Ford Model e Q3 2026: Smaller Loss, EV Sales Down a Third

Ford Model e in Q3 2026: Loss Shrinks, but Electric Car Sales Fall 32%

Ford's electric car division Model e lost money again in the third quarter of 2026, although the loss was smaller than a year earlier. Sales of electric cars fell by about a third, electrive reported on 29 October after Ford published its results.

Key takeaways

Model e lost about €0.98 billion in Q3 2026 (US$1.1 billion), against about €1.25 billion a year earlier.

Revenue fell 33% to about €1.07 billion in Q3 2026.

About 34,000 electric cars sold, down from about 50,000 in Q3 2025.

After nine months of 2026 the loss stands at about €3.1 billion, in line with Ford's forecast.

The figures

The operating loss (EBIT) of Model e was about US$1.1 billion in Q3 2026, roughly €0.98 billion at 2026 exchange rates. In Q3 2025 the loss was US$1.4 billion. Revenue fell from US$1.8 billion to US$1.2 billion, or about €1.07 billion in Q3 2026, which gives an EBIT margin of minus 86.5%. Ford blamed the loss on higher spending on next-generation products and on its new subsidiary Ford Energy. The quarterly loss was slightly bigger than in the first half of the year.

At the start of 2026, Ford expected a full-year Model e loss of US$4 to 4.5 billion, about €3.6 to 4.0 billion in 2026 money. After three quarters, the deficit is US$3.5 billion, or about €3.1 billion in 2026, so the forecast looks realistic. In 2025 the division lost US$4.8 billion, about €4.3 billion at 2026 rates.

Why sales fell

The US federal tax credit of US$7,500 for electric cars ended on 30 September 2025, and the electric F-150 Lightning pick-up was discontinued in autumn 2025, although dealers still had stock into 2026. In December 2025 Ford announced write-downs of US$19.5 billion, about €17.4 billion at 2026 rates, mostly in its EV business.

What comes next

Ford says it will keep improving the profitability of its first-generation electric cars and speed up affordable models on its new Ford Universal EV (UEV) platform. It also plans to grow Ford Energy, its battery storage business. In Europe, Model e currently sells the Puma Gen-E, the Cologne-built Explorer and the Mustang Mach-E.

What it means for you

For European buyers, nothing changes today: the Puma Gen-E, Explorer and Mustang Mach-E stay on sale. Ford's losses do, however, explain why the brand is focusing on cheaper electric cars and why discounts on current models are possible as it clears stock. If you are shopping for a Ford EV, compare dealer offers, and look at the warranty terms rather than only the list price.

Read more about the Ford Puma, the Ford Explorer and the Ford Mustang Mach-E, or browse the Ford catalogue.