Ford's commercial vehicle business profit offsets electric vehicle business losses

In the first quarter of 2023, Ford's commercial vehicle business performed well, with profits exceeding Wall Street's expectations, successfully offsetting the losses in its electric vehicle business. Although the electric vehicle business Model E lost $1.3 billion in the first quarter, an increase of 83% year-on-year, Ford's commercial vehicle business Ford Pro made a profit of $3.01 billion in the first quarter, a year-on-year increase of 120%.