Ford’s EV unit weighs on Q1 2024 earnings as Pro remains the dark horse

Introducing Ford's Q1 2024 Earnings

Ford's EV revenue fell 84% in Q1 2024

due to fierce pricing pressure,

despite an 86% surge in EV sales.

The F-150 Lightning and Mustang Mach-E saw significant sales growth,

solidifying Ford's position in the US EV market.

Ford's commercial Pro unit continues to rise as a dark horse,

with a 40% increase in EV adoption

and a 148% surge in E-Transit sales.

Ford is delaying EV production and focusing on smaller, more affordable EVs,

while introducing more hybrids to the mix.

Despite the challenges, Ford maintains full-year EBIT guidance

and expects improved EV costs going forward.

Stay tuned for Ford's continued evolution in the electric vehicle market.