Ford is losing $150,000 on every EV it sells: report

US newswire Bloomberg claims that Ford is losing around $US100,000 ($A150,000) on every single EV it sells globally, following the release of the US car giant’s 2024 first-quarter earnings.

For the first three months of this year, the Blue Oval reported $US1.3 billion ($A2b) in losses within its Model e division, despite sales growth and recent improvements to the bottom line after slashing costs.

That has led to claims of six-figure losses for each EV, including the Ford Mustang Mach-E, F-150 Lightning pick-up and the E-Transit van.

Over the first quarter, Ford EV sales climbed by an impressive 86 per cent, although volume was relatively modest at only 20,223 units combined.

The Mustang Mach-E is currently Ford’s best-selling EV, achieving 9589 sales worldwide over the first quarter. Of those, 181 were sold in Australia.

Saving Ford’s bacon was its Ford Pro division that, thanks to strong sales of trucks like the Super Duty, boosted its profit to $US3 billion ($A4.5b).

Ford Blue, which is in charge of its hybrid and combustion offerings, also made $US900 million ($A1.4b) globally.

In a bid to slow its losses, Ford has already reportedly reduced the number of EVs it makes and cut battery orders with suppliers.

Ford has yet to officially respond to the claim it loses almost $150K on every EV it sells.

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