In 2024, Ford's electric vehicle and software division continued to incur heavy losses, totaling $5.1 billion and expected to rise to $5.5 billion in 2025. The automaker's gas vehicles remain profitable, contributing to a full-year net income of $5.9 billion. Despite improving costs in its Model e division, Ford anticipates significant headwinds from new vehicle launches and declining car prices in the coming years. The company is also navigating the EV landscape with fewer models compared to competitors like General Motors, which has had more success with its EV offerings.
Ford's electric vehicle and software business lost $5.1 billion in 2024, with predictions of a $5.5 billion loss due to market challenges ahead.
Despite $1.4 billion in cost improvements, Ford faces significant challenges in EV profitability, struggling to compete with rivals like General Motors.
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