Ford Lost $22,000 On Every Electric Vehicle They Sold (96,000 Total Units) In 2022. That’s A Negative Margin of 40% On Every EV Car Sold For The Year. Ford Projects They Will Loose Another $3 Billion In 2023. That’s Without A Recession. (media.patriots.win)
posted ago by Restore_Sanity_alt ago by Restore_Sanity_alt +433 / -2
Oh no who could have seen that coming /s
and they're likely passing of the losses in higher pricing of their gasoline powered trucks.
Light trucks avoid many of the rules: fuel efficiency, bumper height, size of cup holders, etc.
You'd think it would be illegal to screw over the stockholders like that. It took long term planning and retooling to fuckup that badly.
There wouldn't be a case as the EU and some US states are threatening to phase out new sales of ICE vehicles so they have to invest in electric cars to survive and there is a lot of capital investments they have to make to produce them. That said I don't want a Ford EV or any of the current EVs barring me winning one in a contest.
How much you want to bet those ICE sanctions are lobbied and paid by Ford and it's ilk? They are fully responsible for the losses.
Why would they lobby for that? Ford only ever seems to make money off it's trucks and they have to pay a good bit because of their overall fleet numbers.
Seriously? Shutting down ICE markets is mandatory to force movement to electric. The market is never going to adopt electric. It's expensive and dirty.
Retooling assembly lines for electric was stupidly risky even with "no ICE" mandates. They've totally hosed their stockholders.
Tesla was the most valuable car company in terms of market cap long before it made any money on electric cars. You'd have no court case, especially since every single one of their competitors is moving to electric cars in their lineup as well.
Except for the Japanese. U.S. automakers foolishly scrapped almost all their car lines for SUVs and trucks. Now with gas prices set to go through the roof there will be no alternative for people wanting cars except for the EVs.
This was a carefully crafted and executed plan to force us into EVs. EVs which limit your mobility due to the lack of any sort of infrastructure for their support. Again part of their plan to restrict citizens from freely moving around the country.
And as for being environmentally positive, who the fuck do they think they are fooling. The environmental and human destruction caused by the mining for the rare earth elements needed for the batteries is or should be unacceptable to all these liberals who claim to care about the downtrodden.
This is real and tangible climate and esg disaster to businesses.
There’s gotta be dark money somewhere with all these stupid decisions. Company after company is going woke KNOWING its a stupid financial decision…unless someone is getting kickbacks because of it.
Its not a stupid decision - if they don't move to electric they will be bankrupt soon. MANY legacy makers will go out of business in the next 5 years, the global trends are very clear: buyers WANT EVs. The fact that Tesla can sell them at a $15k profit vs Ford's $15k loss means they need to figure this out fast. Model Y is best-selling vehicle in the world by revenue and 4th overall best-selling vehicle by units sold.
bail out coming probably
It's okay, tax payers will just bail them out again.
And guaranteed, the govt. will pay them for pushing EV's with yet MORE of our printed tax dollars.
Do we have a shortform cost per unit sheet for each vehicle? Would love to read into this, especially the electric trucks.
Don't try towing anything with your electric truck.
No more fucking bailouts.
Ford didn't take a bailout. You're thinking of GM aka Government Motors
Doesn't matter they'll need one soon enough going battery power. No more bailouts for anyone
Agreed—no one is “too big to fail…”
NO BAILOUTS! zElEnSkY AND ThE UkRaInE need that money!!!
Yes, but they make it up on volume.
$3 billion loss annual also takes... ABOUT $60 BILLION off your market cap! So in theory they could be worth $60b more if they weren't involved in this boondoggle.
Hey, Tesla, somehow, became one of the biggest companies around doing this. Tesla hadn't made a profit for several years after starting up. I still don't know if they make a profit. Yet their stock price just kept climbing and climbing.
I guess losing money is the new making money? As long as you're doing for the environment?
Tesla is selling a rich man's toy. Not really different than a BMW or Mercedes in total sales possible.
Tesla turned out a 25.9% profit on automotive sales last quarter and has been insanely profitable for years. Additionally, they sell every car they produce and there’s a line to buy one. Reading earnings reports isn’t that hard. Ir.tesla.com
And by "profitable for years", you mean two, right? And it's mostly due to selling fake "carbon credits"?
