Ford sold 70,000 EVs so far in 2024. It lost $3.7 billion – over $50,000 per vehicle
Photo above - Ford can't touch this. A $1,200 eBike which could become everyone's second car. Yes, it's made in China, not on a US assembly line where union members earn $140,000 a year.
When I vote tomorrow, I won’t be driving an EV. Not that I don’t want to. My price point is $25,000 to $30,000. Maybe $33K if I got 0% financing. There are no EVs cars like that.
I was NOT surprised to learn that sales of Ford's F150 lightning electric trucks are now close to zero. Nicely equipped, they cost around $90,000-$100,000. And Ford loses $50,000 each time a customer buys one. See links below.
Holy Lithium! No wonder Ford has cancelled plans for BOTH an EV assembly line and a new battery factory. They could go broke if this keeps up. Ford stock is at about $10 a share currently. Down 40% this year. That’s not as bad as you’d expect for a company that loses $50,000 on each EV. The profits on gasoline powered F150’s must be saving the day. No wonder the Biden administration has pulled out all the stops to keep gas prices low. Our entire auto industry could tank otherwise. And then . . . and then . . . we’d all be driving Hyundai EVs. Which cost $50,000 each, earn Hyundai a profit, and are made in non-union factories south of the Mason Dixon line. Because they aren’t unionized, Hyundai EVs don’t get the same tax rebates you get with a $90,000 Ford F150 Lightning, which actually costs $140,000 to manufacture.
If you want a TRUE look at trending transportation in America, check out the EVs at your local supermarket, library, or gym. They are eBikes, and cost $1,000 to $1,500. You can charge it in an hour or so on household current. You can take it indoors if you live in an apartment. It only goes 28 mph, but what the heck? How fast do you need to go for groceries or a gym workout? Red alert! they’re apparently all made in China. The Biden administration hasn’t discovered this yet, otherwise someone would be plotting a 100% tax on Chinese bikes, like is going to happen on Chinese cars.
One of these eBikes is probably going to be my first EV. Even I wouldn’t ride it during one of Tampa’s frequent rainstorms. And because I can take it into my apartment, it won't burst into flames and burn at 1,000 degrees Fahrenheit during the next hurricane.
I’m just saying.
Ford's ballooning EV losses indicate legacy automakers still struggling to compete
how many evs did ford sell in 2024 - Search