Ford CEO Jim Farley touching an F-150 Lightning

Ford CEO Jim Farley isn’t feeling so close to the F-150 Lightning these days (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.

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JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

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Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

Max Knoblauch6/8/26

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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

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