/biz/ - Business & Finance

>The bloodbath in Ford Motor Company’s EV division continues. On Thursday, Ford reported an operating loss of $1.3 billion in its EV division during the third quarter. That translates into a loss of $62,016 for each of the 20,962 EVs it sold during the period.

>That’s a smaller loss than the company recorded in the second quarter, when it lost $72,762 for each EV and the $66,446 it lost per EV during the first quarter. In a press release, the company said the $1.3 billion loss was “attributable to continued investment in next-generation EVs and challenging market dynamics.” It also cited “EV price pressure.” Those “market dynamics” and price pressures are resulting in knee-buckling losses.

>In its October 26 press release, Ford provided an additional comment on the EV losses, saying, “According to the company, many North America customers interested in buying EVs are unwilling to pay premiums for them over gas or hybrid vehicles, sharply compressing EV prices and profitability.” Let’s ignore why Ford is using such an odd formulation — “according to the company”?— and focus on its admission that “many” customers are unwilling to “pay premiums” for EVs.


>Of course, it’s easy to underscore the problems at Ford. But the Dearborn-based auto giant isn’t the only one feeling the EV pain. Indeed, numerous automakers are reporting major losses on EVs or are announcing cutbacks in their EV expansion plans. These moves show that the universe of likely EV buyers is far smaller than the automakers expected. That miscalculation will cost the companies, their shareholders — and taxpayers — tens of billions of dollars in wasted capital.

>The reality is that EVs have long been a niche-market product, not a mass-market one. Further, that niche market is primarily defined by class and ideology.

>>54123100
Yeah. It's just pride before the fall.

>>53910377
Will music EVER be as kino as the turn of the millennium?

https://www.youtube.com/watch?v=E1fzJ_AYajA

>>53359145
>bikefags

>>52665157
>Do you have proof
>No but fuck you nigger he is quiet so i'm right
God the meltdownie seeth has been the greatest part of this whole ordeal.

>>52538680

just chillin

What are you lads doing tonight, im just cruising around my small town listening to doomer music and college football games?


Waiting for the limit down on Black Monday.

>>51561894
I'm in the Benz on Monday, the BM on Tuesday
Range on Wednesday, Thursday I'm in the hooptay
Porsche on Friday, I do things my way
Vipe or Vette, I tear up the highway