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...Ford is prepared to restrict the sale of petrol models in the UK in order to hit the country’s stretching electric vehicle targets, a move that will probably push up prices for consumers, its European boss...
...Ford’s Sander also told the conference that the speed of shifting to electric vehicles in Europe was “down to the consumer” and that the company was prepared to continue selling hybrid models into the next...
...Both Ford Blue and Ford Pro, which sell all or mostly vehicles with traditional engines, reported operating profits. But the company’s EV business reported a $1.3bn loss before interest and taxes....
...Tapping the resurgent demand for hybrids was a priority, executives from General Motors, Nissan, Hyundai, Volkswagen and Ford told the Financial Times’ Future of the Car Summit this week....
...Ford sales rose nearly 11 per cent in February compared with a year earlier, driven by sales of sport utility vehicles and hybrids. The company sold about 174,000 cars, trucks and SUVs last month....
...Its $46bn in revenue bested forecasts for $40bn, with 11 per cent growth in its line of vehicles aimed at commercial customers....
...The Michigan carmaker wants to bring the vehicle’s production in line with customer demand, it said on Friday. “Ford expects continued growth in global EV sales in 2024, though less than anticipated.”...
...The concession is particularly beneficial to Toyota, which has two UK plants, as well as Ford, which also has significant UK operations....
...“We see a bright future for electric vehicles for specific consumers,” said Ford chief executive Jim Farley....
...Tesla’s enterprise value remains many times the size of carmakers such as Ford. Investors seem keen to give Musk the benefit of the doubt....
...Companies including Ford have delayed expansions of their range of EVs, hedging their bets with hybrid models....
...He added: “We see the big three [Ford, GM, Stellantis] backing off on big EV investments and going into hybrids.”...
...Like Ford — who amassed an empire of iron and coal mines and steel foundries to control his supply chain — Wang is “democratising” electric vehicles and the batteries they rely on via a vertically integrated...
...fewer vehicle wholesales than expected....
...Ford will cut output of the electric version of its popular F-150 pick-up....
...This was the route Tesla took, followed by Ford in North America and, more modestly, Hyundai and Kia in the UK....
...Ford’s sales rose almost 8 per cent in the third quarter, compared to a year earlier, with the impact of the recent strike yet to appear in results.The Dearborn, Michigan-based carmaker sold about 501,000...
...Rivals Ford, BMW and Volkswagen do not come close to that eye-watering multiple....
...Moreover, GM and Ford have been concentrating on making bigger and higher-priced electric SUVs and pick-up trucks, but sales for those have been relatively sluggish....
...Ford is scaling back investment in its electric vehicle battery plant in Michigan as US car manufacturers reassess their EV plans in response to slowing consumer take-up of those vehicles....
...The second-hand value of the top-10 selling battery cars in the US, including models from Tesla, General Motors and Ford, fell an average of 28 per cent in 2023, data from CarGurus and compiled by HSBC show...
...Last March, China’s President Xi Jinping stated he had mixed feelings about his country’s rapid expansion in electric vehicle batteries. That raised questions about profitability for the industry....
...Known as “Project Titan”, Apple’s electric vehicle project was an example of its attempts to diversify beyond its hit product, the iPhone, which still makes up about half of its global sales....
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