Ford’s Profits Zoom 🚗, But EVs? Not So Fast ⚡️…What’s Up?

TL;DR; Ford’s conventional car sales give them a profit boost in 2023, while EVs dig a deeper hole in their pockets. Why’s Ford’s electric dream hitting some speed bumps? 🛑⚡

With an enviable threefold surge in quarterly earnings, Ford is living the dream… kinda. Those conventional car sales? 🚗 Absolutely on fire! But if you thought their electric vehicles (EVs) are part of this profit parade, well, think again.

These electric babies seem to be causing a little more heartburn than Ford might’ve predicted. The company’s putting on the brakes 🛑 as they hint that their near-term EV losses are, uh, juicier than we all anticipated. Yikes!

Now, let’s talk numbers. Ford’s profits for Q2 stood at a whopping $1.9 billion (yeah, billion with a ‘B’). That’s like watching your money grow almost three times in a year! And their revenue? An impressive $45 billion, up by 12%. Not too shabby, right?

But wait, there’s a plot twist! 🌀 John Lawler, the Chief Financial Officer, described the current period as… and then he left us all hanging! Oh, the suspense! What does it all mean? 🤔

Hold on, though. Shares of this massive US automaker did a bit of a cha-cha. After the initial joy ride uphill thanks to those bomb results from the internal combustion engine (ICE) vehicle sales, they dipped. Why? EVs, that’s why.

Remember when we all thought electric was the future? 🌍⚡ Well, it probably still is. But it seems like Ford’s transition might be more of a marathon 🏃‍♂️ than a sprint.

So, here’s the million-dollar question (or should we say $1.9 billion?): If electric is the future and it’s all clean and green, why’s Ford’s wallet feeling the pinch with EVs?

Is it the tech? The market? Those mysterious battery elves? 🧝⛓️ Or is there something bigger at play?

Disclaimer: This article is not intended as investment advice. All actions taken based on this article’s content are at the reader’s discretion. Turnt Up News does not endorse or recommend any financial decisions.

What do you think? Why’s Ford’s electric journey looking like a rollercoaster? 🎢🔋 What’s your electric prediction? Dive into the debate below! ⬇️