Posted on 07/31/2023 12:25:06 PM PDT by ChicagoConservative27
Ford Motor Company projects it will lose a staggering $4.5 billion on electric vehicles (EVs) in 2023, up from its previously predicted loss of $3 billion earlier this year.
Ford, which has recently reduced the price of its electric F-150 Lightning pickup truck, announced Thursday that the company is projected to lose $4.5 billion from EVs this year, according to a report by Fortune.
The company’s EV division, called “Ford Model e,” has already lost about $1.8 billion so far this year. The projected loss of $4.5 billion reportedly stems from slower-than-expected adoption of the new battery-powered vehicles.
(Excerpt) Read more at breitbart.com ...
i am betting the bottom is $10 a share.
That’s okay.
They’ll make it up in volume..................
Stop selling gasoline. Force the peons to buy these electric appliance vehicles!
the gas car ban should help sales
we, ICE owning tax payers, will bail them out.
EVs. Nobody wants them otherwise we’d all have them now.
Well, last year, Gavin Newsom and the California Air Resources Board, decreed that no new internal combustion engine vehicles can be sold in California in 2035. A few other states and some countries in Europe are also using the 2035 target date.
Car companies such as Ford, are probably banking on government regulations force feeding electric cars, and they expect to make profits in future years on electrics, even if they show big losses now.
And for all we know, there are tax credits or other tax subsidies, which help Ford offset these big losses on electrics.
Manufacturing and government involvement with such is a train wreck to come. Always is.
Memo To Ford: The ‘best’ is yet to come.
The Watermelon Party:
”Green” on the outside
but RED on the inside!
Maybe they can make their losses up with that new woke rainbow-painted faggot truck the morons came out with a few weeks ago...LOL..../s
“Several EVs and hybrids now selling below MSRP, report says”
“That’s okay.
They’ll make it up in volume..................”
Ford lost over a billion on the Coyote engine introduced in 2011. The made that back and more in the next 12 years.
Just wait until the insurance companies get through with the rate hikes for EV’s because of the risks.
Reality. This in addition to new plants in KY and TN. Billions of capital loses now will result in profits later.
Ford is investing $3.5 billion to build an LFP battery plant in Marshall, Michigan; this wholly owned subsidiary is part of Ford’s $50 billion+ global push to lead the EV revolution. Initial production slated for 2026 with 2,500 employees to start
Gee golly. That sure sux. 🤔
““Several EVs and hybrids now selling below MSRP, report says””
Every ICE car I bought new since 1977 was below MSRP except for a 1985 Honda CRX.
I’m surprised about Ford, the wouldn’t take Gov’t money like GM but they sucked up to Biden on EV’s they’re not as conservative as I thought.
“we, ICE owning tax payers, will bail them out.“
The Government issued 10 Billion in “loans” about a month ago.
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