No one expected the road to what automakers call “new mobility” to be paved with instant riches.
In its first-quarter earnings, Ford Motor reported it lost $102 million during the period on its Smart Mobility segment. During a January presentation to analysts the company said that segment lost about $300 million for all of 2017.
This comes as Ford is exiting such unprofitable businesses as small and midsize car production in North America, and re-evaluating whether it should remain in South America or Europe.
Ford deserves credit for the transparency about its sizable investments in self-driving cars, ride-sharing, shuttle services intelligent highways and multi-mode transportation. Rival General Motors Co. has been perceived as a leader in these areas without sharing the related impact on its bottom line.