Biden Says the EV Market is ‘Rapidly Growing.’ (Ford Just Halved Its Electric Truck Production) – IOTW Report

Biden Says the EV Market is ‘Rapidly Growing.’ (Ford Just Halved Its Electric Truck Production)

WFB:

The White House on Monday released a “Bidenomics” report that touted the “rapidly growing” electric vehicle market. Just hours later, Ford announced plans to cut the production of its electric truck in half, citing insufficient demand.

The report, which came from White House chief economist Heather Boushey, claimed the “U.S. consumer market for EVs is rapidly growing” and touted President Joe Biden’s efforts to meet that “growing demand by setting ambitious goals for accelerating the EV transition.” Ford threw cold water on those claims hours later, when a leaked memo from the automaker revealed that it plans to produce just 1,600 F-150 Lightnings per week in 2024, a significant reduction from the 3,200 it initially planned to produce. The memo said “changing market demands” motivated the cuts.

“We’ll continue to match production with consumer demand,” a Ford spokeswoman said. more

20 Comments on Biden Says the EV Market is ‘Rapidly Growing.’ (Ford Just Halved Its Electric Truck Production)

  1. It is actually rapidly growing. It’s just the SUPPLY market that’s growing. The demand part of the market they’re still coming up with ways to force people to buy. One interesting statistic, California’s number one selling car is Tesla and how goes California goes the country so they say. It’s coming.

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  2. I went down “car dealership road” a month ago shopping for a car for my youngest. I went to about 15 dealerships. There were no good deals so I ended up buying a car from Abdul in Garfield Park (homicide central) in Chicago. Anyways, every dealership had rows and rows of electric cars that all looked the same tucked away in the back. They had the pre owned inventory up front with insane markups. Prices for used (gas) cars are remaining high, especially at dealerships, because they aren’t making them anymore and want to jam you into an alien tech rolling cell phone instead where they charge over sticker price.

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  3. Keep up the good work people… they’re getting the message!
    Like everything else these stumbling, bumbling, idiots, lame-brainz and miss-fits from the Island of Busted-Ass Toyz do, it is simply preposterous to fabricate a product and then go out and try to make a market for it, especially when people don’t want their arms twisted to buy it!!

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