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Meanwhile, sales rose from $44 billion to $46 billion on an annual basis, as Ford announced after the U.S. stock market closed on Tuesday.
Operating losses in the electric car division increased to $1.57 billion. In comparison, an operating profit of $1.8 billion was achieved in the commercial vehicle business. Beyond that, Ford earned $813 million from combustion and hybrid vehicles.
Ford CFO John Lawler said on CNBC that Ford will tailor future investments in electric car production based on demand. He also believed that the future was electric drives. However, it will take longer to be accepted by a wider customer base.
Ford shares temporarily rose nearly six percent in after-hours trading. The figures were above analysts’ expectations
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
