Breitbart: Ford Motor Company reported a whopping $132,000 loss on each electric vehicle (EV) sold during the first three months of 2024, amassing a $1.3 billion loss.
The auto manufacturer’s electric vehicle unit revealed Thursday that they experienced a 20 percent decrease in sales volume and were forced to slash prices due to low consumer demand, CNN reported.
The revenue for Ford’s EV car, the Model e, plunged by 84 percent to about $100 million, which the company blamed on EV price cuts across the auto industry.
“That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit,” the publication noted. more
I AM
SO FORD KING
WE TODD ED
https://m.youtube.com/watch?v=o5jxVyJRCwo
We lose $24,000 on each car, but me make it up in volume. LOL. What a screwed up country we live in.
Let me know if they have a ‘go fund me’ account…
Wait, never mind.
“Imagine we lived in a world where all cars were EVs, and then along comes a new invention, the “Internal Combustion Engine”! Think how well they would sell: A vehicle half the weight, half the price that will almost quarter the damage done to the road.
A vehicle that can be refuelled in 1/10th of the time and has a range of up to 4 times the distance in all weather conditions. It does not rely on the environmentally damaging use of non-renewable rare earth elements to power it, and use far less steel and other materials.
Just think how excited people would be for such technology, it would sell like hotcakes!”
Give me Fuel Give Me Fire, not Amps bitches. They weren’t listening. They were caught up in the coup.
The consumer is still king in America. Most of us don’t want these frickin ridiculous vehicles. Deal with it or go broke.
Even with Old Joe’s war on oil people still don’t want EVs. 0bama’s Energy Secretary Steven Chu said gas needed to be $7 to $8 a gallon to ‘nudge’ people to electric.
Mo Parr
I had a corrupt youth growing up as a street racer and a motor head. A body Mopars, 340’s. One Wednesday night at the strip we set up next to an older guy in the pits with a 406 Gremlin. Old dude tells me MOPAR stands for My Old Pig Ain’t Running. I got past him, but I had to pedal hard.
@ Brad SUNDAY, 28 APRIL 2024, 23:46 AT 11:46 PM
Mach 1s, Big Block Cyclones and Fairlanes for my brother and I. I also had Yamaha RD & RZ two-stroke street bikes
“The revenue for Ford’s EV car, the Model e, plunged by 84 percent to about $100 million, which the company blamed on EV price cuts across the auto industry.”
84% loss of REVENUE based on price cuts?
Sales of about $600 million down to $100 million isn’t due to “price cuts,” it’s due to inept management not pricing adequately to stay relevant in the market they want to sell into. If the industry cut prices across the board and you didn’t, you’re effectively not in that industry anymore, pricing YOURSELF into irrelevance!
Vehicles aren’t worth what the auto makers price them as, they’re worth what people are willing to pay. Dealers and manufactures are desperately clinging onto high pricing models they set when supply chains were allegedly constricted and attempting to use those models as precedent. They will all learn the hard way.
There are only 9 car models available on the market today priced under $25k. In other words, most everyone is priced out of the majority.
Even Edsel Ford didn’t fuck up this bad.
“As it turned out, the Edsel was a classic case of the wrong car for the wrong market at the wrong time. It was also a prime example of the limitations of market research, with its “depth interviews” and “motivational” mumbo-jumbo.”
https://time.com/3586398/ford-edsel-history/
Gee, this sounds awfully familiar.
George Santayana: ‘Those who do not remember the past are condemned to repeat it.’
What do you bet that Joey will order all Federal departments to buy Ford electric vehicles this year?
@Tony R — I wonder if DARPA has looked into EVs as munitions? Or at least the EV batteries. Dropping an F-150 Lightning or a Rivian on somebody would surely mess up their day.
How many Teslas could B-52 carry, I wonder?
They stuck a horse grill-ornament on a rolling fire-bomb and called it a “Mustang.”
Even Amos & Andy wouldn’t drive a truck called “Lightning.” An F-150 “Kingfish” maybe.
No problem the government will make us pay for it.
