Shock to the system: Ford’s profits could be up 50% if it cuts EVs from its lines

Earnings projections from Ford released Wednesday found that the company’s profits could soar by 50% if it stopped production of electric vehicles.

Ford is expected to have an adjusted operating profit of $11 billion in 2024 after analysts expected only $9.6 billion, according to the Wall Street Journal. Last year, the company made $10.4 billion. The increase in profits comes after investors were worried about falling vehicle prices due to the ease in pandemic shortages, higher labor costs following the United Auto Workers strike, and the challenge of making EVs a profitable investment.

Ford leaders noted that resilient U.S. sales, the absence of the strike costs, and a full year of profit from the company’s new Super Duty F-Series truck could lead to profit growth. The company found that pickup trucks and big sport-utility vehicles are too
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