Workers 92,000 unsold Ford electric cars piled up at dealer lots and losing 4.5 billion on E in just one single year this is nothing short of catastrophic and it will affect the entire car industry but all that just flipped CEO Jim Farley now win against electric vehicles and announced that Ford will
Double down on what the Common Man Loves affordable combustion engine cars while simultaneously shutting down production of their flakes ship EVS why are customers rejecting EVS so hard what did Ford suddenly realize that made them abandon EVs and start investing billions ions into gas powered cars again and how
Has Ford’s decision to shut down EV production completely changed GM stance as well you think you know what’s going on but trust me you have no idea how big this is once deemed Ford’s Flagship pickup the F-150 Lightning is now about to die Ford just literally pulled the
Plug from their electric truck and shocked everyone in the process get it recent announcements from the company have confirmed a major halt in the production shift for the F-150 Lightning when asked why this is happening Ford made all sorts of excuses but the real problem is low demand Ford forgot how to
Make affordable cars and wanted to position themselves as a luxury car maker and now they are facing the consequences how bad is it how does 4.5 billion bad sound digging deeper the sales figures send a chill down one’s spine in just the third quarter of 2023 F-150 Lightning sales plummeted by an
Alarming 46% this trend is isn’t an isolated incident for Ford the whole EV industry seems to be wrestling with a similar ghost production went up by 350% in 2023 but this resulted in a haunting image of approximately 92,000 unsold EVS Gathering dust on dealership floors across the country it takes 92 days on
Average to sell an EV compared to the 40-day average for combustion counterparts and most dealers don’t even want these EVS in their Lots now in a desperate attempt to stoke demand Ford slash prices on its 2023 F-150 Lightning model offering Hefty incentives and taking advantage of federal tax cuts but
Even with up to $115,000 off the sticker price there’s an undeniable sense that the Lightning’s shine is dimming but why is Ford in this crisis Garrett Nelson an analyst with cfra pointed out that there is a major disconnect between what manufacturers like Ford are trying to sell and what consumers are genuinely
Looking to buy EVS are simply not practical right now given the current charging infrastructure and range concerns and even if you were to buy one you’ll most likely end up paying a hefty sticker price on it this is not just bad for Ford but also for their unfortunate
EV workers Ford is also announcing major job cuts and layoffs despite recently letting go of nearly 700 workers building the lightning even with selling their EVS at a loss Ford wants to be seen as a startup and wants everyone to forget about their massive losses Darren Palmer the vice president of Ford was
Recently caught saying that it’s a little premature to worry about ev’s piling up in dealer Lots we are still in good demand despite their attempts to portray things in a positive light the numbers don’t lie Ford’s EV sales went down in the second quarter recent reports also suggest that Ford is
Bracing for a massive $4.5 billion loss on their EV division this year which already took a massive hit of $2.1 billion last year this is primarily due to three reasons number one is high investment costs as with any transformative shift transitioning from I to EVS requires significant investment in research development manufacturing
Infrastructure and training Ford’s commitment to this can be seen from their plan to construct a $3.5 billion battery Factory in Michigan while companies like Tesla have taken their production to cheaper places like China Ford is an American manufacturer who is having to pay high wages to the workers
As well and why shouldn’t they when they are also benefiting from the tax incentives from the government then we have bad pricing strategy in a bid to capture a large lger market share and to keep Pace with competitors Ford announced a reduction in the price of its electric F-150 Lightning pickup
Truck the price drop is attributed to cheaper raw battery materials such a move while potentially profitable in the long run can result in short-term Financial setbacks though it is also worth noting that Ford dealers are also killing their profits by marking up their vehicles and not selling them and
I’m not talking about small markups imagine 5 to8 grand on every EV sold more on that towards the end of the video establishing a strong foothold in the EV Market is crucial for long-term sustainability as CFO John Lawler pointed out startups in the EV space often encounter losses as they grow
Their capabilities and market share being a legacy automaker Ford might be leveraging its established reputation while absorbing these losses as they innovate but if they won’t sell I’m afraid they won’t be able to survive too long on brand image alone amidst the shift towards EVS Ford has finally
Recognized that there’s still a strong demand for gas powered vehicles Jim Farley Ford CEO recently discussed the ongoing debate between electric and gas cars Ford has announced a collaboration with Al maral energy storage which will provide lithium hydroxide for batteries with the aim to support the manufacturer
Of 3 million EVS between 2026 and 2030 however this doesn’t mean the company is sidelining its traditional IC Vehicles Ford blue the division dedicated to internal combustion engines and Hybrid models has massive plans to grow supporting this statement Ford blue president Kumar gutra revealed plans to increase the production of its models by
160,000 vehicles within the next 10 months parallel to Ford GM has also reaffirmed its commitment to internal combustion engine Vehicles even as they ramp up their EV Investments GM has announced an investment of over $2 billion this year in new full-size trucks SUVs and a new generation of V8
Engines Ford has made structural changes distinguishing between Ford blue for IC and Hybrid models and Model E for EVS exclusively Jim Farley noted the continued importance of combustion engines in the US market especially for larger Vehicles while EVS are the future there is a current market reality that supports the continued production and
Development of gas and diesel vehicles emphasizing that they remain profitable particularly for trucks and SUVs even though people aren’t buying EVS Banning internal combustion engine vehicles and mandating a rap and transition to electric vehicles is a topic of significant debate in the automotive industry among polic polic makers and
The general public as per Ford’s Top Executives IC engines are far from being dead Ford USA’s VP said propulsion isn’t going to be as binary as folks thought it’s shocking how many different propulsion systems there are between pure IC and pure be Ford is number three in hybrid sales behind Toyota and Honda
Indicating that there’s still significant market demand for hybrid vehicles reducing the number of variants in vehicle production as demonstrated by Ford’s decision to reduce the F-150s variance can stream Line Manufacturing improve quality and reduce cycle time plus cost Banning Icees could counteract these efficiency gains if it pushes
Companies to produce a wide array of EV variations without proper supply chain adjustments by Banning Icees companies might face new unforeseen supply chain challenges as they try to Source EV specific components this is because the majority of these resources come from China and it’s definitely not a wise
Choice to put such a power in the hands of a country like China Jim Farley is not alone in this Jeep CEO also recently warned the industry of serious social problems if ice were to get banned by 2035 calling the IC ban outright stupid his main concern is the lack of
Affordability of electric vehicles which might exclude the middle class from vehicle ownership BMW and Mercedes CEOs also call the ice ban a big mistake and are currently working on some radically new technologies like hydrogen and ammonia fuel cells which will help them reduce prices and potentially offer more
Choice to Consumers Ford has strongly the sentiment that IC will not be going anywhere anytime soon they are now going to focus on internal combustion engines combined with hybrid powertrains popular models that are coming out with new updates and stronger hybrid systems include the Maverick the Ranger and the
Explorer Hybrid with Ford abruptly shutting down EV production including the halt of their best-selling F-150 Lightning the automotive world is in absolute turmoil Ford’s massive gamble into the electric world is seemingly imploding but is it too late for Ford to understand what buyers really want better late than never the main concern
Is maybe we’ve all jumped the gun on electric vehicles too soon Jim Farley is going against the industry Trend and only time will tell what the future holds for Ford do you think combustion engines should be banned and tell me are EVS a scam let me know in the comments
Below we just uploaded a video about groundbreaking news that could hurt the entire EV industry do check it out if you want to be truly shocked by what’s about to happen with EVS