Remember ” The Road to Hell is paved with good intentions”
Mr liberty they didn’t lose 24k on each car.
they lost 130,000 on each one
I own and drive a 2023 Chevy Bolt. I traded my 2010 425 hp Mercedes E63 with 220,000 miles which I bought used 9 years ago but would list today for $124,000 new. My Mercedes gave me no trouble until it fell apart all at once. $7,000 to replace a headlight. I kid you not. My mechanic said that the lights get so hot that the wire insulation melts and the whole harness has to be replaced. There were other expensive repairs it needed. I did research on the Bolt and all of the reviews by owners with more than 100k miles on them had never taken it into the shop. Not even for brake pads. This thing is vastly quicker than my 425 hp Mercedes on the uptake. The Mercedes had an advertised 0-60 of 4.25 seconds but the torque on the Bolt puts that thing to shame. It’s like a souped up golf cart with an electric razor for an engine. I did the math before I bought it and I figured that if I had bought the Bolt instead of the Mercedes during the time I owned it, I would have paid for the Bolt with the gas I spent on the Mercedes. Since then my business has fallen off and I don’t drive 33,000 miles a year like I used to but with the tax credit on the Bolt it was the cheapest car on the market. Right up there with the Kia Soul and the Chvey Trax which have suck acceleration and none of the high end options my Bolt has.
This Bolt is the best car I ever had. You can laugh all you want. It’s like a Gremlin in a world of Corvettes.
EV’s are the future. Only Tesla seems to have a viable product. Tesla sold a fraction of the Ice cars GM and Ford sold but makes more profit than GM and Ford combined. I can Tell you, even ECP will buy on one day and tell us all how wonderful it is!
@ MAF
There are no good intentions here.
The road to hell is paid with bad intentions not good ones.
Good intentions will lead to good results.
An electric golf cart would be more useful and I don’t even golf.
Fuck evs, fuck joetato, and fuck all democrats.
In the end the taxpayer always takes it up the ass.
I saw a photo of a coal freight train. The caption said
“Electric vehicle food”
One of the biggest flaws in the EV world is that Americans don’t like being forced into an EV because of a government agenda. Let the cars and the technology compete in a fair and level playing field. But because the EV is not yet ready for prime time, it has to be subsidized and incentivised When they can get a 33kW battery down to 10lbs or less it starts to become competition to a gallon of gas. Until then your just hauling around a ton of battery that is no more pollution free than an ICE vehicle when everything is taken into consideration.
Then there is Ford. I wouldn’t buy an EV, let alone one made by Ford. Ford has the worst track record for reliability and the highest number of recalls. They spent a LOT of money investing in EVs and now they’re backing out and shutting down their partially constructed plant in KY thanks to Farley Fuckup, their CEO. Probably one of the most important asset that a CEO can have is the ability to see into the future and predict the direction of the company down the road. Farley Fuckup is one of the most myopic CEOs I’ve ever seen! He couldn’t see the technology of EVs isn’t where it needs to be and he couldn’t see the political agenda attached to it, but he went into it whole hog! Now they are dumping their EVs (and unloading their problem child on to an unsuspecting public) and he can’t even see the class-action law suits waiting in the wings when these things turn into junk. Ford would be better off destroying their inventory rather that paying out billions over the next ten years to make a lot of lawyers very wealthy!
I might point out that before last year there was no subsidy for buying an EV that I know about but Tesla was selling them at a profit. Ford and gl have proven that even with a subsidy they will never produce an EV at a profit. I will never buy an ice car again and most but not All EV owners say that all I hear from critics on this board are lond charging times. I have never not charged at home. if I still had an ice car I have driven across town to Sam’s and filled up 600 times. do the math on time wasted there
Related???
From the Feral Irishman…
For the gearheads
https://www.youtube.com/watch?v=jrNgX9hDAac&t=7s
ford, buy a dildo with an electrical cord & stick it up your ass
@Jom:
Then your level of ignorance is quite remarkable because the fed govt advertised their subsidies and states advertised their tax breaks loudly and persistently.
Here’s an angle on the EV debacle. I read earlier, Ford will suffer a 42,000.00 loss on every EV it MAKES. Here we have an article that says they’ll suffer a 132,000.00 loss of every one SOLD.
See the angle? Looks mighty rough out there.
On Saturday. I drove four hours to visit a life-long friend is going through a hard time stayed six hours and drove four back. I was able to visit a very sad friend and maybe cheer him up a bit. I couldn’t have done that in an EV. He lives in a tiny town near Needles CA, where there’s no charging. Someone’s life would have sucked and been more miserable because of EV’s.
