The United Auto Workers union said it reached a new tentative deal with Ford that could bring an end to a six-week strike at one automaker while negotiations continue at General Motors and Chrysler-parent Stellantis.
Ford Motor lost about $37,000 on each electric vehicle it sold last quarter. It doesn’t help that the company’s gas-engine business also costs more than it should—a difference from crosstown rival General Motors that investors are ignoring at their peril.
The third-quarter results Ford reported after hours on Thursday weren’t great, with an adjusted operating profit of $2.2 billion. That was better than the same period, when the company was forced to put out a profit warning, but worse than the $2.7 billion analysts expected. By way of comparison,Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved
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