Ford to drop up to 1,000 jobs at German plant as demand for electric cars in Europe lags forecasts

Group 1 - Ford Motor Co. plans to cut up to 1,000 jobs at its electric auto plant in Cologne, Germany, due to lower than expected demand for battery-powered cars [1] - The job reductions will primarily be achieved through voluntary departures and buyouts, following a previously announced restructuring that will reduce Ford's workforce by 4,000 positions in Europe and the UK, with 2,900 jobs lost in Germany [1][2] - The Cologne plant, which produces an electric version of the Explorer SUV, will shift to one production shift per day starting in January [2] Group 2 - Demand for electric vehicles in Europe is significantly below industry forecasts, with electric vehicles capturing 15.6% of the European market in the year through July, up from 12.5% in the same period last year [3] - The slower growth in electric vehicle sales is partly attributed to the withdrawal of purchase subsidies in Germany [3] - Ford sold 260,000 vehicles of all types in the first seven months of the year, reflecting a 0.7% increase, while maintaining a market share of 3.3% [3]