Ford (F) Model E EV segment lost $4.7 billion in 2023
In its Q4 2023 earnings report, Ford revealed that it lost $4.7 billion on its Model E EV segment.
Ford (F) reported its Q4 2023 earnings report on Tuesday, February 6, 2024. In the report, Ford reported that its Model E segment lost $4.7 billion in 2023.
Ford had this to say about its Model E segment in the Q4 2023 earnings report posted to its investor relations website:
Sales volumes of the F-150 Lightning pickup and Mustang Mach-E SUV both were up year-over-year and respectively the top-selling electric pickup and No. 3 most popular EV of any type in the U.S. for 2023.
While it sounds promising that wholesales and revenue were both up double-digits for the full year, it’s also notable that despite that the Model E segment lost $4.7 billion overall. In fact, Ford expects these losses to continue through 2024.
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replyBill Lavoy posted a new article, Ford (F) Model E EV segment lost $4.7 billion in 2023
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Ford's playing the long game here, right? They're actively monitoring and working with charging networks to help increase reliability and they're building their own facilities to produce EV parts and stuff? They continue to say they're investing and don't expect their EV division to be profitable yet?
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Yeah, I think that's a fair assessment. But the short-sighted money grubbers won't want to hear it.
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Tesla is going to have to improve as well. Just about a month ago in the Chicago area a lot and I mean a lot of chargers were straight up broken that were Tesla’s. Or sometimes they’d take 4 hours to charge instead of 40 minutes leading to many cars getting towed.
It was all because of how cold it was. I’m sure the other chargers are even worse but pretty embarrassing to have so many failures and temps weren’t even as cold as it gets in the area
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Same as mine, fine car!
My only regret is that I also paid $500 for the Ford Mobile Charger, which doesn’t work for a lot of different port types. Bought one of these instead:
https://a.co/d/7VoCDdV
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They’ve made upfront investments in production infrastructure that they’re expecting to pay out over a decade or two, so it seems somehow mischaracterizing the situation to say that they lost a bunch a money. Does a farmer lose a bunch of money the first year they buy a tractor, or are they making an investment?
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