The average transaction price for an electric vehicle in June was down 20% year over year. Ford has said they're going to lose $3 billion this year on their EV unit, but they've set a goal to get an 8% e-bit margin by the end of 2026 during that same time horizon. They plan to increase EV production 15 fold to 2 million vehicles a year.
Bloomberg News Auto Reporter Keith Naughton and Garrett Nelson, Senior Equity Research Analyst at CFRA, talk about Ford cutting prices on its electric F-150 pickup truck in an effort to compete with Tesla and GM. Julia White, Chief Marketing and Solutions Officer at SAP, discusses cloud transformation and the impact of AI. And we Drive to the Close with Sue Crotty, Chief Investment Officer at Segal Marco Advisors.
Hosts: Carol Massar and Matt Miller. Producer: Paul Brennan.
See omnystudio.com/listener for privacy information.