“Our products are brand new in Europe. So that's a good thing, and that'll help us next year.”

In context

“your question. Good news is we're starting to scale the EV business in Europe and those vehicles are contribution margin positive, and they're becoming a bigger mix of our business. We are definitely getting traction from our cost-down efforts on our first cycle of products, and we're really focused on Mustang Mach-E. We've made a lot of progress, and we have a lot more to make. So, I think this is one of the benefits of having the segmentation broken out, and no doubt about it. I think we tried to highlight in our prepared comments the growing risk for everyone on pricing, and no OEM is immune to that. And as I said, we're seeing some of our competitors have enormous lease mixes like 70%-plus. So, that will play out, especially in Europe, as you said, there's a lot of pressure in Europe. Our products are brand new in Europe. So that's a good thing, and that'll help us next year. Anything else, John? John Lawler: No, I just think that we're going to continue to focus on cost improvements in the current generation and the future generation, and that's -- have being in the marketplace as long as we have, that's really helped frame up the mandate we have for the California team around cost to be competitive. And what it's all going to hinge on is, as you said, Jim, that top-line pricing pressure. Jim Farley: Yes. And to be specific on the cost, we really expect next year and the following years, a lot of progress in the production tax credit for our first-gen products. That's really one of the key levers for us as we've been able to pretty quietly restructure our sourcing of our batteries, where they come from, who makes them to really maximize the PTC. And that will”