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Ford CFO: Electrics Are for the Rich

Barack Obama and his twin, former Michigan governor Jennifer Granholm, say that electric cars are the future and they have tried to nudge their acceptance with $7,500 buyer subsidies. But the evidence is that electrical are expensive, third-car playthings for the Left Coast rich, meaning that $7,500 will mostly go to our progressive planners' wealthy friends.

At the Geneva Auto Show this week, Ford chief financial officer Lewis Booth confirmed that “sales projections . . . for electric vehicles are very ambitious because I am not sure how customers are going to be able to afford to pay.”

Geneva, like the Detroit Auto Show, is overloaded with electrics. But with hybrids achieving less than 3 percent of the U.S. market after a decade of hype, automakers are expressing concern that money-losing electrics are not the nirvana pols have promised.

Booth raised concerns about green vehicles’ viability without state help this week, reports the U.K.’s Telegraph. It's worth noting that Ford, led by self-proclaimed environmentalist and chairman, Bill Ford, Jr., fancies itself a global green leader.

"Electric vehicles at the moment are still very expensive and have limitations. There is a question mark about how long governments can subsidize vehicles when they are under so much pressure from other funding issues,” he said. “The customer is going to decide and we want to satisfy all customers, not just rich customers."

With governments in Europe strapped for cash, the subsidy model is unsustainable, in other words. Yet, perversely, Europe is the model that Obama and Granholm want to follow.

Henry Payne

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Ford CFO: Electrics Are for the Rich

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