Ford (F) Model E EV segment lost $4.7 billion in 2023

In its Q4 2023 earnings report, Ford revealed that it lost $4.7 billion on its Model E EV segment.

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Ford (F) reported its Q4 2023 earnings report on Tuesday, February 6, 2024. In the report, Ford reported that its Model E segment lost $4.7 billion in 2023.

An after hours chart for Ford (F) after releasing its Q4 2023 earnings report

Ford had this to say about its Model E segment in the Q4 2023 earnings report posted to its investor relations website:

Sales volumes of the F-150 Lightning pickup and Mustang Mach-E SUV both were up year-over-year and respectively the top-selling electric pickup and No. 3 most popular EV of any type in the U.S. for 2023.

While it sounds promising that wholesales and revenue were both up double-digits for the full year, it’s also notable that despite that the Model E segment lost $4.7 billion overall. In fact, Ford expects these losses to continue through 2024.

For more financial reporting from the gaming and technology industries, stick with Shacknews.

Managing Editor

Bill, who is also known as Rumpo, is a lifelong gamer and Toronto Maple Leafs fan. He made his mark early in his career through guide writing and a deep understanding of editorial SEO. He enjoys putting in the work to create a great content, be it a wild feature or grinding out an in-depth collectible guide. Tweet him @RumpoPlays if you have a question or comment about one of his articles.

From The Chatty
  • ? reply
    February 6, 2024 2:18 PM

    Bill Lavoy posted a new article, Ford (F) Model E EV segment lost $4.7 billion in 2023

    • ? reply
      February 6, 2024 2:31 PM

      Ford's playing the long game here, right? They're actively monitoring and working with charging networks to help increase reliability and they're building their own facilities to produce EV parts and stuff? They continue to say they're investing and don't expect their EV division to be profitable yet?

      • ? reply
        February 6, 2024 4:05 PM

        Yeah, I think that's a fair assessment. But the short-sighted money grubbers won't want to hear it.

      • ? reply
        February 6, 2024 8:06 PM

        They're going with the Tesla supercharger network starting this year, the other charging networks will become an afterthought to them. Those networks are going to have to improve a lot very quickly to stay relevant.

        • ? reply
          February 7, 2024 6:19 AM

          Tesla is going to have to improve as well. Just about a month ago in the Chicago area a lot and I mean a lot of chargers were straight up broken that were Tesla’s. Or sometimes they’d take 4 hours to charge instead of 40 minutes leading to many cars getting towed.

          It was all because of how cold it was. I’m sure the other chargers are even worse but pretty embarrassing to have so many failures and temps weren’t even as cold as it gets in the area

      • ? reply
        February 6, 2024 8:14 PM

        They’re also giving the NACS adapters to all owners for free. They want to lead the way.

    • ? reply
      February 6, 2024 4:08 PM

      Anecdotal, but around here F-150 lightnings aren't selling. Partly due to the fact they are 100,000 dollar trucks but also the compromises an owner she to make instead of just getting a gas f-150 for 85k seem to be deal breakers.

    • ? reply
      February 6, 2024 5:51 PM

      Ouch. GMC going back to PHEV and this and all the Tesla hate makes me worry that EVs are going to be like 3D TVs in the future.

      • ? reply
        February 6, 2024 5:54 PM

        solid state batteries are going to change everything. it'll be wild

        • ? reply
          February 6, 2024 7:30 PM

          Bring on the Intel X25-M of EV batteries!

      • ? reply
        February 6, 2024 8:09 PM

        Eh, the Tesla hate is because of Musk. Honestly, they'd be better off if they got rid of him. Nothing against the vehicles themselves, people are turned off because of the association with the shitheel CEO.

    • ? reply
      February 6, 2024 8:11 PM

      The irony being that Ford's EVs are actually good. Both are directly and favorably comparable to the Tesla equivalents, especially once they move charging networks. I'm still planning on getting a Mach E this year.

      • ? reply
        February 6, 2024 8:16 PM

        I got mine a week and a half ago. Love it. Still getting used to not driving like an asshole to maximize charge.

        Got the Premium AWD standard range with the LFP battery.

        • ? reply
          February 6, 2024 8:17 PM

          Yeah, everyone I know who has one loves it. I'm going for the Rally Edition lol.

        • ? reply
          February 7, 2024 6:19 AM

          Same as mine, fine car!

          My only regret is that I also paid $500 for the Ford Mobile Charger, which doesn’t work for a lot of different port types. Bought one of these instead:

          https://a.co/d/7VoCDdV

    • ? reply
      February 7, 2024 6:10 AM

      They’ve made upfront investments in production infrastructure that they’re expecting to pay out over a decade or two, so it seems somehow mischaracterizing the situation to say that they lost a bunch a money. Does a farmer lose a bunch of money the first year they buy a tractor, or are they making an investment?

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