FORD Loses Billions in EVs, CEO Sounds Warning Against Trump’s Tariffs

Ford reported a whopping $5.1 billion loss in its EV and software division for 2024.

And the losses continue.

They stand to lose $5.5 billion this year.

Time to pull the plug on this EV experiment gone wrong!

But traditional gas vehicles kept Ford profitable, with a $5.9 billion net income.

No surprise there.

CEO Jim Farley warned that tariffs threatened by President Trump on imports from Mexico and Canada could ‘devastate the industry’, raise prices, and slash profits.

Slash profits? Like those EVs they keep making?

I guess we know where his loyalty lies.

Better keep an eye on Ford and Mr. Farley.

HARD PASS: Ford Motor Company has reported a $5.1 billion loss in its electric vehicle and software business for 2024, with expectations of losing even more in 2025. pic.twitter.com/w6qvWxoD6M

— Breitbart News (@BreitbartNews) February 6, 2025

Is Tesla going to soon be the loner ranger of EVs?

So many EV companies are just in the toilet with their profits.

Breitbart reports:

Ford Motor Company has reported a $5.1 billion loss in its electric vehicle and software business for 2024, with expectations of losing even more in 2025.

The Verge reports that on Wednesday, Ford Motor Company announced its fourth quarter and full-year earnings for 2024, surpassing Wall Street expectations. However, the automaker also reported substantial losses in its electric vehicle (EV) and software division, known as Model e. The company lost $5.1 billion in this segment in 2024, a significant increase from the $4.7 billion lost in the previous year. Furthermore, Ford predicts that losses will continue to mount, potentially reaching $5.5 billion in 2025.

Despite these setbacks in the EV business, Ford’s traditional gas-powered vehicles continue to perform well, generating sufficient revenue to keep the company profitable overall. The automaker reported a full-year net income of $5.9 billion and an adjusted earnings of $10.2 billion. However, Ford cautioned that its earnings may drop by $2 billion or more in 2025 due to the costs associated with new vehicle launches and declining car prices.

During the earnings call, CEO Jim Farley addressed concerns about potential tariffs threatened by President Donald Trump on imports from Mexico and Canada. Farley stated that while a few weeks of tariffs would be “manageable,” prolonged tariffs would have a “huge impact” on the industry, potentially wiping out billions of dollars in profits and adversely affecting U.S. jobs and the entire value system in the automotive sector. He also warned of higher prices for consumers if the tariffs remain in place.

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Compared to its rivals in the EV market, Ford appears to be lagging behind. While General Motors released several new electric models last year, including Chevy and Cadillac vehicles, Ford currently offers only three battery-electric vehicles for sale. Moreover, GM’s EV business is showing signs of profitability, while Ford’s continues to struggle.

Ford’s EV losses hit billions in 2024, is the worst yet to come? https://t.co/mVPtww968q

— Autoblog (@therealautoblog) February 7, 2025

Time for change in the auto sector.

Will EV cars go the way of the dodo bird?