Ford CEO Jim Farley touching an F-150 Lightning

Ford CEO Jim Farley pats a Ford F-150 Lightning (Bill Pugliano/Getty Images)

Ford’s EV biz lost the value of about 100,000 new F-150s last year

2/5/25 4:31PM

Electric vehicles still aren’t providing the spark Ford’s looking for.

In its latest earnings report, released Wednesday, Ford announced another quarter in the red for its EV division, as expected. Broader results and 2025 guidance also disappointed investors, who sent the stock 4.5% lower after hours.

With its Q4 loss of $1.4 billion, Ford’s total EV loss climbed to $5.1 billion in 2024. That’s up from 2023’s loss of $4.7 billion, and more than double 2022’s loss of $2.1 billion. Put another way, Ford’s EV biz lost about the value of 100,000 new F-150s last year.

Measured against those losses: the 98,000 electric vehicles Ford sold in 2024 (a 35% increase from 2023). The carmaker also sold 187,000 hybrids and about 1.8 million gas-powered vehicles — all increases, though just barely for combustion vehicles.

The automaker is planning lower-cost EVs and extended range EVs, but both lines are reportedly still two years away. In the meantime, the electric F-150 Lightning was outsold in Q4 by Tesla’s Cybertruck (which itself has stalled out).

Overall, Ford’s revenue climbed to $48.2 billion on the quarter, capping the automaker’s highest revenue year ever. Profit grew to $1.8 billion in the three-month period.

Ford’s been toughing it through a bumpy start to the year, with its stock (along with other major auto stocks) dropping and then making a U-turn as President Trump’s planned tariffs on Canada and Mexico were announced and then delayed. The auto industry could be the hardest hit by the proposed levies.

82% of Ford’s North American vehicles are made in the US, so it’s less exposed to tariffs than archrival General Motors, which built around 900,000 vehicles in Mexico last year. Still, Ford’s not fully in the clear: key components for some of its most popular vehicles (including F-series pickups) are imported from across America’s northern and southern borders. Additionally, Ford’s Lincoln Nautilus is built in China, and will be impacted by Trump’s new 10% tariff on goods from that country.

If Trump’s planned 25% tariffs do ultimately get tagged onto vehicles, some analysts believe the average price of a car could rise by $3,000. That would be added on top of Ford’s $57,000 average transaction price, which is already about $2,000 above the average prices for rivals GM, Stellantis, and Tesla.

Max Knoblauch17h

Some automakers are working accounting magic to extend the EV tax credit beyond today’s deadline

The $7,500 EV tax credit is set to expire after today, September 30. Logically, electric vehicle sales are expected to fall off afterward.

But some automakers, including Ford, GM, and luxury EV maker Lucid, have found ways to effectively extend the credit for some customers.

According to reporting by Reuters, Ford and GM have initiated plans to dealers that would have the automakers themselves put down payments on EVs currently in inventory at dealerships. Those down payments would qualify for the expiring tax credit, and dealers would be able to extend the subsidy to future customers through discounted lease rates.

Reuters reports that the programs were launched following discussions between the automakers and the IRS.

In August, Lucid announced that the company would honor the $7,500 tax credit through the end of the year for lessees who order its Gravity SUV by Tuesday at 11:59 p.m. ET.

Exclusive: Ford, GM launch programs to extend use of $7,500 EV lease credit

Reuters reports that the programs were launched following discussions between the automakers and the IRS.

In August, Lucid announced that the company would honor the $7,500 tax credit through the end of the year for lessees who order its Gravity SUV by Tuesday at 11:59 p.m. ET.

Max Knoblauch22h

Boeing is reportedly planning its 737 successor

Boeing has spent much of the year improving its deliveries and climbing out of the hole it dug last year as safety issues and a major strike rocked its business.

Now, the plane maker is weighing what comes next. Boeing is in the early stages of planning a successor to its 737 family of planes, according to reporting by The Wall Street Journal.

Earlier this year, CEO Kelly Ortberg promoted an executive to a role overseeing the 737 replacement and discussed a new engine for the plane with Rolls Royce, per the report.

Plans are early, and the process of developing a new plane can take more than 10 years. Boeing is about six years behind schedule in replacing its 777.

Exclusive | Boeing Has Started Working on a 737 MAX Replacement

Earlier this year, CEO Kelly Ortberg promoted an executive to a role overseeing the 737 replacement and discussed a new engine for the plane with Rolls Royce, per the report.

Plans are early, and the process of developing a new plane can take more than 10 years. Boeing is about six years behind schedule in replacing its 777.

Nia Warfield

9/29/25

Shopify and Etsy pop as OpenAI brings instant checkout to ChatGPT

Shares of the e-commerce companies jumped after OpenAI said ChatGPT users can now turn searches into instant purchases.

Shopify sign on their branch office building in Toronto.

Tom Jones

GRANDE EXIT

9/29/25

Starbucks is shutting around 1% of its stores in North America

The chain is also axing 900 non-retail jobs.

A Starbucks Coffee shop closed during the Covid-19 crisis.

Max Knoblauch9/26/25

“Madden” maker EA surges on report it’s nearing $50 billion deal to go private

Shares of video game giant Electronic Arts are surging up more than 15% Friday following a Wall Street Journal report that the company is nearing a roughly $50 billion deal to go private.

According to the WSJ, an investment group including Saudi Arabia’s Public Investment Fund and PE firm Silver Lake (which is also part of the TikTok deal) could announce a deal next week.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EA’s most intimidating competitor, “Grand Theft Auto” publisher Take-Two Interactive, climbed nearly 5% on the report.

Exclusive | Videogame Giant Electronic Arts Nears Roughly $50 Billion Deal to Go Private