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1 month ago

Ford CEO says 'customer has spoken’ after EV shift drives major quarterly loss

Ford on Tuesday posted its largest quarterly loss since 2008 amid losses in the automaker's electric vehicle (EV) division, as well as the impact of tariffs and a fire that impacted an aluminum supplier.The Detroit automaker reported a fourth quarter net loss of $11.1 billion after previously disclosing large writedowns to its EV programs, which the company is realigning in response to lower-than-expected consumer demand and changing federal subsidies."I think the customer has spoken," Ford CEO Jim Farley said on the company's earnings call. "That's the punchline."The company lost $4.8 billion...

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1 month ago
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