... so a smaller electric car with the pathetic 180 mile range or less really isn't going to work...
I guarantee this car will be a rebadged Chinese car. There is absolutely no way Ford have the know how or resources to design, build and volume produce a profitable EV car in those timelines. Expect another collaboration vehicle reskinned as a Ford.
Ford need to go back to making hot hatches, they need a modern XR2 and XR3. Get rid off all the silly crap we don't need and never use. The new Capri looks utter shyte. Ford need to go back to basics, sporty little cars that are fun to drive and turn heads. Nobody looks at a Ford in 2024.
ford should just rebadge a chinese ev,. they did it with mazdas
Not with U.S. and Europe's anti China tariffs.
And what if they ignite?
No one wants EV'S !!!!!!!!!!!!!!!!!!!
No EV is a good EV clearly they didn't learned a dam thing