Ford results far better than expected

Ford sold significantly more cars in the third quarter. Pick-up trucks and SUVs in particular were in great demand. The automaker thus recovered strongly from the previously incurred corona damage in the first half of the year. In Europe, the brand has to deal with some more setbacks.

Ford’s results were far better than expected. The company saw sales reach $ 37.5 billion. That was well over the $ 34 billion that was generally taken into account in the market. In addition, Ford managed to sell cars on average 8 percent more expensive than a year earlier. Earnings were therefore significantly higher than anticipated at $ 3.6 billion. It even doubled on an annual basis. In particular, the new F-150 pick-up is selling particularly well. Just like peers in the industry, Ford also benefited from the strongly improving car market in the US.

In Europe, Ford has implemented a reorganization that has saved € 852 million since 2018. Here too, SUVs are important to the brand, as they account for more than 30 percent of total sales. This is an increase of 9 percent compared to last year. According to Ford, the European arm would have been profitable had it not been hit with a number of setbacks. The problems with the Kuga Plug-in Hybrid have prevented Ford from achieving its CO2 target. As a result, Ford has to look for a collaboration in a CO2 pool, which also costs money.

Ford has recently been led by Jim Farley. He took over from Jim Hackett on 1 October. In addition to success with the F-150, Farley also counts on success with the electric Mustang Mach-E and the polished Bronco SUV.

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