Ford loses $132,000 for each EV it sells. The good news is that they are not selling very many of them.
- Thread starter WVU82
- Start date
That's a pile of money. I'm guessing there is some numbers games to come up with that . Sounds like they have a Biden working for them and they will correct it sooner or later .
The ongoing issue with EVs is their overall low market share relative to their high cost. Fact remains, not as many EV owners as there are EV vehicles available, and much less demand for those that are sitting in dealer lots! Their initial costs to manufacture have not kept pace with anticipated market demand, so price drops are inevitable simply to move inventory.
The problem comes when both manufacturers and dealers attempt to recoup those costs through sales. Both on demand, and residual aftermarket sales for EV's have been underperforming relative to where those initial market prices relative to costs were set. The result is profits are being squeezed or even unrealized, now there's a mad dash to offload existing inventories before either entity incurs further losses. It's a classic story of Government trying to create demand for a product that wasn't organic, then attempting to spur demand by artificially subsidizing manufacturers and buyers who clearly are not interested!
The other problem with EVs which gets little attention in the media, is their overall expense both to maintain and service. Power supply issues, costs of power generation, battery replacements costs, as well as high end repairs are forming a vicious vortex that's killing EV sales and buyer's interest. There is a limited supply of costly one-of-a-kind replacement parts, the batteries are horribly expensive to replace, and most folks don't see the utility in higher electric bills to justify the relatively small amount of time they're actually able to drive their EVs.
It's just not working out for either builders, sellers or buyers of these expensive toys, and so sales naturally are taking a hit. Most manufactures of EVs have announced plans for phase out several lines of production, and some are shutting down production of EVs altogether!
Thanks creepy Joe for mandating no more ICE vehicles after 2035....how's that workin' out for everyone?
Who me?
The problem comes when both manufacturers and dealers attempt to recoup those costs through sales. Both on demand, and residual aftermarket sales for EV's have been underperforming relative to where those initial market prices relative to costs were set. The result is profits are being squeezed or even unrealized, now there's a mad dash to offload existing inventories before either entity incurs further losses. It's a classic story of Government trying to create demand for a product that wasn't organic, then attempting to spur demand by artificially subsidizing manufacturers and buyers who clearly are not interested!
The other problem with EVs which gets little attention in the media, is their overall expense both to maintain and service. Power supply issues, costs of power generation, battery replacements costs, as well as high end repairs are forming a vicious vortex that's killing EV sales and buyer's interest. There is a limited supply of costly one-of-a-kind replacement parts, the batteries are horribly expensive to replace, and most folks don't see the utility in higher electric bills to justify the relatively small amount of time they're actually able to drive their EVs.
It's just not working out for either builders, sellers or buyers of these expensive toys, and so sales naturally are taking a hit. Most manufactures of EVs have announced plans for phase out several lines of production, and some are shutting down production of EVs altogether!
Thanks creepy Joe for mandating no more ICE vehicles after 2035....how's that workin' out for everyone?
Who me?
