Does anyone recall a couple years ago when Farley made a big deal about breaking up the company into Blue, Pro and Model e he said there would be five financial breakdowns, the other two being Credit and subscriptions. I can’t find that original article, but I note that subscription revenue is not its own line item.
Could this be because subscription revenues aren’t impressive?
If subscriptions are $800 a year as @kbu states, no wonder there are low numbers. That would be the first subscription I'd be canceling. 15
The value of our subscription revenue is so small, it’s too embarrassing to publish, especially since we’ve been claiming we are a data and subscription service provider. If we rely on subscription revenue to pay the bills, our checks will bounce.
When will there be accountability for the failures to deliver, especially “canopy.”
@2srv+1psFdzhm "I’m starting to miss Fields"
Yeap, I never expected I was going to miss him. After AM, Fields didn't look that good, but compared to what came after him... Man! He is looking fu--ing great!
Let's face it. It is not that the bar set up by "Hatchet and Fartley clowns incorporated" is just low. Actually, is in negative territory, 6 ft underground, and threatening to take the company with them. Even a monkey can do a better job than the bozo in charge.
"The bottom line," former Ford CEO Mark Fields told CNBC, "is EV demand is cooling as the early-adopter phase wanes off."
"You've got a challenge in the industry," he added.
Deutsche Bank's lead auto technology analyst, Emmanuel Rosner, noted a slowdown in EV adoption. He said the EV market is in the midst of a "meltdown" as earnest investors deal with new expectations from automakers, which are treading a bit more softly when it comes to EVs.
Fields agreed, saying this meltdown is particularly potent with "new companies that "have come on and are solely EVs at very high price points."
I’m starting to miss Fields.
I think Ford Model e falls into the new company space he refers to.
@1thf+1psFdzhm
The poster @1krx+1psFdzhm was actually hired away by Ford from being the little guy in the white suit on Fantasy Island running around shouting “The plan! The plan!”
@1krx+1psFdzhm "if you have paid attention to the Plan"
The "Plan"? The one with all those hundreds of thousands of EVs that got popped out
recently like a balloon in a needle factory? SMH. We paid attention to the "plan", but managers didn't pay attention to what engineers, employees and anyone with a usable brain told them about the plan. Here we are, a few years later and 50 billions shorter, when the C suite realized, oh my, that the plan, the EV dream, is now the nightmare leading the company to bankruptcy.
Finance person here.
ADT has about 6.5 million subscribers.
If the subscription “take rate” of about 5% bought a canopy subscription, the potential annual revenue is about $58 million. It cost us close to $10 billion over five years for Ford Next to come up with this.
Payback is over the next 1,000 years, deducted from our bonus calculation.
Probably just an oversight mistake. The software/subscription/services part of the Ford+ Plan will be the revenue leader for the company as has been discussed before. This is not new, if you have paid attention to the Plan.
Once lived a d-mb man like ford leadership who kept counting the eggs before they hatched!!!
The subscription forecast revenue numbers were based on selling 600,000 EVs this year and 2 million by 2024. Since that isn’t happening, neither are any of their revenue projections.
@jbq Ford claims 225,000 vehicles “equipped with blue cruise” at $800 annual subscription price. That would be $180 million. Somebody’s numbers are a bit off.
It's because subscription revenue is in the low 8 digits. And that's including revenue that's just money from marketing on free trials.
It appears our canopy security subscriptions are in trouble. On their earnings call last week, our supposed partner, ADT, covered selling off their commercial business, the poor performance of their solar business, and their partnership with GOOGLE NEST, which provides security cameras. No mention of any partnership with Ford canopy. Hmmm.