251
submitted 10 months ago by NightOwl@lemm.ee to c/worldnews@lemmy.ml
you are viewing a single comment's thread
view the rest of the comments
[-] Heratiki@lemmy.ml 1 points 10 months ago* (last edited 10 months ago)

Their net profits have fallen considerably since 2021 but that can be attributed to the chip shortage. I chose gross profit because you take the 40% increase for the 57,000 hourly ford employees making on average $19/hr and you’d end up reducing their gross profit by $900 million. That’s a large amount of money but in general would only be around 25% of their net profit (going off pre COVID numbers) annually. Those same workers would then be able to afford the vehicles they’re building day in and day out. As it stands $19 an hour is just $39,520 a year which means it’s not likely they can afford a new car that they themselves are building.

Edit: Looks like their heaviest expenditures lately were factory overhauls for redesigned F-150 pickups thus causing their net profit losses.

this post was submitted on 01 Oct 2023
251 points (94.7% liked)

World News

31849 readers
399 users here now

News from around the world!

Rules:

founded 4 years ago
MODERATORS