This is insane:
— The Kobeissi Letter (@KobeissiLetter) July 25, 2024
Ford, $F, is expecting to lose $5 BILLION on its electric vehicle business this year ALONE.
In other words, Ford loses ~$44,000 on every EV they produce.
Ford’s EV sales were down a whopping 37% last quarter.
Disaster is an understatement. pic.twitter.com/W0WIKfhDCd
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My first car was a Ford. I still own four Ford, models, nothing newer than a 2002, because I do not want all the electronic components, aka, controls, on my vehicles. Hopefully, Ford wises up and phases down, or OUT, of EV production. Losses like these could challenge those of the USPS !
Thet lose $44,000 but they make it up in volume. LOL Ford shareholders should be very happy that they sold so few.
The city-leftist fagalas, kooks, twerps and leftist-tree-huggers who purchase EV’s do not purchase Ford EV’s. They mostly purchase Tesla’s, Rivians and a couple other brands--branded specifically for these city based, red-area goof-balls. This is why Chevy Volt failed and their other EV is failing. No one is going to buy a Ford EV truck or whatever--they are going to dump their money into a Rivian. Outside of the deep-blue city areas--EV sales are practically non-existent.