Ford U.S. Sales Rose 10.7% in May, Trucks up 31.6%, EV Down 13%

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    Ford Motor reported U.S. sales grew 10.7% Y/Y to 170,933 units in May, driven by strong demand for models Ford F-150 and E-Series. Truck sales were up
    [See the full post at: Ford U.S. Sales Rose 10.7% in May, Trucks up 31.6%, EV Down 13%]


    Ford Prepares New Round of Layoffs for U.S. Salaried Workers – WSJ

    Automaker looks to cut costs as it spends heavily on shift to EVs
    In August, #Ford laid off about 3,000 white-collar and contract employees.

    $F 14.19 +0.01 (+0.04%) After hours

    Ford Motor is preparing to initiate another round of layoffs in the coming weeks, according to people familiar with the matter, the latest in a broader effort by the automaker to streamline operations and reduce costs.

    The layoffs, expected to mostly include U.S. salaried workers, would be one of several that Ford has initiated in less than a year and could be announced as early as next week, some of the people said.

    The number of people Ford plans to lay off in this latest round couldn’t be learned. The cuts are expected to affect employees on Ford’s gas-engine side of the business, as well as its electric-vehicle and software division, the people said.

    A Ford spokesman said the company has nothing to announce.

    “As we have said, part of the ongoing management of our business includes aligning our global staffing to meet future business plans, as well as staying cost competitive as our industry evolves,” he added, in a statement.

    Ford Chief Executive Jim Farley has said the automaker has more work to do than its competitors to get costs in line as it spends billions of dollars to transition its lineup to electric vehicles.


    Ford $F $14.25-0.73 (-4.85%) after slashing prices on electric F-150:

    Updated F-150 Lightning prices:
    Pro MSRP to $49,995 from $59,974.
    XLT 312A Extended Range MSRP to $69,995 from $78,874.
    Platinum Extended Range MSRP to $91,995 from $98,074.

    “Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” noted Ford (F) Chief Customer Office Marin Gjaja. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning,” added Gjaja.

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