Cynic – And that right there is a really is a good point!
EVs are OK as a local errand runner or a grocery getter… if they were cheap enough. Quite frankly that would satisfy 95% of my needs today being retired, but not at 70K AND knowing that the technology is still evolving AND seeing the pushback from the public! If you have an ICE car it satifies all your needs. If you have an EV you need two cars. The EV for short trips and ICE for long trips.
Something else to consider – China has over 500 EV manufacturers. FIVE HUNDRED! Think they don’t have a lot of motivation to sell EVs in the West by promoting “Global Warming”???
“EV’s are the future”
Not in the foreseeable future. The “Grid” won’t handle the needed capacity to charge a heavy saturation of them. Not even close. Toyota is, I believe, the only manufacturer that didn’t fall for this bull shit. And why. A quick study indicated there’s just not enough juice to charge them all. How long do yo suppose it would take our government to increase capacity on the grid? It won’t happen in our life times.
Brad – that is also another important point – hauling a lot of battery around. It takes horsepower to move weight. if you have a 100kW battery that weighs over half a ton to get you 300 miles, then how much further can you go if the battery only weighed in at 61Lbs (10 gal of gas @ 6.2Lbs/gal)
That why I stated earlier that 1 gal of gas = 33kW and that if they can get a 33kW battery down to less than 10lbs it starts to be competitive.
Granted electric motors can generate the horsepower, but if you take the horsepower OUT of the battery, you have to put it back in plus 10% or more and that horsepower comes from the grid! Today’s EVs are like have a second home with regard to electrical requirements. Imagine doubling the number of homes in a neighborhood… Can’t do it!
AJ
Just because you have “good intentions” does not mean good result.
The Nazis started with good intentions to revive Germany by controlling the people and the economy.
The Communists in Russia had good intentions of removing the Czar and the other leaders by the people being in charge.
Malthus had good intentions for the Earth by reducing the population.
The Demorats have good intentions by trying for communist goals for the betterment of America. Et Al.
Just some minor good intentions gone bad.
“Not in the foreseeable future. The “Grid” won’t handle the needed capacity to charge ”
This is patently and provably false. My electric bill goes from $120 in the spring to $450 in June and July from AC. My EV adds tops $30 per month to my bill and that’s only if I drive 2000 miles a month (most here don’t do that)
If your ICE car is bought and paid for, it is insane to buy an EV as -Harry pointed out. If you drive a crazy amount and you need a new car EV is the way to go. In 2023 the average selling price o a new car was $47,500. A Tesla model 3 starts at $38,000 and the model Y at $42,000. The most expensive Model Y, the performance is $52,000. When you factor in what you get and the money you save on gas It’s a no brainer assuming you buy a NEW car (something that doesn’t make sense for most people)
jpm
What do they use to generate fuel for your EV. The entire concept is built around a false premise.
Toyota published their study. This is not false. PG&E and Cal Edison have issued warnings that during peak usage times you might not be allowed to charge your EV. That starts this summer.
When you factor in what you get… you get a LOT of expensive landfill cuz nobody’s gonna pay the hefty bill for a new battery that will factor in the expensive disassembly and recycling of the old one, so you’re gonna have to sell that old one that you “saved” all that money on for a buck!
Yeah… that’s the ticket… more landfill!
Ships, Trains, Farm tractors and Semi Trucks will NEVER work with battery power….That’s how all of your goods and services are manufactured and travel to you to buy….The best way to kill the economy and therefore America is by pushing the EV bullshit….That’s why they continue to push the EV nonsense….
@ jpm MONDAY, 29 APRIL 2024, 14:37 AT 2:37 PM
According to the EPA, a gallon of gas is equal to 33.7 kw/hr. On my latest bill electricity cost me 36.8 cents/kw/hr At that rate $30 would buy 81.5 kw/hr, the equivalent of less than 2 and 1/2 gallons of gas. So you’re telling me your EV gets the equivalent of 800 mpg. A pretty big pill to swallow!!
To JPM’s point though, I have a pal that picked up a Tesla pretty cheap. I live in Teslaville, I think. You can’t swing a dead cat with out hitting about ten of them. Always white. Anyway back when gas a diesel first jumped he was laughing at all of us. He traded it in on a Dodge Cummings last month. But he save a shit load of money for the last year to year and a half.