If Ford backs out of it, they will be terminated by the Cybertruck. GM is desperately pushing back politically via NHTSA attacks but it is much too late to stop. They will make an announce within the next 30 days. ""Our strategy is to make 8% margin irregardless of the price point, and we're going to allocate capital along those lines," Farley happens if Ford decides to license FSD from Tesla? Model e will look a lot more attractive to a lot more customers plus they save ton($) of R&D expenses. "Our strategy is to make 8% margin irregardless of the price point, and we're going to allocate capital along those lines," Farley Cunningham Out Mama Skeptic Sticking to margin targetįord ( F) Chief Financial Officer John Lawler said the company's guidance reflects "headwinds, which include continued global economic uncertainty and inflationary pressures, higher industry-wide customer incentives and continued EV pricing pressure, increased warranty costs, lower past service exchange and costs associated with union agreements."įarley assured investors that the company's strategy is not to build "compliant" vehicles that are "very affordable for acquisition cost but lose lots of money." During the earnings call, Elon Musk said the electric vehicle maker will cut prices again if economic conditions worsen. Earlier this month, Tesla ( TSLA) reported disappointing earnings with margins being squeezed by price cuts. The news comes amid a frenzy to dominate the EV market. "We expect the EV market to remain volatile until the winners and losers shake out," Farley said in an earnings call. The EV paradigm has shifted, according to Chief Executive Officer Jim Farley, with EV price premiums over internal combustion vehicles falling more than $3,000 in the second quarter and nearly $5,000 in the first half. Shares initially rallied after yesterday's close.įord ( F) estimated it will incur a loss of about $4.5B for the year on the Ford Model e, "reflecting the pricing environment, disciplined investments in new products and capacity, and other costs." Revenue for the period of $42.43B beat by $1.11B. Ford ( F) said Q2 Non-GAAP EPS was $0.72 beating the average analyst estimate by $0.18. The automaker now expects a 600,000 run rate for 2024, which was originally set to occur this year. Ford ( NYSE: F) fell 3.3% on Friday morning after saying it would push back its electric vehicle production.
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