WASHINGTON, Feb 6 (Bernama-dpa) -- US auto giant Ford on Wednesday posted an operating quarterly loss of nearly US$1.4 billion in its electric car business, reported German news agency dpa.
This was, however, a US$180 million improvement over a year earlier.
Ford chief executive officer Jim Farley hopes to turn things around with newly developed electric models. They should enter the market in the coming years, Farley told US broadcaster CNBC.
Thanks to strong sales of vehicles with combustion engines and commercial vehicles, Ford still managed a profit of US$1.8 billion in the fourth quarter of 2024. A year earlier, it had posted a loss of around US$500 million in the same quarter.
Ford shares fell by around 5 per cent at times in after-hours US trading. The group forecasts a decline in adjusted operating profit to between US$7 billion and US$8.5 billion for the current fiscal year, down from US$10.2 billion in 2024. Analysts had expected more.
-- BERNAMA-dpa
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