Ford bet big on its EV project, and it resulted in a $19.5 billion write-down people didn't buy enough of them.

Ford sold 549,200 vehicles in Q2, down 10.3%. Pure EV sales plunged 40.7%. F-Series sales fell 11% after its top aluminium supplier suffered two factory fires.

Ford said its EV sales fell by 40.7% during the quarter compared with a year earlier, while sales of its F-Series trucks, including the F-150, fell 11%.