Ford CEO Jim Farley has a question about President Donald Trump's threatened tariffs on imports from Mexico, Canada, and China: Why stop there? Farley

Ford is the first major automaker to report earnings since Trump signed an executive order stating that the U.S. would impose 25% tariffs on goods from Mexico and Canada, which would affect Ford.

For the full year of 2024, Ford posted a net income of $5.9 billion on adjusted earnings of $10.2 billion. Its electric vehicle business, however, lost $5.1 billion, even worse than its loss of $4.7 billion the year prior. It expects to lose even more, $5.5 billion, on EVs in 2025.

The US automotive group Ford once again recorded a hefty loss in its Model e division in last year. At $5.1 billion, it was even higher than in 2023. Ford now

Ford is projecting its electric car business will lose another $5.5 billion dollars this year.That figure matches last year’s deficit and eclipses the $4.7 billion the company lost building EVs in 2023—so for those of you keeping track at home that's a projection of roughly $15 billion in losses.

Ford’s electric vehicle and software business lost $5.1 billion in 2024, up from $4.7 billion lost in 2024. And the automaker doesn’t anticipate any relief this year, when it predicts it will lose as much as $5.

Ford Motor on Wednesday projected up to $5.5 billion in losses on its electric vehicle and software operations this year, a loss similar to last year and a sign of the severe difficulties in cutting costs on battery-powered models.