Ford’s first-quarter earnings report for 2024 showed mixed results. The company’s overall revenue increased 3% year-over-year. However, Ford’s traditional business, Ford Blue, saw its earnings decline by 66% from a year earlier. This decline is partly due to the launch of the new F-150 pickup truck.
On a brighter note, Ford’s commercial vehicle unit, Ford Pro, saw its earnings surge by 120% year-over-year. The company’s electric vehicle unit, Ford Model e, lost $1.32 billion.
In short:
- Ford’s overall revenue increased 3% year-over-year.
- Ford Blue’s earnings declined by 66% year-over-year.
- Ford Pro’s earnings grew by 120% year-over-year.
- Ford Model e lost $1.32 billion.
You can find more details on CNBC.