""The last couple of months have been really clear to us," explained Ford CEO Jim Farley."
""The very high-end EVs - the $50,000, $70,000, $80,000 vehicles - they just weren't selling.""
""where the market is, not where people thought it was going to be, but where it is today.""
""for several months.""
The Vanguard S&P 500 ETF edged down 0.1% premarket after the Bureau of Labor Statistics released shutdown-delayed data showing October employment fell by 105,000 and November added 64,000, both beating forecasts. U.S. unemployment rose to 4.6%, the highest since September 2021, and underemployment reached 8.7%, the highest since August 2021, with the BLS warning that shutdown-related job effects may linger for several months. Ford canceled the F-150 Lightning, cited weak sales for high-end EVs, will pivot toward extended-range electric vehicles and hybrids, expects up to 50% hybrid/EV/EREV production by 2030, and will take a $19.5 billion restructuring charge.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]