Ford Motor's first-quarter net income plunged to $471 million from $1.3 billion a year earlier, as EV losses and production halts took a toll, the company said Monday. Revenue dropped to $40.7 billion from $42.8 billion, and wholesale deliveries fell 7% to 971,000 due to slower output of some models, according to the Wall Street Journal. The electric-vehicle division lost $800 million, down from $1.3 billion, helped by lower material costs and stronger pricing. Adjusted pretax income fell to $1 billion from $2.8 billion, still beating Ford’s…
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