CNN: Ford just reported a massive loss on every electric vehicle it sold – ‘Losses soared’ in first 3 months of 2024 ‘to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold’
Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.
Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion. The number of vehicles sold by Ford Pro was up 21% to 409,000.
On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.
By Marc Morano
April 27, 2024
3:26 pm
https://www.climatedepot.com/2024/04/27/cnn-ford-just-reported-a-massive-loss-on-every-electric-vehicle-it-sold-losses-soared-in-first-3-months-of-2024-to-1-3-billion-or-132000-for-each-of-the-10000-vehicles-it-sold/
