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Ford Model e losing billions as it says EV unit should be seen as startup

DETROIT — Ford Motor Co.'s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology. The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called “Ford Model e,” will be profitable before taxes by late 2026 with an 8% pretax profit margin. But they wouldn't say exactly when it's expected to start making money. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. “As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share,” he said. Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van. The new corporate reporting system, Lawler said, is designed to give investors more transparency than the old system of reporting results by geographic regions. The automaker calculated earnings for each of the three units during the past two calendar years. Model e had pretax losses of $900 million in 2021 and $2.1 billion last year, and it is expected to lose $3 billion this year. In the past two years Ford has announced it would build four new battery factories and a new vehicle assembly plant as well as spending heavily to acquire raw materials to build electric vehicles. By the end of this year, the company based in Dearborn, Michigan, expects to be building electric vehicles at a rate of 600,000 per year, reaching a rate of 2 million per year by the end of 2026. Ford Blue, the unit that sells internal combustion and gas-electric hybrid vehicles, made just over $10 billion before taxes during the last two years. Ford Pro, the commercial vehicle unit, made $5.9 billion during those years, the company said. For this year, Ford expects Ford Blue to post a $7 billion pretax profit, modestly better than last year. Ford Pro is expected to earn $6 billion before taxes, nearly double its earnings last year, Lawler said. Ford was to present the new structure, announced last March, to analysts and investors on Thursday.

Consumer Reports criticizes small turbo engines for misleading performance, fuel economy claims [w/video]

Consumer Reports has taken aim at at small-displacement, forced-induction engines, saying the powerplants don't manage to deliver on automaker fuel economy claims. Manufacturers have long held that smaller, turbocharged engines pack all power of their larger displacement cousins with significantly better fuel economy, but the research organization says that despite scoring high EPA economy numbers, the engines are no better than conventional drivetrains in both categories. Jake Fisher, director of automotive testing for Consumer Reports, says the forced induction options "are often slower and less fuel efficient than larger four and six-cylinder engines."
Specifically, CR calls out the new Ford Fusion equipped with the automaker's Ecoboost 1.6-liter four-cylinder engine. The institute's researchers found the engine, which is a $795 option over the base 2.5-liter four-cylinder, fails to match competitors in acceleration and served up 25 miles per gallon in testing, putting the sedan dead last among other midsize options.
The Chevrolet Cruze, Hyundai Sonata Turbo and Ford Escape 2.0T all got dinged for the same troubles, though Consumer Reports has found the turbo 2.0-liter four-cylinder in the BMW 328i does deliver on its promises. You can check out the full press release below. You can also read the full study on the Consumer Reports site, or scroll down for a short video recap.

Trucks with the best gas mileage for 2024

There's no denying that pickup trucks are an integral part of our culture. They've been instrumental in building our infrastructure and giving the public access to remote locations and myriad recreation activities. Trucks aren't known for being particularly fuel efficient though, with boxy silhouettes and considerable weight negatively affecting their gas mileage ratings. The times are changing and not only are trucks getting more economical, but there are also several new smaller alternatives. An efficient tuck doesn't have to by tiny, though. Some of the trucks with the best gas mileage look classically bulky. What is the most fuel-efficient truck? So what's the most fuel-efficient pickup truck on sale in the U.S? It depends on which class of trucks you're looking at. For this list, we're focusing only on internal-combustion trucks. The small crop of all-electric trucks are certainly worth considering, but it's not so easy comparing EVs to ICE trucks here. In most cases, these trucks are the two-wheel-drive versions since they return the best mileage, but there are a few four- or all-wheel-drive models that we call out.  Not surprisingly, the revival of the compact pickup has altered the truck landscape. In many cases, these petite trucks may be just the right size for many shoppers. That's great because most owners would rather not lug around a ton of weight that they don't necessarily need. The simplest answer to the question posed above is the Ford Maverick Hybrid. It tops this list of fuel-efficient truckswith an impressive 37-mpg EPA estimate for combined city and highway miles. With only 191 horsepower and a continuously variable transmission, it's not as capable off-road or for towing as other trucks, but if you just need something to haul stuff around, you really can't do any better. Its 4.5-foot bed has a slight advantage over its only rival, the Hyundai Santa Cruz, which has a 4-foot bed and an estimate of 23 mpg. So now we know what truck uses the least amount of gas. 2024 Ford Maverick 2.5-liter hybrid powertrain 37 mpg combined (EPA estimate) What is the most fuel-efficient midsize truck? While not as popular as their full-size siblings, midsize strike a good balance of utility and drivability. They’re easier to navigate in a crowded parking lot, and fit down more trails earning a set of Arizona pinstripes.