Ford's Model e EV division reported a net revenue of around $100,000 in the first quarter.Adding in expenses, though, the Blue Oval's EV arm lost $1.3 billion for the quarter.Ford largely blames margin-cutting price cuts for the massive drop in revenue compared to Q1 2023.Ford reported a net income of $1.
Model e, on the other hand, lost close to $130,000 per vehicle on the approximately 10,000 EVs it moved in the first quarter of 2024. And that's before putting interest or taxes into the equation.Even the good news for Model e is . . . well . . . not that good. Take the division's reported revenue of around $100 million, which should be cause for some celebration.
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