Ford reported a huge loss on each electric car it sold

Ford is retreating despite 86% EV sales growth to 20,233 in the first quarter of 2024. Sales increased by double digits for all Ford electric cars.

Top-selling electric pickup in the US was the F-150 Lightning, with 7,743 sales, up 80% over last year. At 9,589 units, Ford's Mustang Mach-E was the second best-selling electric SUV in the US, up 77% from Q1 2023.

With 2,891 sales in Q1, Ford E-Transit sales rose 148%. Growth put Ford second in the US EV market.

Ford's Mach-E and Lightning pricing decreases earlier this year boosted sales.

Ford delayed BlueOval City EV production until 2026 despite increased EV sales. It is also delaying its three-row electric SUV launch to focus on cheaper EVs.

As it develops its next-gen electric cars, Ford will add additional hybrids.

Ford Model e lost $4.7 billion on 116,000 EV sales, or $40,525 per vehicle, in 2023, just more over a third of the first quarter deficit.

Ford's Model e EV segment forecasts $24.5 billion in revenue and $1.65 billion in EBIT loss.