Ford's Electric Vehicle Division Losses

Ford's EV division faced significant losses in the first quarter of 2024, with $1.3 billion lost and a further expected loss of $5 billion on the Model e by the end of the year. Sales plunged by 20%, revenue dropped by 84%, and research and development costs added to the losses. The company aims to make EV pricing cover production costs within the next 12 months.

Ford Motor Company's Electric Vehicle Losses in 2024

Ford Motor Company reported a $132,000 loss on each electric vehicle sold in the first three months of 2024, resulting in a $1.3 billion loss overall. The company saw a 20% decrease in sales volume and had to slash prices due to low consumer demand.

Ford's Cut in Hourly Workers Due to Slow Electric Vehicle Sales

Ford is cutting hourly workers at its factory due to slow sales of electric vehicles, with many consumers opting for hybrid vehicles instead. The article criticizes the company for prioritizing social justice over business decisions and highlights challenges with EV adoption among 'Normal People.'