It lost $5.1 billion in 2024 and estimates it'll lose even more this year. Electric vehicles are still generally unprofitable due to the high costs associated with making batteries, which remain the priciest component of an EV.

Ford managed to beat Wall Street’s expectations for the fourth quarter of 2024, posting $48.2 billion in revenue, up $2.2 billion year-over-year. Gains from its gas-powered vehicle sales helped offset net losses from an unprofitable EV business.