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Core News Facts
Ford’s commercial business, Ford Pro, generated $5.6 billion in EBIT with a margin of 10.9% in Q3 2023. In contrast, Ford Blue’s traditional gasoline and hybrid retail business produced $2.3 billion in EBIT at a 3.1% margin, while the Model-e division lost $3.6 billion. Ford Pro’s paid software subscriptions increased by 8% to 818,000.
Stellantis, which currently holds about 12% of the U.S. commercial fleet market, experienced a 22% surge in U.S. fleet sales in Q3 2023. The automaker has captured 30% of the commercial market in Europe and is looking to replicate this success in the U.S. with a focus on higher-margin government and commercial sales.
As Ford continues to optimize its commercial business, Stellantis faces challenges in expanding its market share in the U.S., despite early success overseas.
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