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Ford posts sales declines as EV, hybrid business continue to suffer
Ford Motor Company reported a 5.5% decline in February sales compared to the previous year, with a significant 71% drop in EV sales and a 22% dip in hybrid sales. The company’s struggles in the EV sector are attributed to low demand and the elimination of tax credits, leading Ford to project continued losses on EVs until 2029. Despite these challenges, Ford plans to invest $2 billion to retool its Louisville Assembly Plant for all-electric pickup truck production by 2027.