Ford Authority

Ford EVs Lost $32K Per Unit In Q2 2023

Ford’s Q2 earnings call produced a bit of mixed results for The Blue Oval, with some good news leveled out a tad by a round of equally bad news. While the Ford Blue ICE and Ford Pro commercial sides of the business raked in substantial amounts of profit, the same cannot be said of the Model e division, which handles Ford EVs. In fact, while Ford Blue raked in $2.3 billion in pretax profit and Ford Pro brought in $2.4 billion, Model e lost around $1.08 billion. More staggering is the fact that Ford EVs lost $32,000 per unit sold in the second quarter, however.

It’s not exactly a surprise that Model e continues to lose billions, given the fact that Ford has been quite clear regarding the fact that it doesn’t expect the division to turn a profit until 2026, shortly after its first second-generation EVs enter production riding on dedicated platforms and sporting lower costs. However, this Q2 result did prompt the automaker to exercise a bit more caution in regards to its predictions, as it notes that the pace of EV adoption has diminished in recent months.

“The near-term pace of EV adoption will be a little slower than expected, which is going to benefit early movers like Ford,” said CEO Jim Farley. “EV customers are brand loyal and we’re winning lots of them with our high-volume, first-generation products; we’re making smart investments in capabilities and capacity around the world; and, while others are trying to catch up, we have clean-sheet, next-generation products in advanced development that will blow people away.”

At the same time, however, Farley revealed that Ford is now pushing back its goal of producing 600k EVs globally by the end of 2023. The automaker now expects to reach that mark at some point next year, all while continuing to work toward its goal of building two million units annually by 2026.

We’ll have more on Ford Model e soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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  1. David Dickinson II

    The article under the article is “Ford says it lost $2B on EV unit in 2022.” Well, now it is 2023 and Ford is losing $1B per quarter. It looks like they are making up their EV investment in volume, and Ford will double its EV loss to $4B this year.

    And this is just Ford. Everyone not named Tesla is losing their shirt on EVs. How much money can they continue to flush down the green dream hole?

  2. Jeff

    Maybe they should concentrate on what’s making them money. Like the truck division. They need to get the supply chain for super duties straightened out.

    1. StarLord

      In fact Farley just confirmed that. They are doubling down on the pro market and easing up in the EVs.

  3. StarLord

    The auto industry and the UAW has got to love Joe Biden pushing them into bankruptcy over something that the majority of the American customers don’t want.

  4. Robert Byrne

    WOW !! I could not afford one when the PRO came out at $39,995!! I ordered a Maverick hybrid xlt 2 times in 18 months .it came in 4 months after I found a Base santa cruz SE awd for $28,500 , Ford seems to have NO PR dept. any Longer.not a peep from them till I came in , talked each month to ford customer service dept. them and the dealer seemed cluless through the whole deal!! sad now the dealer ,which has 6-7 stores now has 32 mavericks on the lots for sale,all are special order ones that people did not take sad as I have had fords

    1. Bob

      Major markups is why mavericks sit on lots. Dealers are crazy.

    2. wright

      I agree totally. One of the reasons i went with Ram.

  5. Dave

    That’s why unions support democrats

  6. Chris

    We also joined the Nationwide grassroots boycott against EVs. Thankfully the #Bud Light tactic against EVs is working. Diesel is cheap and diesel trucks are selling like crazy. Diesel is much better than EVs

    1. CP

      Not sure where you live, but diesel is not cheap where I live in W.Maryland. Priced the same as 97 octane.

  7. Joe

    They can build as many as they want, just don’t expect that they will have that many customers to buy them. We bought 2 new Ford/Lincoln 2022 ICE vehicles, and plan on keeping them a very long time.

  8. Bob

    So Ford can’t make EVs as good and cheap in Mexico as Tesla makes in the usa. Guess they will go broke in 4 years as China and Europe will outlaw gas cars leaving them only the us as Tesla gets better every year. Tesla Semi and other advancements will bury Ford.

    1. Mackie

      How many Semis has Tesla sold in its first 7 months of production and how much does Tesla profit on them?

  9. Elaina Reiter

    Maybe if Ford had better dealer service for EV owners, they might sell more of them. Dealers treat EV owners like step children, particularly the senior owners who require more assistance in navigating the electronics!

  10. CP

    The globalists need major losses in their corporations. Stuffing the “greenie” crap, that nobody wants, down people’s throats, just to “Save the world” from a hoax , is pure bunk. They deserve every dollar of loss they receive.

  11. rt

    I see about 1 in every 20-25 vehicles here in AL on my daily commute. Our infrastructure is no where near the capacity for the tree huggers to charge their cars. I pass by a parcel of land that is being “cleared” for a Toyota engine plant solar farm. Go figure!! :). Clearing trees for a solar farm! Ford will bury itself if it keeps pushing the EV game! Customers have proved they do not want them!!!

  12. rt


  13. Richard

    I have been a EV hater for a long time. Then, I had the opportunity to drive an F150 Lightning on a 275 mile road trip. Stopped one time to charge for 15 minutes costing $4.48 and reached the destination with 87 miles left on the range. The truck is very comfortable with a better ride than the gas F150.

  14. Dave Mathers

    What a wonderful business model!! This is what happens when businesses get sucked in by left wing politicians and tree huggers.

  15. Mike C.

    Some of the comments are hilarious 😂. No one is forcing you to buy an EV. I have the hybrid Maverick & the Tesla Model Y, the number 1 selling car in the world. There is no scheduled maintenance for my Tesla. No gas, no oil change, no transmission, and maintenance free.

    1. Richard

      You got it right!

    2. Tigger

      Wait until you have to start replacing batteries and tires twice as fast as an ICE vehicle.

  16. Bill Howland

    Management is incompetent to lose this much cash on every ev

  17. Bill Howland

    They are blaming losses on low sales?

    Well duh!!!!!!! If they sell more they can’t make it up on volume.

    That used to be a kid’s joke.

  18. HarleyRich

    We own 4 ICE vehicles, 3 of which are FORDS.
    Our next vehicle will also be an ICE….
    WE/ME as an AMERICAN want a choice in what
    I purchase, not what some delusional dreamer is demanding what I buy.
    I would buy a hybrid before I would even consider an EV…

  19. Mf

    The auto industry as a whole moved way too fast into EVs due to pressure from governments and venture capitalists. Little did they recognize that it was not the unlimited size market they tried to sell it as. Now there will only be a few survivors. Probably those who wasted the least on it.


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