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Ford Motor Co. has decided to allow all 2,800 of its U.S. dealers to sell electric vehicles (EVs) starting July 1, reversing its previous selective allocation system. This move aims to boost sales of its EV lineup, which has been slower than expected. The company also canceled its Model e dealership program and set EV pricing model. This decision comes after significant pushback from dealers and amid financial challenges, including losses exceeding $1 billion per quarter over the past year and a negative impact on free cash flow. Ford plans to enhance dealer training and install more charging stations by 2025. The company has also scrapped the requirement for dealers to invest $1.2 million to qualify to sell EVs, following an 88% surge in EV sales.
$F | Ford To Allow All US Dealers To Sell Electric Vehicles, Scraps Model E Program With an 88% surge in EV sales, Ford gears up to install more charging stations and enhance dealer training by 2025 2/2
Ford had to do something. 1) They were losing >$1 billion per quarter for the last 12 months on their EV business (chart 1). 2) This had a severely negative effect on Ford's free cash flow which was already very low in Q4 2023 but turned negative in Q1 2024 (chart 2). 3)… https://t.co/RvgUGvOOHk
#FordMotor scraps plan requiring dealers to invest $1.2 million to qualify to sell EVs after growth slowdown.
Been so interesting to follow the twists and turns in this story for the last two years. Ford has been one of the boldest and strictest with its EV selling rules for dealers. Today, the company walked back those rules amid slower-than-expected EV sales. https://t.co/mKw4zI5dra
Ford walks back EV dealer restrictions to boost sales https://t.co/fqqAuxmQaA https://t.co/zNBt8dL1dc
🔵 FORD WALKS BACK EV DEALER RESTRICTIONS TO BOOST SALES Ford Motor Co will soon allow all of its dealers to sell electric vehicles, reversing its more selective allocation system in an effort to boost slower-than-expected sales. Full Story via Reuters on PiQ Suite - Link in… https://t.co/UXre51sWJd
Ford Motor is making electric vehicles more widely available across the U.S. by expanding sales and service to all 2,800 of its dealerships in the country https://t.co/z5i6E7FWEY https://t.co/z5i6E7FWEY
Ford slims down dealership EV requirements after pushback https://t.co/zB3l4ztNkr
Ford is allowing entire dealer network to sell EVs starting July 1 in a bid to better serve customers. https://t.co/Yxvmg23LQP
Ford will sell its lineup of electric vehicles through all 2,800 of its US dealers in a bid to boost sales of battery-powered models now being shunned by mainstream buyers. https://t.co/rNFcW64hyL
Wow a major setback for set EV pricing and a situation created by a bunch of complicated factors between @Ford and its dealers. What happens next? https://t.co/8RIfbp8x0N
Ford cancels Model e dealership program and set EV pricing model. https://t.co/ln45FoKXgu via @InsideEVs
Ford enables all dealers to sell EVs, bringing +90% of Americans within reach https://t.co/8Wfz4wkfkd by @EVPeteJohnson
Ford poaches ex-Tesla, Rivian, and Apple talent to develop affordable EVs https://t.co/fhM8zDtttE by @EVPeteJohnson