Ford Continues to Cut Electric Vehicle Sales Amid Demand Uncertainty

Ford Continues to Cut Electric Vehicle Sales Amid Demand Uncertainty

Updated October 26, 2023 at 7:15 p.m. ET

Ford engine posted third-quarter net income of $1.2 billion, following a loss the year before, but it withdrew its guidance for the year, citing the impact of the United Auto Workers strike .

The company also announced plans to invest $12 billion in electric vehicles, reiterating concerns about consumer demand and pricing pressure from competitors. It plans to delay construction of a second battery factory in the United States, a facility in Kentucky that is a joint venture with Korean battery maker SK On.

Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8



With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
Back to top button