Ford reports $2.3 billion in first quarter earnings, plunging 41% from a year ago

Ford Motor Co. reported $2.3 billion in earnings before interest and taxes — with a decline of 41% or $1.6 billion — for the first three months of this year. The company saw a net loss of $3.1 billion compared with a $3.3 net income in 2021. General Motors reported on Tuesday a quarterly net profit of $2.9 billion, compared with $3 billion in the year-ago first quarter. Ford ended the quarter with $29 billion in cash on hand and $45 billion in liquidity. The automaker plans to build more than 2 million vehicles by the end of 2026. Ford will continue to invest in its internal combustion engine business ‘in its engine ‘in . . .