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Ford set to lose $4.5 billion on electric
vehicles this year, despite increased revenue

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Posted By: Beardo, 7/29/2023 11:14:44 PM

Ford Motor Company announced it is projected to lose a whopping $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion. The company released its second-quarter financial results on Thursday. The U.S.-based automaker's EV division, called "Ford Model e," has lost $1.8 billion so far this year, according to Fortune. The projected $4.5 billion loss is over twice as much as Model e's $2.1 billion loss in 2022. The company recently announced that the price of its electric F-150 Lightning pickup trucks will be reduced due to cheaper raw battery materials.

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Reply 1 - Posted by: Jethro bo 7/30/2023 12:12:18 AM (No. 1523446)
Went to a Ford dealership about a year ago. They had a Ford E150 (electric version of the famed F150 pickup). It wasn't for sell at the time just for showroom purpose. Went back a few months latter and it was still in the showroom. This was after report after report on Youtube and other reviewers eviscerated the E150. I ask if it was still for show only and was told it was for sale but they couldn't sell it. Seems in a farming community environment a reliable and economical to operate vehicle was more in demand than the latest woke truck. Ford was foolish for investing so heavily in woke vehicles. And their stock price reflects it. Upper management needs to be fired and some real world adults take over. Oh, Ford invested huge in EVs. And is losing its rears. But Ford didn't plan for the Bronco's demand which has been huge demand and Ford can't build enough of them. Talk about business idiocy!
25 people like this.

Reply 2 - Posted by: DanvilleBill 7/30/2023 12:36:53 AM (No. 1523453)
It's those darned fixed and variable costs.
7 people like this.

Reply 3 - Posted by: synchronicity 7/30/2023 12:57:53 AM (No. 1523460)
Am I missing something - wouldn't a market survey ahead of time of current Ford truck owners have tipped them off to the situation they currently find themselves in and have saved them $4.5+ billion? PS - no charge for that advice Ford.
18 people like this.

Reply 4 - Posted by: Nimby 7/30/2023 1:09:07 AM (No. 1523462)
In brief! Ford decided to wipe Bidet’s arse!!
21 people like this.

Reply 5 - Posted by: NeverVoteDem 7/30/2023 1:51:00 AM (No. 1523468)
Half the people can’t afford them. More than half don’t want them.
24 people like this.

Reply 6 - Posted by: SweetPea3 7/30/2023 4:59:09 AM (No. 1523487)
Edsel redux.
19 people like this.

Reply 7 - Posted by: 5 handicap 7/30/2023 6:05:02 AM (No. 1523501)
FTA: "Ford set to lose $4.5 billion on electric vehicles this year, despite increased revenue" GOOD, Another "woke" company goes kaput!
15 people like this.

Reply 8 - Posted by: nwcudagal 7/30/2023 7:04:33 AM (No. 1523513)
When I read the headline I figured they were just going to lose money that the taxpayers had gifted them for this folly, not their own money.
7 people like this.

Reply 9 - Posted by: franq 7/30/2023 7:21:31 AM (No. 1523519)
Hopefully the EV hysteria will pass soon. Not practical, even if forced on us by the EPA. Woke corporate culture is doomed. Wonder how they will scrap all the batteries in the unsold vehicles?
11 people like this.

Reply 10 - Posted by: texaspast 7/30/2023 7:25:55 AM (No. 1523521)
I really don't know who will want these. I'm not a farmer (grew up one, got over it) but I need a pickup to haul stuff. It's got to pull a trailer and keep me cool in the summer. Sometimes I may need it to go 500 miles in one day. Electric won't cut it. I have a F-150 supercrew cab, more room in the backseat than any sedan you can buy now, and very comfortable - but it has to work and go when I need it to. Back in 2014 (I think) I was looking at F-150s at a local dealer. They did have a new one that was surprisingly low in cost. I asked the sales guy why they priced this one so low, he said it was a 4 cyl - Ford was trying to cut fleet emission numbers. Problem was, they dang near couldn't give them away. As he put it, the only thing you could haul with the 4 cyl model would be a few bags of trash to the dump. Now the e-pu. Even if it can pull a trailer, I will bet the weight of the battery will decrease the towing capacity quite a bit and the driving range. So I figure that Ford is doing the e-truck knowing it won't sell very well, but making these will lower their overall fleet emission, which means they can sell more standard F-150s - but the price of the gas 150s will have to be higher to make up for the money Ford is losing on the e-trucks.
9 people like this.

Reply 11 - Posted by: planetgeo 7/30/2023 7:44:03 AM (No. 1523529)
I hereby trademark it as the "Ford EVsel".
12 people like this.

Reply 12 - Posted by: 3XALADY 7/30/2023 8:14:24 AM (No. 1523548)
That's not a bad thing. Stop making the fire traps.
7 people like this.

Reply 13 - Posted by: Strike3 7/30/2023 9:49:32 AM (No. 1523614)
We could have predicted this situation before Ford built their first fire bomb. What's with corporate marketing these days? Take the best-selling pickup truck in the world and remove the guts that make it what it is and replace it with an electric motor? There was obviously a lot of government pressure behind them but C'mon man, who wants a truck that goes hmmmmmmmmm. The government and the Big 3 can drive the price of gas up to $10 per gallon and stop making the cars that use gasoline and diesel fuel but Americans don't want the dadgum EV technology and you can't make us buy them because they are overpriced, stupid, inefficient and... stupid. Wait until Guv Whitmer is finished fixing Detroit, it's going to be a real jungle instead of a fake jungle.
5 people like this.

Reply 14 - Posted by: red1066 7/30/2023 11:30:28 AM (No. 1523673)
First Ford decided to stop making all cars except the Mustang. Strike one. Then they went all in on electric vehicles including the F150. Strike two. Now after making all those electric vehicles, they can't sell any of them. Strike three. Maybe they could put all those vehicles on ships and send them out to sea. I understand the salt air does wonders for electric vehicles.
6 people like this.

Reply 15 - Posted by: Ashley Brenton 7/30/2023 11:55:15 AM (No. 1523683)
Would you buy a gasoline engined car that, after everytime you filled up the gas tank the tank would hold 1% less gasoline the next time you filled it up?
5 people like this.

Reply 16 - Posted by: jalo1951 7/30/2023 2:48:59 PM (No. 1523842)
It appears that Ford and Disney elite employees are interchangeable.
1 person likes this.

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