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Ford Motor Company (NYSE:F) shares were steady in early Tuesday trading after the automaker confirmed plans to cut up to 1,000 jobs at its electric vehicle plant in Cologne, Germany.
The cuts come as demand for battery-powered models falls short of prior expectations. The company explained that departures would largely be handled through voluntary buyouts and separation agreements.
AP News reports that the move follows a broader restructuring unveiled in November 2024 that targeted 4,000 positions across Europe and the U.K., with nearly 2,900 of those roles in Germany.
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Ford said the Cologne assembly line, which builds the electric version of the Explorer SUV, will drop to a single daily shift starting in January 2026. Management noted that production levels will continue to be reviewed and adjusted depending on market demand.
In a statement, Ford acknowledged that consumer appetite for electric vehicles in Europe has not matched earlier industry projections.
While EV sales accounted for 15.6% of the region's market through July, an increase from 12.5% a year earlier, the pace of growth slowed after Germany scaled back its subsidy programs, the report adds.
The automaker sold 260,000 vehicles of all types in Europe in the first seven months of 2025, a modest 0.7% gain year over year.
Ford's market share held steady at 3.3%, according to data from the European Automobile Manufacturers' Association.
According to Benzinga Pro, F stock has gained over 8% in the past year. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:FTXR).
Price Action: F shares are trading lower by 0.09% to $11.67 premarket at last check Tuesday.
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