Ford is prepared to restrict the sales of petrol cars in the UK to meet electric vehicle (EV) targets, according to statements from the company's EU boss, Martin Sander. This move is seen as an alternative to selling EVs at a loss and is likely to lead to an increase in petrol car prices. The strategy is a response to comply with net zero emission regulations and the lackluster demand for EVs among UK consumers. In a related development, UK car dealers have significantly reduced their sales forecasts for electric cars this year, as private motorists continue to avoid the zero-emission vehicle market.
BMW says costs, low used car prices to weigh on 2024 pre-tax profit https://t.co/5iBpVCaWZw https://t.co/tFkzDdEhIC
🇬🇧 UK motor trade slashes sales forecasts for electric cars https://t.co/18EyHK0rMJ
BMW's earnings declined in the first quarter after rising manufacturing costs weighed on the luxury-car maker’s profitability https://t.co/jvMZ9qmIMo
BMW Earnings Decline On Higher Auto Manufacturing Costs - BBG https://t.co/qSP9cLncyM
BMW's earnings declined in the first quarter after rising manufacturing costs weighed on the luxury-car maker’s profitability https://t.co/t0uxxpvFFD
BMW Q1 24 Earnings: - Backs FY Guidance - EBIT: EUR4.05B (exp EUR3.96B) - Revenue: EUR36.61B (exp EUR36.82B) - Automotive Revenue: EUR30.94B (exp EUR31.01B) - Still Sees FY Automotive EBIT Margin 8% To 10% (exp 9.01%)
⚠️ BMW'S Q1 AUTOMOTIVE MARGIN FALLS AS HIGH COSTS PERSIST Full Story → https://t.co/ECGL5k0vRP BMW on Wednesday reported a lower first-quarter profit margin in its automotive segment as persistently higher costs continued to weigh and demand for luxury cars in China remained…
🇬🇧 Ford warns net zero targets will push up petrol car prices https://t.co/jB9xqkq7zw
UK car dealers slash prices to sell enough EVs to make net zero targets: The UK motor trade has sharply cut its forecast sales of electric cars this year as private motorists continue to shun the zero-emission vehicle market. https://t.co/Rjlh640naB https://t.co/caOe9kZZfB
Gas car prices to increase in the UK because consumers don't want EVs: In order to comply with the net zero rules, Ford may have to simply sell fewer petrol cars in the UK so that the proportion of electric vehicles (EVs) it sells rises artificially. https://t.co/IIdLgHVFdD https://t.co/8mNQzPxbaW
Ford ready to restrict UK sales of petrol models to hit EV targets https://t.co/xlKQzYTgtT
🚨NEW: Ford is prepared to restrict UK sales of petrol cars to hit EV targets, EU boss Martin Sander tells #FTCar🚨 🔋"Only alternative" to selling EVs at loss is to cut petrol sales. 🔋Move will likely see petrol car prices rise. First details: https://t.co/CQbHSb1mv9 https://t.co/ijKV0ANTfF
$F | Ford Prepared To Restrict UK Sales Of Petrol Cars To Hit EV Targets - @FT https://t.co/DDqn9bHYNy
FORD PREPARED TO RESTRICT UK SALES OF PETROL CARS TO HIT EV TARGETS- FT