Ford lost $132,000 in Q1 2024 on every Electric Car it sold

Ford’s electric vehicle (EV) division, Model e, faced substantial financial challenges in the first quarter of 2023, reporting a significant loss of $1.3 billion. This translates to a concerning $132,000 loss for each of the 10,000 vehicles sold during this timeframe, signaling a considerable downturn compared to the previous year, during which sales were 20% higher. The decline in performance was mainly attributed to an alarming 84% decrease in revenue, totaling approximately $100 million, which Ford primarily attributes to widespread price cuts throughout the EV sector.

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