EVWire brief: Ford’s dedicated EV division, Model e, booked a second-quarter EBIT loss of $1.329 billion, compared to a $1.150 billion loss a year ago. Revenue, boosted by higher Mustang Mach-E and F-150 Lightning volumes, jumped 105% to $2.4 billion. Yet tariffs on Chinese battery cells and spending on Ford’s Marshall, Michigan battery plant pushed the red ink deeper.
Ford’s 16,438 EV sales in the US were down -31.4% in Q2 2025 compared to Q2 2024, and down -11.8% in the first half of 2025.
Details:
In the first half of 2025, Model e’s total losses amounted to approximately $2.2 billion.
Model e’s EBIT margin improved from -99.9% to -56.4%.
Ford writes “Ford Model e margin improved, primarily reflecting our recently launched products in Europe.” Those are likely the Capri and electric Explorer.
Group-wide, Ford posted record quarterly revenue of $50.2B and adjusted EBIT of $2.1B; net loss was $36 million after special items and an $800 million tariff
Ford reaffirmed its 2025 outlook for 40,000–46,000 EV deliveries and $6.5–7.5B in adjusted EBIT for the company.
Context:
Per the Cox Automotive sales roundup in the US, Ford’s EV sales were down by 31.4% in the US in Q2 compared to the Q2 last year, with 16,438 EVs sold. Year-to-date, Ford is also down compared to last year with 38,988 sales in first half of 2025, compared to 44,180 sales the same time last year. It’s share in the EV market in the US dropped to 5.3%, still third overall after Tesla (46.2% and Chevrolet (9.2%), but now very closely followed by Hyundai (5.0%).
Ford spokesperson Martin Gunsberg told Electrek that both the Mustang Mach-E and F-150 Lightning were impacted by the changeover to the 2025 model year and the Mach-E recall.
Source: Cox Automotive
As for specific models that have caused the sales drop, here’s the trend:
Model | Q2 2025 sales | Q2 2024 sales | YoY change | year-to-date change |
|---|---|---|---|---|
Ford e-Transit | 418 | 3410 | -87.7% | -33.8% |
Ford F-150 Lightning | 5842 | 7902 | -26.1% | -16.7% |
Ford Mustang Mach-E | 10178 | 12645 | -19.5% | -2.0% |
Total | 16438 | 23957 | -31.4% | -11.8% |
Jim Farley also left us something to wait for on the EV side:
We have scheduled an event on Aug. 11 in Kentucky where we will share more about our plans to design and build breakthrough electric vehicles in America.”
