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Ford Loses $1.3 Billion on Electric Vehicles in First Quarter of 2024

Posted on AllSides April 28th, 2024
From The Right

Ford Motor Company reported a whopping $132,000 loss on each electric vehicle (EV) sold during the first three months of 2024, amassing a $1.3 billion loss. The auto manufacturer’s electric vehicle unit revealed Thursday that they experienced a 20 percent decrease in sales volume and were forced to slash prices due to low consumer demand, CNN reported. The revenue for Ford’s EV car, the Model e, plunged by 84 percent to about $100 million, which the company blamed on EV price cuts across the auto industry. “That resulted in the...

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