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”.
ZF Aftermarket has named Maic Dressen as Managing Director of ZF Services South Africa (Pty) Ltd and Sub-regional Head for Sub-Saharan Africa and the DomTom regions. He will lead the company’s South African operations and support its growth across the continent.
Volkswagen has marked 75 years of vehicle production and sales in South Africa with a gala event in Kariega attended by President Cyril Ramaphosa, while also revealing the new Volkswagen Tengo, the third model to be built at the local plant. The Tengo will be produced for the South African and wider markets.
BAIC South Africa used the Festival of Motoring 2026 at Kyalami Grand Prix Circuit to highlight both its established range and new energy vehicle ambitions. The event marked the first public appearance of ARCFOX in South Africa, alongside the unveiling of BAIC’s X55 Plug‑in Hybrid Electric Vehicle.
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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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BAIC South Africa used the Festival of Motoring 2026 at Kyalami Grand Prix Circuit to highlight both its established range and new energy vehicle ambitions. The event marked the first public appearance of ARCFOX in South Africa, alongside the unveiling of BAIC’s X55 Plug‑in Hybrid Electric Vehicle.
When Volvo introduced the XC40 Recharge Pure Electric to South Africa in late 2021, the timing raised eyebrows. The country was enduring a severe power crisis, with loadshedding recorded on 200 days that year.
Three months after launching its off-grid, solar-powered electric vehicle (EV) charging network on the N3 corridor, Zero Carbon Charge (CHARGE) has confirmed plans to double charging capacity at both Charge hubs.
