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Ford EV Sales Plummet 80% Amidst Production Woes
28 Oct
Summary
- Ford's Q3 EV sales dropped 80%, continuing a downward trend.
- Production was halted at Dearborn Truck Plant due to supply issues.
- Ford anticipates wider losses in its Model e EV business unit.
Ford is bracing for its third-quarter earnings report, with a significant 80% drop in EV sales dominating recent performance. This sharp decline in the Model e division, expected to post a loss of $1.17 billion on $1.12 billion in revenue, underscores the challenges Ford faces in the electric vehicle sector. These losses are wider than the previous quarter's $919 million.
Adding to operational concerns, Ford encountered supply issues in September, leading to production halts at its Dearborn Truck Plant for nearly a week. Kansas City Assembly also experienced reduced shifts. The company has downplayed these disruptions, labeling them as short-term and contained within full-year guidance.
In terms of overall sales, Ford's U.S. volume decreased by 6.6% in Q3, largely due to planned phase-outs of the Escape and Lincoln Corsair. Excluding these models, volume remained stable, though F-series truck sales saw a slight 1.9% dip. The automaker recently unveiled a refreshed 2027 F-150 with more V8 options, aiming to meet customer demand for traditional engines.
