“The path to higher margins is clear, and the first-quarter demonstrates those building blocks in action,” said
Ford CFO Sherry House. “The strength in the quarter reflects strong execution in our profit pillars, and we remain on track to deliver our full-year cost reductions. When combined with accretive recurring revenue from software and physical services and decisive actions to improve our EV performance, we are driving a fundamentally more profitable business, allocating capital with extreme discipline, protecting our balance sheet, and positioning Ford to deliver consistently higher returns.” House also said that the company is on track to recover profits from the Novelis aluminum shortage in the second-half of the year.