After GM beat Wall St expectations last week with upbeat guidance for 2025, Ford looks to match it. Like GM, Ford will likely face more headwinds this year with Trump expected to end federal EV incentives. He is also threatening to impose tariffs on US trade partners, including Mexico, where the Mustang Mach-E is built.
Although GM doesn’t report separate breakdown for electric vehicles, it said they achieved a “positive variable profit” in Q4 2024.
After losing another $1.2 billion in the third quarter, Ford’s Model e business racked up 3.7 billion in losses through the first nine months of 2024. Ford expects EV losses to reach around $5 billion for the year.