“Our team is focused on delivering further cost reductions, optimizing the Gen-1 market equation, and driving capital efficiencies, helping to improve our profit look -- outlook as we head into 2025.”

In context

“vans. EBIT of $1.8 billion was up year-over-year with a healthy margin of 11.6%. Ford Pro continues to be our prototype for sticky high-margin, non-cyclical revenue, paid subscriptions, attach rate and monthly ARPU were up in the quarter. Pro's results continue to demonstrate the consistency and resiliency of this higher-margin growth business, underscored by their year-to-date EBIT margin performance of 14.6%, in line with our long-term target. Ford Model e generated a loss of $1.2 billion. We delivered $500 million of year-over-year cost improvement, which was offset by industry pricing pressures. Global wholesales were down 11%, reflecting our focus on yield management and balancing dealer inventory in North America, offset partially by the launch of the all-new Explorer EV in Europe. Our team is focused on delivering further cost reductions, optimizing the Gen-1 market equation, and driving capital efficiencies, helping to improve our profit look -- outlook as we head into 2025. Ford Blue revenue was up 3% in the quarter, while wholesales were down 2%, driven by discontinued low-margin ICE passenger vehicles. Although overall volume was down, North America volume was up 8%, driven by key nameplates like F-150 and Ranger. EBIT of $1.6 billion and margin of 6.2% were both down year-over-year due to adverse exchange and higher manufacturing costs, offset partially by lower warranty expense and higher net pricing. Hybrid sales up 30% in the quarter continue to shine and our global hybrid mix is still on pace to approach 9% by year-end, up over 2 points year-over-year with more products on the way. Ford Credit generated EBT of $544 million, up $186 million year-over-year, driven by an improvement in financing margin and higher receivables. Auction values declined 1%,”