Ford’s Latest Earnings Report Reveals Automaker Losing $65,000 for Each Electric Vehicle Sold

Published on April 26, 2024

Ford’s electric vehicle segment continued its losing streak in the first quarter of 2024, netting a loss of more than $1.3 billion while its gas cars reported a profit. Ford reports its earnings from three segments—Ford Model e, which covers the company’s electric vehicles (EVs); Ford Blue, which relates to the firm’s gas and hybrid vehicles; and Ford Pro, which deals with the commercial segment. On Wednesday, Ford revealed that its Model e segment registered $1.32 billion in losses for the first quarter of 2024. The other two segments reported profits, with Blue netting $905 million and Pro bringing in $3 billion. As such, Ford’s electric vehicle department was the only segment to report losses in first quarter 2024....

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