Ford on Tuesday posted its largest quarterly loss since 2008 amid losses in the automaker’s electric vehicle (EV) division, as well as the impact of tariffs and a fire that impacted an aluminum supplier.
The Detroit automaker reported a fourth quarter net loss of $11.1 billion after previously disclosing large writedowns to its EV programs, which the company is realigning in response to lower-than-expected consumer demand and changing federal subsidies.
“I think the customer has spoken,” Ford CEO Jim Farley said on the company’s earnings call. “That’s the punchline.”
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