https://media.ford.com/content/fordmedia/fna/us/en/news/2023/04/04/ford-becomes-americas-best-selling-brand-in-the-first-quarter-on.html
This is good news for Ford.
12 replies (most recent on top)
“excel at selling gas and hybrid”
https://www.motorbiscuit.com/engine-failure-lawsuit-ford-maverick-escape/
https://fordauthority.com/2023/12/ford-f-150-hybrid-powerboost-among-crs-least-reliable-cars/amp/
Ford is a massively profitable goliath. The company is not at risk for any reason.
EV sales are slower than anticipated - so Ford will excel at selling gas and hybrid models while continuing to improve our electrified powertrain offerings.
So, did someone cooked the book to show a better Q1 report?
Well, there was good news (overall, vehicle sales overall increased), but mostly bad news in the real 2024 Q1 sales report vs 2023:
- we sold over 3,000 fewer F150s, our main profit generator.
- we sold almost 3,000 more EVs, on which we lose over $20,000 each.
- we sold zero data and subscriptions, as there is no line item for that
Q1 earnings will be interesting. I’d like to hear Farley explain the lack of information on data and subscription sales.
It'll be interesting what profit looks like selling all these EVs at massive losses.
@zmw, no it doesn’t. Vehicles on storage lots are considered inventory, not sold. This has been explained before.
Ford consider's a manufactured vehicle to be a "sold" vehicle. This is great news as there are "sold" vehicles sitting in huge parking lots, race track in-fields, and anywhere else they can be stacked up just waiting to be delivered.
Good catch. And Q1 2023 was being compared to a chip shortage Q1 2022. So even then it wasn't great.
I expect Q1 2024 to su-k.
FYI geniuses - the article posted is from Q1 2023, 1 year ago.
They forgot to include the dollar value of the alleged Blue Cruise “subscriptions” and also failed to disclose the value of Canopy Security subscriptions. An oversight? As a “data and subscription” provider, one would think these numbers would be highlighted.
Hmmm. Somebody is making up numbers.
From Ford Media, 2023 q1 sales were 475,906 vehicles.
If 2024 Q1 was 456,972, that is 19,000 fewer vehicles sold than in 2023.
GM sold 594,233 vehicles in Q1.
Ford sold 456,972.
GM sold 138,000 more vehicles than Ford.