Ford Motor Company's third-quarter earnings revealed rising EV losses caused mainly by slowing demand and the EV price war initiated by Tesla at the start of the year.
Ford managed to sell 20,962 electric vehicles in Q3, beating General Motors by a slight margin thanks largely to increased Mustang Mach-E production – Mach-E sales rose 42.5 percent in Q3 with 14,824 units sold, 5,872 of which in September alone.
The carmaker's EV deliveries increased by 44 percent, leading to a 26 percent growth year-over-year in revenue to $1.8 billion for the Ford Model e EV unit.
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