Currently reading: Ford loses $827m after closure of self-driving start-up

American giant reports big Q3 loss despite increased revenues; comes after Fiesta cancellation

Ford made an $827 million (£713m) loss in the third quarter of 2022 due to the closure of Argo AI, the autonomous vehicles start-up it backed with Volkswagen.

The loss comes after Ford took a $2.7 billion (£2.3bn) non-cash pre-tax impairment on its investment in the firm.