Ford (F) is expected to release its first quarter 2023 earnings after market close on Tuesday, May 2, as the company’s first report to break down EV financial results separately. Wall Street analysts expect Ford’s overall earnings to increase slightly in Q1 alongside higher revenues as the industry’s shift to fully electric vehicles intensifies.
Ford EV sales in the first quarter of 2023
After selling a record 61,575 fully electric models last year, Ford’s momentum slipped in Q1, losing its position as the second-largest EV manufacturer in the US to rival American automaker General Motors (GM).
Ford sold 10,866 EVs in the first three months of the year, representing 41% growth year-over-year (YOY).
The biggest surprise was Mustang Mach-e sales fell nearly 20% to just over 5,400 units compared to 6,734 in Q1 2022, though it was mainly due to its plant in Mexico undergoing renovations to ramp production.
Meanwhile, despite a production halt earlier this year, F-150 Lightning sales reached 4,291, with demand for electric trucks climbing.
Ford continues to be a leader in the commercial segment, with E-Transit sales up 62.7% as businesses and fleets look for zero-emission alternatives.
Ford Mustang Mach-E (Source: Ford)
Ford Q1 2023 earnings preview
Ford’s upcoming Q1 earnings are expected to be the first where the automaker will break down its financial results into three segments, Ford Model e (EV), Ford Pro (business and software), and Ford Blue (ICE).
Ford has already said it expects the electric vehicle business to lose $3 billion this year as it looks to double Mach-e and triple F-150 Lightning production.
This comes after Ford already lost $2.1 billion last year and a total of $6 billion since 2021. Despite the massive losses, the automaker expects its first-gen EVs to approach the breakeven point this year. However, the surplus will be more than offset by new electric investments.
As for the first quarter, we will likely see substantial losses from Ford’s EV unit with lower margins and production hurdles.
Ford Q1 2023 revenue forecast (Source: Estimize)
On the positive side of things, with supply chain issues easing and input costs falling, Analysts are forecasting overall revenue to increase to around $39 billion from $34.5 billion in Q1 2022.
Ford Q1 2023 earnings forecast (Source: Estimize)
Earnings per share (EPS) is expected to come in around 0.41 to 0.42, showing slight growth from 0.38 in the first quarter last year.
Rival GM released Q1 earnings last week, showing revenue growth of 11% to $40 billion in the first three months of 2023. GM says it expects a breakout year with new EV launches after raising earnings and cash flow guidance for the year.
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Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.
Getty Images | Getty Images News | Getty Images
Crude oil futures jumped more than 3% Sunday after Israel struck two natural gas facilities in Iran, raising fears that the war will expand to energy infrastructure and disrupt supplies in the region.
U.S. crude oil rose $2.72, or 3.7%, to $75.67 per barrel. Global benchmark Brent was up $3.67, or 4.94%, at $77.90 per barrel.
Israeli unmanned aerial vehicles struck the South Pars gas field in southern Iran on Saturday, according to Iranian state media reports. The strikes hit two natural gas processing facilities, according to state media.
It is unclear how much damage was done to the facilities. South Pars is one of the largest natural gas fields in the world. Israel also hit a major oil depot near Tehran, sources told The Jerusalem Post.
Iranian missiles, meanwhile, damaged a major oil refinery in Haifa, according to The Times of Israel.
Oil prices closed more than 7% higher Friday, after Israel launched a wave of airstrikes against Iran’s nuclear and ballistic missile programs as well as its senior military leadership.
It was the biggest single-day move for the oil market since March 2022 after Russia launched its full-scale invasion of Ukraine. U.S. crude oil jumped 13% in total last week.
The war has entered its third day with little sign that Israel or Iran will back down, as they exchanged barrages of missile fire throughout the weekend.
Iran is considering shutting down the Strait of Hormuz, a senior commander said on Saturday. About one-fifth of the world’s oil is transported through the strait on its way to global markets, according to Goldman Sachs. A closure of the strait could push oil prices above $100 per barrel, according to Goldman.
However, some analysts are skeptical Iran has the capability to close the strait.
