Ford Faces Uncertainty as EV Results Worry and Labor Strikes End

Ford Motor has withdrawn its full-year results forecast due to uncertainty over the pending ratification of its deal with the United Auto Workers (UAW) union and warned of continued pressure on electric vehicles (EVs). The company expects the new contract with the UAW to add $850 to $900 in labor costs per vehicle. Ford's concern about cooling EV demand follows General Motors' decision to postpone a $4 billion electric truck plant. Ford lost an estimated $36,000 on each of the 36,000 EVs it delivered in the quarter. The automaker will delay some of its planned investments in new EV and battery production capacity due to downward pressure on prices.