I'd have sooooo many toys from all American car manufacturers from back then - and we're not supposed to love the world...
Posted on 04/29/2024 6:03:44 AM PDT by ChicagoConservative27
Ford’s electric vehicle (EV) division lost $1.3 billion in the first quarter of 2024, which adds up to a $132,000 loss for each of the 10,000 EVs sold.
Sales of Ford EVs also plunged by 20 percent compared to last year, and “its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry.”
Ford expects losses on its Model e to hit $5 billion by the end of the year.
More:
The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford. Instead the losses include hundreds of millions being spent on research and development of the next generation of EVs for Ford. Those investments are years away from paying off.
…
The company said it is its “intention” to be have EV pricing cover the actual costs of building each EV, rather than covering all the research and development costs, within the next 12 months. But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.
(Excerpt) Read more at breitbart.com ...
HAHAHAHA!! that’s freaking great.
The price of Ford Stock remains consistent at $12 + a little.
What says is that the stock owners are committed to the bitter end. The market as a whole has written Ford off as a loser, no place to invest good money.
The Ford EV problem means they lack the engineering and technical talent and ability to make electric vehicles. What their single minded engineers tried to do is to electrify a vehicle rather than create an electric vehicle.
They failed.
Ford is terminally ill
Same here. Most of mine would be MOPAR though.
Oh I’d have a bunch of those - starting with a 69 Charger, a 70 Challenger, a Super Bee, a Hornet / RoadRunner, and more
And Chevy
And AMC
And a few Japanese cars
And some British cars
Then my guitar collection......
Taxpayers will make up for it.
Unless there is some miracle breakthrough in battery technology EVs will remain at best a niche market. EVs are simply too expensive and too limited in range and capability to fit the needs of most car and especially truck buyers. The buyers of EVs are also realizing that they are expensive to repair and eat tires due to their weight. The performance of EVs in cold weather could also dissuade many buyers who do not want to be caught in with a frozen vehicle during cold snaps.
Ford stockholders should be up in arms with these losses and demand new corporate leadership.
h, No. The taxpayer lost even more on subsidies, electrical net subsidies and road damages.
In the old days the Deuce would have fired the person that made that decision, or not have made that decision at all.
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