“I’ve heard assessments that it would be very difficult for the Iranians to close the Strait of Hormuz, given the presence of the U.S Fifth Fleet in Bahrain,” Helima Croft, global head of commodity strategy at RBC Capital Markets, told CNBC’s “Squawk Box” on Friday.
“But they could target tankers there, they could mine the straits,” Croft said.
Kenworth has announced the addition of Bendix’ Fusion advanced driver assist system (ADAS) to its line of options on the T680 line of Class 8 commercial semi trucks – a lineup that includes the Next Generation T680E battery electric semi truck.
One of the many new trucks revealed at the 2025 ACT Expo in Anaheim, California earlier this year, the Next Generation Kenworth T680E featured the latest advancements in battery-electric technology, an enhanced exterior design, and a suite of new, in-cab technology that extends to the addition of three Bendix Fusion version: ADAS, ADAS PRO, and ADAS PREMIER.
All three of the announced ADAS packages offer updated Adaptive Cruise Control (ACC) with ACC Stop and Auto Go™, a new Pedestrian Autonomous Emergency Braking (PAEB) feature, and a new High Beam Assist feature to reduce the likelihood of blinding oncoming drivers supported by the addition of a new forward-looking camera.
Those updates are in addition to the ADAS units Autonomous Emergency Braking (AEB), Multi-Lane Autonomous Emergency Braking, Highway Departure Braking (HDB), and Stationary Vehicle Braking (SVB), Lane Departure Warning, and Bendix® Blindspotter® Side Object Detection already available on previous versions of the ADAS-equipped Kenworth.
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Kenworth migital mirrors
Kenworth DigitalVision Mirrors; via Bendix.
Now that we’ve got that acronym-loaded word-salad out of the way, we can get to the point: the newest generation of electric trucks is easier and safer to drive – and not just safer for the truck’s operators, but for the people who share the roads with them, too.
Kenworth T680E electric semi
Next Generation T680E; via PACCAR Kenworth.
The Next-Generation T680E is available with up to 605 peak hp and 1,850 lb-ft of torque from a PACCAR Integrated ePowertrain fed from a 500 kWh li-ion battery pack good for more than 200 miles of loaded range. The updated Class 8 BEV is rated up to 82,000 lb. gross vehicle weight ratings (GVWR), and can get that load back up to speed quickly with a 350 kW peak charge rate that means the T680E can charge up to 90% in just two hours.
“This move to a fully integrated and ground-up PACCAR design means we were able to design for enhanced serviceability,” explains Joe Adams, Kenworth’s chief engineer. “Providing easier access to the Master Service Disconnects for improved safety and increased uptime and allowing the use of the DAVIE service tool for troubleshooting and diagnostics.”
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Just like it says on the tin – retailers are advertising killer deals on the fun-to-drive Kia Niro EV, with one midwest auto dealer reporting more than $10,000 off the sticker price of the Niro EV Wind. That’s nearly 25% off the top line price!
The Kia Niro EV gets overshadowed by its objectively excellent EV6 and EV9 stablemates – both of which are currently available with substantial lease cash and 0% APR financing, in fact – but that doesn’t mean it’s not an excellent little electric runabout in its own right.
The last time I had a Niro EV tester, my kids loved it, I liked that it was quicker and more tossable than I expected it to be, and my wife liked the fact that “it doesn’t look electric. It looks normal.” And, with well over 200 miles of real world range (EPA-rated range is 253 miles), it was more than up to the task of commuting around Chicago and making the trip up to the Great Wolf Lodge in Gurnee and back without even needing to look for a charger.
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It’s not the primary family hauler I’d choose – but as a second car? As a primary car for a slightly smaller family (1-2 kids, instead of 3-4)? The Kia Niro EV Wind, with a $42,470 MSRP, seems like a solid, “can’t go wrong” sort of choice. You know?
You won’t even have to pay that much, though. Raymond Kia in Antioch, Illinois is advertising a $42,470 Niro EV for $32,431 (that’s $10,039, or about 24% off the MSRP), and several others are advertising prices in the $33,000 range.
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