Ford CEO Jim Farley Touts a Fourfold Increase in 2023 EV Sales -- Is Ford Stock A Buy?
Ford Motor Company (NYSE: F) and other legacy automakers are making the transition to electric vehicle (EV) sales, but it's been no joyride. Manufacturing a battery-powered car with sophisticated software that's integral to operations is a very different process compared to internal combustion engine (ICE) mechanics. While Ford ramps up production, every EV that rolls off the production line of this mighty American automaker loses money.
Considering the losses it's absorbing, it may be concerning for some investors that Farley recently touted a fourfold increase in Ford's EV sales in 2023 to some 400,000 units. Thankfully, Ford still predominantly makes ICE vehicles, which it turns a profit on.
Given the current situation, is Ford a solid investment?
Source Fool.com
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