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Ford Motor Co., rapidly retooling its electric vehicle strategy in a decelerating market for plug-ins, posted first-quarter results that beat expectations on strong sales of work trucks.

Demand from fleet-based vehicle operators is a lone bright spot for the EV industry as global sales sputter.

Ford slashed prices of its electric F-150 Lightning pickup truck by as much as 7.5% as the automaker prepares to resume deliveries this month following a halt this year over a quality issue.

Ford Motor Co. sees low-cost Chinese electric vehicles as a “colossal strategic threat” that will arrive on U.S. shores, as automakers already confront shaky consumer demand for EVs.

Ford Motor Co. said that it would reduce the number of workers making its F-150 Lightning truck as demand for electric vehicles continues to weaken.

U.S. auto sales softened at the end of last year as higher financing costs and near-record prices took their toll on would-be buyers.

Electric vehicle inventories on U.S. dealer lots reached a new high in December, with a 114-day supply that was more than double what it was a year ago.

Ford Motor Co. is cutting 2024 production goals in half for its F-150 Lightning plug-in pickup truck — its signature electric vehicle — due to slowing demand for battery-powered models.

Ford Motor Co. said it fell short of third-quarter earnings expectations, citing higher costs and lower quality, a day after it won labor peace through a tentative contract with the UAW.

Ford Motor Co. became the latest strike target for the United Auto Workers after members walked out of its largest plant, a highly profitable pickup factory in Kentucky.