“I think the customer has spoken. That’s the punchline,” said Jim Farley, the chief executive of Ford.
The American boss was speaking last week as his company unveiled a $5bn (£3.7bn) annual loss, barely two months after it had booked a shock $19.5bn write-down.
The cause? An aggressive bet on electric vehicles (EVs) that backfired spectacularly.
In 2025, sales of the Mustang Mach-E crossover and the F-150 Lightning pickup truck – once hailed by Farley as the “truck of the future” – went into reverse.
