“There's no change to our segment outlook, which anticipates continued strength in Ford Pro, leading to EBIT of $8 billion to $9 billion, and that's driven by the continued growth and favorable mix, partially offset by moderated pricing.”

In context

“f 50% to 60%. We're tightening our CapEx range to $8 billion to $9 billion as the team adjusts to the dynamic EV landscape. We're scrutinizing every dollar and driving efficiencies that we believe could land us at the lower end of this revised CapEx range. Our outlook for 2024 assumes a flat to slightly higher SAAR in both the US and Europe. Our planning assumption is for the US is 16 million to 16.5 million units. Full year of customer demand for all-new Super Duty contributing to better market factors for Ford Pro. Industry supply demand normalizing. From a planning perspective, we're assuming lower industry pricing of roughly 2%, driven by higher incentive spending as we move through the year. We expect this to be partially offset by top line growth from the launch of our new products. There's no change to our segment outlook, which anticipates continued strength in Ford Pro, leading to EBIT of $8 billion to $9 billion, and that's driven by the continued growth and favorable mix, partially offset by moderated pricing. As expected, a loss in the range of [$5 billion to $5 billion] (ph) for Model e, driven by continued pricing pressure and investments in new vehicles, and for Ford Blue, EBIT of $7 billion to $7.5 billion, reflecting a balanced market equation and also cost efficiencies offsetting higher labor and product costs. And we expect Ford Credit's EBT to be about $1.5 billion, up slightly year-over-year. Our performance this quarter continues to demonstrate the positive momentum of Ford+. Capital discipline is driving the right global footprint, portfolio of products and consistent cash generation. We continue to see growth opportunities and remain focused on delivering improvements in both quality and cost. So that wraps up our prepared remarks, and we'll use the balance of the time to address w”