News
Ford Forecasts Lower Earnings and Rising EV Losses Amid Cost Challenges
Ford Motor Co. has issued a cautious earnings outlook for 2025, citing persistent cost challenges and continued losses in its electric vehicle (EV) division. The automaker expects full-year adjusted pretax income to range between $7 billion (€6.8 billion) and $8.5 billion (€8.2 billion), a decline from $10.2 billion (€9.8 billion) in 2024.
Ford attributed the weaker forecast to “headwinds related to market factors” as it struggles with high warranty expenses and sluggish cost-cutting efforts. In the third quarter of 2024, the company incurred a $1 billion (€960 million) accounting charge to write down assets from the cancellation of a planned three-row electric SUV.
EV Losses Weigh on Ford’s Finances
Ford’s electric vehicle division, Model e, posted a full-year loss of $5.08 billion (€4.9 billion) in 2024, with revenue plunging 35% to $3.9 billion (€3.8 billion). The company anticipates even greater losses in 2025, estimating a shortfall between $5 billion (€4.8 billion) and $5.5 billion (€5.3 billion).
Despite these setbacks, Ford highlighted $1.4 billion (€1.35 billion) in cost improvements within its EV segment while ramping up investments in new battery plants and future electric models.
Challenges Across Petrol and Hybrid Vehicle Units
Ford also painted a pessimistic outlook for its other divisions, including Ford Pro (commercial vehicles) and Ford Blue (petrol and hybrid vehicles).
- Ford Pro’s pretax profit is expected to drop to $7.5 billion–$8 billion (€7.3 billion–€7.7 billion), down from $9.02 billion (€8.9 billion) in 2024.
- Ford Blue’s pretax earnings are projected between $3.5 billion and $4 billion (€3.3 billion–€3.8 billion), down from $5.28 billion (€5.2 billion) this year.
Investor Reaction and Market Impact
Despite fourth-quarter financial results exceeding Wall Street estimates, Ford’s cautious outlook rattled investors. Shares of the automaker fell 5.1% in after-hours trading, following a 1.5% decline during regular trading.
As Ford navigates financial pressures and intensifies its EV strategy, analysts expect the company to focus on cutting costs, improving efficiency, and adapting to shifting market demands in the year ahead.
News
Investigation Underway After Goa Nightclub Fire Kills at Least 25
Authorities in the Indian state of Goa have opened an investigation into a nightclub fire that killed at least 25 people, including several tourists, in one of the region’s most popular party districts. Six others were injured in the blaze, which broke out shortly after midnight in Arpora, a nightlife hub about 25 kilometres from the state capital, Panaji.
Goa Chief Minister Pramod Sawant confirmed the death toll in a statement posted on X, saying the victims included many of the club’s kitchen staff and a small number of visiting tourists. He added that all the injured were in stable condition and receiving medical treatment. Rescue teams recovered all bodies from the site.
Early reports from local police, cited by the Press Trust of India, indicated that a gas cylinder explosion triggered the fire. Witnesses, however, told the agency that the blaze appeared to start on the club’s first floor, where nearly 100 tourists were dancing at the time. As smoke and flames swept through the building, many people ran toward the lower floor, where they became trapped along with staff members.
Sawant said a formal inquiry would determine the exact cause and whether the club complied with fire safety regulations. He pledged strict action against anyone found responsible, writing on X that any negligence uncovered by investigators would be “dealt with firmly”.
Eyewitnesses described scenes of panic as patrons attempted to flee the burning building. “We rushed out of the club only to see that the entire structure was up in flames,” said Fatima Shaikh, who was inside when the fire began.
Prime Minister Narendra Modi offered condolences in a message on X, calling the incident “deeply saddening” and wishing the injured a swift recovery.
Local media reported that the club’s location along the Arpora River backwaters posed challenges for emergency crews. A narrow approach road forced fire engines to park about 400 metres from the entrance, slowing their response. Reports also revealed that the building had previously received a demolition notice after officials found it lacked a construction permit. That order was later withdrawn by senior state authorities, according to Arpora councillor Roshan Redkar.
Incidents involving gas cylinders and electrical faults are not unusual in India and often lead to heavy casualties, prompting renewed calls for stronger enforcement of safety standards. Opposition leader Rahul Gandhi criticised the tragedy as a “criminal failure of safety and governance” and urged a transparent investigation to establish accountability and prevent future disasters.
The probe into the fire is expected to assess structural safety, emergency exits and compliance with existing regulations as authorities work to piece together how the late-night gathering turned into one of the deadliest incidents in the state in recent years.
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