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”.
By the end of the year, Ford anticipates losses for its Model E to be in the region of$ 5 billion.
More:
The costs go far beyond the cost of building and selling those 10, 000 trucks, according to Ford. In addition, hundreds of millions of dollars were spent on Ford’s research and development of the upcoming EV technology. Times are still to go before those assets are profitable.
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The company stated that it is “intention” to have Electric costs cover the actual costs of building each EV rather than all of the research and development expenses within the next 12 weeks. However, a price war among Vehicles for about a month and a half has made yet that measure of success challenging, according to Ford CFO John Lawler. He claimed that while Ford has eliminated about$ 5, 000 from each Mustang Mach-E, “revenue is declining faster than we can get out the value.”
Last year the Model e division lost$ 4.7 billion on” sales of 116, 000 EVs, or an average of$ 40, 525 per vehicle, just more than a third of the first quarter loss”.
It seems to me that it’s about time to call Electric what they are, and that’s the Betamax of cars , best around the world.
Electric Vehicle Sales Plunge Across Europe as Demand Stalls https ://t.co/TPjHgK0yTT
— Breitbart London ( @BreitbartLondon ) April 18, 2024
Sony’s Betamax was a better solution to the VHS video record. However, America wanted the VHS—not only because the VHS recorder was cheaper, but also because it was cheaper and more easy to perform. The videos were less expensive and lasted six hours, compared to the Betamax’s one minute. Positive, the Betamax offered a better audio image, but not exceptional enough to justify the cost. Does any of this sound familiar?
Sure, EVs are more expensive to purchase, more expensive to maintain ( repairs ), and inconvenient ( charge infrastructure, charge time ). They also serve as a status symbol for your economic virtue, which I find objectionable given that the EV’s majority of its power comes from fossil fuels.
What distinguishes driving about looking for Betamax recordings from searching for an EV cable? Oh, I know, you wo n’t get stranded in the middle of nowhere looking for a Betamax tape.
RELATED:  , Climate Protesters Disrupt New York Auto Show, Pour Oil on Electric Vehicle
So Ford is willing to lose$ 10 billion on the Betamax of automobiles in two years? Those are some foolish owners.
Normal People wo n’t effect these extremely expensive cars until EV chargers are as abundant and easy as gas stations… until you can replenish your car in a few minutes instead of an hour or so. Many Democrat-run cities will need to do the reverse of what they are doing right now: build up energy infrastructure to carry the load. That means more energy flowers.
No amount of lies about the environment can actually dispel that, especially if your Betamax, er, extremely expensive EV also needs fossil fuels to power it.
John Nolte’s first and last book, Borrowed Time,  , is winning five- sun shouts from regular users.  , You can read an excerpt , around and an in- level review , around.  , Even available in book on Kindle and Audiobook.  ,