They've been around for 20 years, and have made their first profit two years ago, and mainly by selling a thing that doesn't even exist, "carbon credits". Sounds like a sustainable model to me. I guess they're just waiting for when we are forced to drive battery powered cars.
Where do you get this retarded FUD? Tesla has been profitable for 3+ years, has zero debt and $22 billion in cash right now. Tesla did not invent the carbon credit scheme, they merely take advantage of it, which currently accounts for $2 billion in revs (which they sell to Ford, GM, Toyota). Meanwhile Tesla is pulling in $22.5 billion PER QUARTER off actual sales. They make $15640 gross profit PER CAR sold... which is about a $30k - $40k delta between Ford vehicles. They are expanding all 4 factories to have additional capacity; they are building two more factories this year; they are getting into lithium refinement; their car biz is growing at 50% per year and their battery storage biz is growing MUCH faster than that. They own the largest charging network which will double in size in two years. They will be first to solve full-self-driving which means they will own uber/lift/ every taxi and driving biz in the world. Cybertuck comes out this year; van next year; $25k car year after that. This is an AMERICAN car company on an absolute tear and its ok to be proud of it even if you don't personally like their cars.
It's a scam company completely built on government (taxpayer) subsidies, to counter the made up threat of man made global warming. They sell luxury toys to elitists, so they can brag about caring for the environment more than other people. For 20 years they wasted taxpayer money in their fight to make a profit. Are they ever going to pay enough taxes to pay that back? No.
Just because, African, Elon Musk was good at taking advantage of our moronic government, and they make these 20 year money losers in America, I don't have to be proud of that. I will say that I'm impressed with Elon Musk, and his ability to take advantage of our government's scheme to push fake climate change, in order to control the population, though.
QUICK WE MUST BAIL THEM OUT!!!
But wait, they can get even woker!
Almost like EV technology isn’t quite there yet, the infrastructure is shit, and they cause as many if not more environmental issues than gas vehicles. Hmmmmm.
But… we’ve been in a recession for well over a year lol
So how the fuck is Tesla making money?
Even building stuff really shit must be costing them.
Because legacy auto builds cars roughly the same way they did 100 years ago. No innovation there. Tesla is constantly reinventing the process and can pound out a car way faster. They also saw the danger in relying on a global supply chain so Telsa makes almost everything in-house, including batteries now. Including lithium soon. I encourage you to watch a Sandy Munro video. He takes apart cars and documents what he finds. Recently he found Fords have 1 mile of wiring in them more than they need. 3 years ago Sandy thought the model Y was shit; today he marvels at how they are put together. Toyota recently took apart their first Model Y and it freaked them out. They called it "a masterpiece". They were shocked by how ingenious it went together and admitted they have a lot of work to do. And then they fired their CEO...
That's bullshit. Car building these days is as automated as possible with robots doing everything a robot can do.
100 years ago cars were hand built.
Have you ever been to a car factory?
Tesla don't make their own battery cells.
The reason cars have extra wires in them is the options list. It's cheaper to build a hundred thousand wiring harnesses the same than to make 18 versions for different spec cars.
Got a source for Toyota calling the model ya masterpiece?
Tesla make the least reliable cars in the usa.
Bailout package is already in the works.
"Loosely" speaking, they have a lot to "lose".
Bold strategy, let's see if it pays out.
These mega corporations are so embedded in the government, who knows
Ford loses money for 5 years on EV as it ramps up production knowing the gov is going to mandate 75% of vehicles sold be electric?
Now their 5 year loss looks like a 5 year head start to anyone else trying to comply with government punitive regulations that are sometimes made to benefit friendly companies
Anyone with a >90 IQ can look at total production cost and see the only possible results are massive failure.
Can't sell what people can't afford, impossible battery life and disposal, mining shortfalls, environmental destruction, total available commodities, infrastructure needs, etc. Bottom line of everything leads to red ink other than as a method of destroying overall productivity and free movement of society as a whole.
Probably sell millions of them to the government using our money and throw them in a landfill in 5 years