Ford is losing $200,000 on every EV it builds

AutoExec Summary
Ford remained profitable in the first quarter of 2024, but its electric vehicle (EV) division incurred heavy losses. The company reported a net income of US$1.3 billion, largely thanks to the success of its Ford Pro fleet division. However, its Model e EV division lost a hefty US$1.32 billion, with only 10,000 EVs sold. The F-150 Lightning electric pickup faced quality issues, and the Mustang Mach-E electric crossover had low sales in Australia.

Brands mentioned: Ford, Tesla, Kia, Hyundai, BMW, Volvo, Toyota, Mercedes-Benz, LDV, Peugeot, Renault.