"Ford's Mixed 2023: Record Sales and EV Losses Spur Industry Evolution"

Ford Motor Company experienced a record quarter for electric vehicle (EV) sales, leading to a 7.1% increase in U.S. sales to nearly 2 million vehicles. Despite this success, Ford's EV business unit, Model e, is projected to lose about $4.5 billion in 2023 due to high production costs. However, this loss is seen as a necessary step towards long-term profitability, with the company aiming for an 8% EBIT margin by the end of 2026 through increased sales, design and engineering improvements, and lower battery costs. Ford's commitment to EVs, including the popular F-150 Lightning, positions it as America's No. 2 EV brand and indicates potential growth in 2024 with new vehicle releases.