Posted on 02/06/2025 10:44:38 AM PST by ChicagoConservative27
Ford Motor Company has reported a $5.1 billion loss in its electric vehicle and software business for 2024, with expectations of losing even more in 2025.
The Verge reports that on Wednesday, Ford Motor Company announced its fourth quarter and full-year earnings for 2024, surpassing Wall Street expectations. However, the automaker also reported substantial losses in its electric vehicle (EV) and software division, known as Model e. The company lost $5.1 billion in this segment in 2024, a significant increase from the $4.7 billion lost in the previous year. Furthermore, Ford predicts that losses will continue to mount, potentially reaching $5.5 billion in 2025.
Despite these setbacks in the EV business, Ford’s traditional gas-powered vehicles continue to perform well, generating sufficient revenue to keep the company profitable overall. The automaker reported a full-year net income of $5.9 billion and an adjusted earnings of $10.2 billion. However, Ford cautioned that its earnings may drop by $2 billion or more in 2025 due to the costs associated with new vehicle launches and declining car prices.
(Excerpt) Read more at breitbart.com ...
And the tax credits were funded by taxpayers, so taxpayers got hosed in this as well.
Hey, Ford. I told you so.
And if you were just trusting Uncle Joe Biden to back you up then you actually don’t deserve our respect.
Hard for me to say that as a lifelong Michigan resident and supporter of American cars.
Which directly and indirectly effects the prices of non-EV vehicles and the prices of used vehicles as well . . .
Why do you think they have so many over-optionioned $80k pickup trucks? They take up the slack on the EV’s.
I guess they didn’t learn from Saturn’s EV debacle in the California automobile “market.”
If American car manufacturers wanted to do something more practical they could have designed great hybrids in which you could select driving mode (ICE vs electric) and that were also fun to drive.
They wouldn’t listen to consumers and tried to force that crap on us. WE WERENT BUYING IT.
Pretty sure pure EV production will soon drop to dozens / year, maybe they will be a special order only item.
EVs are a bad idea.
Bad ideas normally sell at lower prices, in order to get people to buy them. Yet, EVs normally come with bigger sticker prices. Go figure. People are not suckers, except if they’re liberals.
My MIL lives near the Ford battery plant that is under construction in Glendale, KY. So I have driven by it several times a year for the last 2+ years it has been under construction, and it is still not finished.
The capital investment on this thing is MASSIVE! No wonder they’re losing money.
They bet big on Dems remaining in power, and EVs being forced on all the great unwashed. Which would include me.
Bad bet.
Ford would have made about 12 billion if no electric vehicles. Massive number!
Well, we certainly have his measure now. We know exactly which side he is on.
And anyone who willingly buys a Mustang "Mach-E" should surrender their man-card. That is one of the most offensive and stupidest cars Ford has ever built. I would take a 1974 Mustang over that thing. Or a 1972 Pinto.
No wonder cars are so high. They must be making money hand over fist to be able to absorb that kind of loss!
one of my coworkers bought one of the Mach-E and he really likes it.
but he has a weird eastern european accent and his former car was a bmw i3 with Biden stickers on it
like solar it was a scam where the tax payers subsidized the car companies
Oversized electric golf cart boys hit hardest
Where is the Ford Board of Idiots?
Well Hell...
It shouldn't be too hard for some enterprising aftermarket builder to buy them up at a super discounted price and convert them to useful and desirable hybrids.
They could then sell the batteries and other removed components at a reduced price to the morons who actually bought the Ford EVs.
Good grief. Can we stop with the EV fantasy? I have no problem if they are on the market and available, particularly if they are competitive with ICE engine cars in certain areas. But the effort to impose them is outrageous. Automakers need to push back and stop being such freaking cowards.
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