Reuters reported that Ford Motor Co said it expected its electric vehicle business unit to lose $3 billion this year.
On a better note, the company did say though that it remained on track to achieve a pre-tax margin of 8% by late 2026.
The projected loss was revealed ahead of a briefing for investors and analysts on 23 March to discuss details of the automaker’s new financial reporting format.
Starting with first-quarter results, which will be announced on 2 May, Ford will begin reporting by business unit for Model e (electric vehicles), Blue (combustion vehicles) and Pro (commercial vehicles and services).
Ford projects Model e’s cumulative three-year loss from 2021-2023 at $6 billion, including a pro-forma loss last year of $2.1 billion, but expected the unit to be profitable on a pre-tax basis before the end of 2026.
Chief Financial Officer John Lawler said Ford would no longer break out financial results by region, only by business unit, because “that’s how we’re running the company now”.
He said Ford would provide quarterly and annual sales and market share for the company’s top five global markets but would no longer report by region.
Last year, Ford had a pre-tax loss of $600 million in China, broke even in Europe and posted a modest $400 million profit in South America, with most of its earnings before interest and taxes - $9.2 billion - coming from North America.
The company expected its Ford Pro commercial vehicle business to nearly double pre-tax profit this year to $6 billion, while the traditional Ford Blue business should see a modest increase to $7 billion.
Lawler reaffirmed the company’s target of a 10% adjusted EBIT margin by late 2026.
He said the automaker would have the global capacity to build 600,000 electric vehicles by the end of 2023 and 2 million by late 2026 - “and we intend to fully use that capacity”.
Dunlop Tyres South Africa has completed a R1.7 billion investment programme at its uMnambithi (Ladysmith) manufacturing facility, introducing new manufacturing technology and expanding production capabilities at the plant.
Mahindra & Mahindra has unveiled the Scorpio Lifestyler, a midsize lifestyle bakkie derived from the Global Pik Up concept first shown in Cape Town in 2023.
The South African automotive industry has gained some breathing space following the latest move by the United States Senate to extend the African Growth and Opportunity Act, or AGOA, to the end of 2028.
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You can't buy happiness but you can buy cars and that's kind of the same thing.
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Electric vehicles (EVs) have introduced a whole new vocabulary into motoring. Instead of simply talking about litres of fuel, cylinders and kilometres per tank, motorists are now confronted with kW, kWh, AC, DC, WLTP, regenerative braking and a host of other terms.
Zero Carbon Charge (CHARGE), which is building a national network of off grid, ultra-fast EV charging stations powered by renewable energy, has welcomed the latest new energy vehicle (NEV) sales figures, saying they confirm a trend it has tracked for several years.
South Africa's transition towards electrified mobility continued to gain momentum during June 2026, with 3 045 new energy vehicles (NEVs) sold, representing a 104.2% increase compared to the 1 491 units recorded during the corresponding period in 2025.
