Image: placeholder (no licensed photo of the current Mach-E).
Ford released its third-quarter 2026 results on 28 October (US time). Its electric-vehicle division, Ford Model e, lost US$1.058 billion before interest and tax, about A$1.6 billion. That is 25% less than the US$1.41 billion it lost a year earlier. But revenue fell faster: down 31% to US$1.2 billion, from 34,000 wholesale vehicles. So the loss per dollar of sales got worse, with an EBIT margin of minus 86.5%.
Ford's numbers
| Ford Model e | Q3 2025 | Q3 2026 |
|---|---|---|
| Revenue | about US$1.7B | US$1.2B (down 31%) |
| EBIT | -US$1.41B | -US$1.058B |
| EBIT margin | -79.1% | -86.5% |
| Wholesale units | about 49,000 | 34,000 (down 31%) |
Ford says the lower volume reflects ending the F-150 Lightning and "right-sizing" the Mustang Mach-E. It still expects Model e to lose about US$4 billion across 2026. In July it said that forecast includes about US$1 billion of extra spending, mostly in the second half, on its Universal EV platform for cheaper EVs and on Ford Energy. Across the whole company, Ford made US$2 billion net income on US$49.5 billion of revenue and raised the low end of its full-year adjusted EBIT guidance to US$10.5 to 11 billion.
What it means here
The Mustang Mach-E is the only Ford passenger EV on sale in Australia. Current prices before on-road costs:
| Mustang Mach-E | Price | WLTP range |
|---|---|---|
| Select RWD | $64,990 | 470 km |
| Premium RWD | $79,990 | 600 km |
| GT AWD | $97,990 | 515 km |
Ford hasn't announced any change to Australian Mach-E supply, and this report says nothing specific about this market. The result does show where Ford is putting its money. The current Mach-E is a first-generation EV that Ford is "optimising", while new investment goes to the Universal EV platform. Ford's own US figures show it is building fewer of them. If you're considering one, it's a reasonable time to push for a discount on stock cars. Check how long Ford Australia commits to parts and software support, and compare with newer rivals around $65,000 to $80,000.
Sources
- Ford Motor Company, Third-Quarter 2026 Financial Results, 28 Oct 2026 (Investor Relations)
- Ford release via Business Wire
- Ford Australia, Mustang Mach-E
US$ converted at about A$1.52 per US$1. Australian prices exclude on-road costs.