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.
Key Points
- Ford reported a $132,000 loss on each EV sold in the first quarter of 2024.
- The company's EV unit experienced a 20% decrease in sales volume and had to cut prices due to low demand.
- Ford's Model e revenue plunged by 84% to $100 million, attributing the loss to industry-wide EV price cuts.