Written by Cláudio Afonso | LinkedIn | X
Ford shares fell nearly 5% on early Thursday following the company’s fourth-quarter results. Despite reporting year-over-year revenue growth of 5% to $48.2 billion, the company’s EV unit lost another $1.4 billion bringing 2024 losses to over $5 billion.
Chief executive Jim Farley said in the earnings call that the company is “deep in the development of our next-generation of vehicles” that Ford believes it will be “affordable, high-volume and great for our business.”
Ford Model E, the company’s EV unit, saw its sales grow 10% with the Detroit automaker citing increased investments in future products, new battery plants, and new electric models.
“The EV market, we continue to see new models launch, increased competition with increased pricing pressure,” Ford’s chief executive Jim Farley said while teasing higher interest in hybrid models.
“On hybrids, we continue to see the market grow aggressively, but now in diverse markets like truck customers who are learning that a hybrid can also mean uncompromised towing and torque and payload and other performance advantages, including fuel economy,” he added.
Total revenue increased both sequentially and year over year to $48.2 billion.
Ford’s CEO praised Trump’s administration on the tariffs agreement announced with Mexico and Canada saying the company is “closely monitoring the situation in China.”
“There is a fundamental transformation happening in the backdrop of these policy changes in our industry globally,” Of course, the overall tariff and trade situation, the growing importance of digital vehicles, the Chinese OEMs growing to become a global reality, these dynamics will all play out for some time to come, but Ford controls its future.
In early December, the carmaker unveiled its new fully electric Puma Gen-E, with orders now open and deliveries set to begin this spring. The model will be built at Ford’s Craiova, Romania, factory, alongside the E-Transit Courier and ICE Puma models.
Ford said it will report first-quarter 2025 earnings results on April 28.
