This is the "Mustang" EV. Ford Falcon would be closer to what it looks like and they could bring back the name of a proven winner and not lose the mystique of the name Mustang.
Posted on 05/10/2024 6:57:25 PM PDT by SeekAndFind
Ford reported losing over $100,000 per electric vehicle sold in the first quarter of 2022, with its electric vehicle division posting a $1.3 billion loss.
Electric vehicle sales volumes dropped 20% as Ford was forced to slash prices due to weak industry demand.
“Americans don’t want EVs at levels Biden’s climate hysteria require,” businessman Andrew Puzder wrote on X. “Ford’s EV Q1 losses soared to $1.3 billion — a ridiculous $132,000 per EV sold. All Ford’s profits came from combustion engine vehicle sales. Collectivist policies destroy prosperity.”
The company expects $5 billion in electric vehicle losses for the year, up from $4.7 billion last year.
Ford has delayed two new electric models and will instead focus on hybrids as consumer demand plummets. Analysts note many automakers rushed into electric vehicles that were too expensive given small market demand.
“Many companies rushed in too fast with E.V.s that were too expensive and there was not as much of a market for them as they thought,” Guidehouse Insights principal analyst Sam Abuelsamid said. “That’s made it a lot tougher to sell those vehicles.”
Numerous companies have canceled electric vehicle plans or are struggling financially due to high prices, quality issues, lack of charging infrastructure, and performance decreases – reflecting widespread consumer complaints that electric vehicles remain inconvenient and unreliable.
(Excerpt) Read more at msn.com ...
When are these company executives going to have the guts to tell the O’Biden regime to take a long walk off a short pier?
Ford is getting exactly what they deserve, for kissing the feet of Big Brother.
This is the "Mustang" EV. Ford Falcon would be closer to what it looks like and they could bring back the name of a proven winner and not lose the mystique of the name Mustang.
It’s ok. They’ll make up for it in increased prices for their pickup line.
I once thought that electric cars might make sense if we had a battery without all the disadvantages of current batteries. But a knowledgeable guy pointed out to me that we could not come close to producing the tremendous amount of electricity needed to support a large electric car fleet.
Ain’t socialism grand.
[Bill Ford]
Yeah, but they’ll make up for it in volume government bailouts once they are mandated.
Probably one of those college educated dummies with no common sense which is a common problem nowadays as they teach everything else in school excepts what needs to be. Thanks for the come back......
Henry Ford is spinning in his grave.
Yeah, when they demand the bailout, the loss will be recalculated at $200,000 each.
No doubt.
They’ll have to take my gas-powered car out of my cold dead hands.
When what things “fall into place”?
Electric vehicles will never be practical transport until anyone can walk into Walmart and buy a Mr. Fusion to power it.
Good for Toyota and Honda.
Ford lost $132,000 on every electric vehicles they sold in Q1. It was so bad that even CNN reported it!
And then we have Hertz dumping its inventory of EVs. A slew of used Teslas have hit the Hertz car sales website after the company announced Thursday it planned to sell off 10,000 more electric vehicles from its fleet than originally planned, bringing the fire sale’s total to 30,000.
Perhaps one of the reasons you can get such a good deal on a Tesla at Hertz right now is that the outlook for EV value retention is pretty grim at the moment.
It's called creative accounting. They figure in how much profit they should have made and calculate the losses based on that figure instead of real life costs and sales. They have a fancy name for this accounting (the name escapes me right now) and it doesn't seem legal but they do it anyways.
They arevalso talking about the upfront costs that had to be sunk to get build the infrastructure. If these cats had sold, they might have still lost $100,000, but next year they might have only lost $80,000 because some of the infrastructure would have been paid for.
In tens years time, then these vehicles would have been profitable.
> They’ll make up for it in increased prices for their pickup line. <
I would mind paying $75,000 for a new Ford pickup. But they’d have to throw in a really nice house by a lake. My local Ford dealer has declined my offer. So far, anyway.
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