Ford Motor Company

The vehicle is a 2024 Ford Mustang Mach-E

The company says all will cost less, have longer range and be profitable within a year of reaching showrooms.

Jim Farley’s comments come amid a significant increase in sales of smaller vehicles so far this year

Ford Motor Co. reported Wednesday that its second-quarter net income fell 4.7% from a year ago as its combustion-engine unit posted a pretax loss due to rising warranty and recall costs.

Ford is holding a 10-day grand opening for the former train depot

Ford sold just over 24,000 Lightnings last year, up 55% from 2022. But dealers are reporting slower sales and rising inventories.

Bill Ford, executive chair of Ford Motor Co., and his wife Lisa Ford are raising $10 million to help ten Detroit nonprofits serving young people start endowments.

Farley said as the company looks at the transition from internal combustion to electric vehicles, “we have to think carefully about our (manufacturing) footprint.”

The recall covers Explorers from the 2011 through 2019 model years.

Ford sold just over 24,000 Lightnings last year, up 55% from 2022.