“So I think the customer has spoken. That’s the punchline,” he said during Tuesday’s earnings call. Ford’s EV unit posted a $4.8 billion loss in 2025, as sales of its Mustang Mach-E, F-150 Lightning, and E-Transit fell 14% from a year earlier.
Now, the automaker is reshaping its electric strategy — shifting toward lower-cost, high-volume EVs and leaning harder into hybrids. It’s a reversal of Ford’s early strategy of electrifying its most iconic, priciest vehicles first, betting that brand loyalty and subsidies would offset sticker shock.
He’s talked about this before, he drives all sorts of competitors cars to better understand them. He likes this one specifically, but him not driving a Ford isn’t anything special.