Ford Motor is preparing for an economic downturn, despite steady consumer demand for new vehicles, according to the automaker’s chief financial officer.
Even though Ford has seen record profits and strong demand for electric vehicles like the Mustang Mach-E, rising battery material costs and inflation are erasing any potential profits for the new car, said Ford CFO John Lawler on Wednesday at a conference hosted by Deutsche Bank and reported on by CNBC. This is despite a recent price hike of the Mach-E to offset the effects of inflation.
Lawler said increasing the price of the vehicle wa
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