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Ford Reports $132K Loss Per EV Sold Amid Slumping Sales

The news about Ford Motor Company’s electric vehicle (EV) sales is making waves, and not the kind you see at the water park! Ford just reported a jaw-dropping $132,000 loss on each EV sold in the first three months of 2024.

According to the reports, Ford’s electric vehicle unit saw a 20 percent drop in sales and had to slash prices because, let’s face it, people just weren’t jumping out of their seats to buy those electric cars. The revenue for Ford’s EV darling, the Model e, took a nosedive by a whopping 84 percent to a measly $100 million. 

Ford is talking big numbers here. They’re not crying over spilled milk; they’re sobbing over a $1.3 billion loss before interest and taxes. That’s like losing a bet on every horse in the race and going home with empty pockets. The Model e is on a losing streak, having reported a full-year EBIT loss of $4.7 billion. 

Well, author and businessman Andy Puzder thinks Americans are just not feeling the electric vibe. He says Ford’s EV losses are like a nightmare – $132,000 going down the drain for every EV sold. And guess what? Ford’s profits are coming from good old combustion engine sales.

Environmentalists are also chiming in. Patrick Moore thinks this whole situation is as wobbly as a three-legged stool. The experts are calling Ford’s EV losses a “massive disaster.” 

Ford is pumping the brakes on two new electric models. They’re switching gears to hybrid vehicles instead. It’s like trying to cook spaghetti without water – sometimes you just gotta go back to the basics.

 

Written by Staff Reports

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