Written by by Warner Todd Huston at lidblog.com
Seriously, if you are in the market for an electric vehicle, you are either only interested in driving for a 20-mile radius around your house, or you have foolishly swallowed the lies Joe Biden and his climate change religionists are trying to sell about EVs.
One thing is sure, car makers are finally starting to realize that EVs will be the death of their industry. Not only are fewer Americans wanting them, but the extreme costs in producing them make profits a thing of fever dreams.
To wit, Ford Motors has announced that it lost a crippling $132,000 on EVERY Electric Vehicle it has sold so far this year.
You can’t be a manufacturer and continue to have loses like that. You just can’t.
If car makers don’t understand that Biden and his cabal intend EVs to be the point of the spear to destroy the car industry and make sure no one owns a private car, they really do deserve to go bankrupt.
Per Just the News:
Ford announced Wednesday losses of $1.32 billion on its Ford Model-e sector, which represents the company’s electric vehicle business. With 10,000 units sold, the company lost $132,000 on each EV it sold.
In the fourth quarter of 2023, the company sold 34,000 units in its Model-e business, which produced $1.57 billion in losses, or roughly $46,176 on each EV sold.
“The company expects EV costs to improve going forward, but be offset by top-line pressure,” the company said in a press release.
The company’s other sectors, which includes its Ford Pro fleet business and Ford Blue gas-powered and hybrid vehicle business, made up for the losses on its EV lines. Hybrid vehicles combine aspects of EVs and gas-powered engines. The company posted a net income of $1.3 billion in the first quarter, with revenues of $42.8 billion.