Ford's Electric Vehicle Strategy Amid Market Pressures

Ford's CEO, Jim Farley, recently announced in an earnings call the company's intention to release a new line of affordable electric vehicles, potentially starting from $25,000 to $30,000 This move is a direct response to the promise from Tesla and the slowing demand in the EV market Although first-quarter earnings surpassed expectations and EV sales surged, Ford faced a significant 84% decline in EV revenue, prompting a strategic shift. The commercial Pro unit, however, marked a 40% increase in EV adoption and remains a key growth component for the company Ford's revenue forecasts for Q1 2024 are estimated at approximately $40.10 billion, with the Model e EV unit contributing roughly $24.5 billion Despite the challenges, Ford is holding steady on its full-year EBIT outlook and anticipates generating an adjusted free cash flow of $6.5 to $7.5 billion..