Ford shares fall after sales of electric vehicles decline

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Ford’s electric vehicle sales


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suffered a slowdown in March, with deliveries falling to 1,995 vehicles, compared to 3,624 vehicles in February and 3,049 vehicles a year before. For the first quarter, Ford delivered 10,866 electric vehicles, a 40% increase compared to last year. Despite this, it appears that the decline in sales in recent months has opened the door for its rival General Motors, which delivered 20,670 electric vehicles and took the second place for electric vehicle sales in the United States after Tesla.

Ford delivered a total of 171,944 vehicles in March, up from last year’s March delivery figure of 159,328. The deliveries of the company’s F-series vehicles were about 60,381 units, an increase from 54,995 in February and from 44,906 in March last year. Ford’s plans are to produce electric vehicles at a rate of 600,000 units per year until the end of 2023. Which means the company needs to sell more than 300,000 vehicles this year, so the road is still long before it reaches its goal.

Ford’s worldwide electric vehicle sales totaled 100,000 vehicles, of which 62,000 vehicles were sold in the United States.

A month ago, the company announced that it plans to lay off approximately 3,800 employees in engineering and management positions in Europe in the next three years. Ford said that the increase in the prices of the goods they need in order to produce vehicles and the need to reduce the number of employees as the company produces a greater number of electric vehicles lead it to carry out these layoffs.

“Today there is less and less work that can be done on classic drive systems such as piston engines that use gasoline and diesel,” said the head of Ford’s electric vehicle production department, Martin Sander, “We are now entering a world where there are fewer global platforms with a lower need for engineering work.”

Ford also announced at the time that it would partner with a Chinese supplier on a new $3.5 billion electric vehicle (EV) battery plant in Michigan, despite tensions between the US and China.
The expected announcement of the deal between Ford and Contemporary Amperex Technology Co. (CATL), follows Virginia Gov. Glenn Youngkin’s defense that he is pulling the state out of a competitive process to attract the planned Ford plant to it because of its ties to the Chinese company.

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