Ford lost $1.3 billion in its electric vehicle department during the first quarter of 2024, which is about $132,000 per vehicle it sold.
The loss is due to the car maker lowering the price of its electric models while also appropriating funds for further research. Electric vehicle revenue brought in $100 million, which is an 84% drop from last year.
It is expected that Ford will continue to lose money on its EV models, as the company predicts a total loss of $5 billion this year. Last year, the company lost $4.7 billion in its electric division, which was about $40,525 per vehicle it sold.
A Ford Mustang Mach-E electric vehicle with Ford BlueCruise Hands-Free Highway Driving is at the New York International Auto Show in New York on Saturday, March 30, 2024. (AP Photo/Ted Shaffrey)
Meanwhile the Ford Pro
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