"Ford to lose $4.5 billion this year on EVs", EV sales down, plans to expand EV production

Ford's CEO says the company will be producing 600,000 a year by the end of next year, and a staggering two million cars a year a year or so later.

Wokie Democrat: "Yay!!! We need more of doze totally non-polluting EVs, jus' like Dear Leader say!"

So how well are they selling?  What a silly question!  Dey sellin' like crazy, citizen!  Last year Ford sold 61,575 of 'em!

Wokie Democrat: "Dat faaabulous!  Dat prove Dear Leader wuz right dat we don' need no stinkin' oil or gasoline!  EVs gon' save duh planet from Global Warming, jus' like Dear Leader and his faabulous Sec of Energy, the delightful Jennifer Granholm, said!  Yay!!!"

Let's see here: 61,575 EVs for 2022 is about 5,130 a month.  So now, after another year of fawning praise of EVs by the media, and with almost all car ads on every channel showing how faaabulous EVs are, surely the public must be buying a lot MORE this year, eh?  So how are sales going this year?

Well in February Ford sold 3,624 EVs, or about 30% *below* last year's pace.  At that rate Ford will be lucky to sell 50,000 for this year.  

But the CEO said they were shooting for a production rate of 600,000 cars a year by the end of next year, or 50,000 per MONTH!

So unless the biden regime outlaws the sale of gasoline-powered cars, if Ford is selling, say, 6,000 a month by the end of next year, does anyone really think they'll really be making 50,000 a month by that time?

Maybe Democrats and Wall Street do, but it seems highly unlikely--in which case you might think they'd back off on those plans to make 600,000 a year by the end of 2024 year, eh?  Nah, cuz by committing to make so many EVs the CEO shows how "woke" he and his company are--and the more the regime likes him.

Comments to the article were...interesting:   

*You’d think easy access to information by both execs and consumers would have prevented the EV craze from even starting.  But the Global Warmies and communists have decreed that this is what you'll do, and corporate execs are all "woke" and will do whatever the regime orders.

*Easier access to information just makes it easier to manipulate people.

*Once our expectations for our lives have been sufficiently lowered (by propaganda), electric vehicles will satisfy our needs perfectly. Just no more 1,000 mile drives to visit your kids.  Easy.

*The “greenies”/warmies want us to lower our expectations, which is the easiest way to reduce demand.  Soon they'll limit you to one round-trip commercial jet flight a year.  Then one every two years.  And most people will welcome it because the government will have convince them we need to do it to save the climate!  It’s horseshit re-labeled as progress.

Ford CEO said, "The near-term pace of EV adoption will be a little slower than expected, which is going to benefit early movers like Ford.”  
    Nonsense.  "Early movers" just do the research for companies that jump in years later.  Ford is spending billions because their stupid execs are "wokies" who do what the government wants--because that gets them $9 Billion in "loan guarantees" for things like battery plants.
    
*Everything the CEO said is bullshit, but the Media will cream themselves because he's saying what the biden regime wants him to say.

*The numbers don’t add up.  The CEO says the company will be able to make 600,000 EVs a year by the end of this year--but they only sold 3,700 in Feb.  So let's assuming Feb is a slow month, and assume they sell 5,000 per month for the rest of the year.  That would be 30,000 for the rest of the year, and perhaps 50,000 for the whole year--or less than 10% of their end-of-year capacity. No wonder they’re losing so much money.

*Look at Ford's investment in EV-truck-maker Rivian, where the trucks cost far more to make than the insanely high sticker price.

*If gas and diesel are outlawed, EVERYTHING in rural Amerika will slow to a crawl. So do we sit back and let the WEF unelected bureaucrats kill us, or do we fight back?

*Communist regimes realized they could win support by seizing all the food from farmers to feed hordes of city dwellers.  Stalin did that in the Ukraine and millions starved.  Worked in the USSR and China, bound to work here.
   Pol Pot reversed the trick, forcing everyone in the cities to the countryside.  But they didn't know how to farm, and the communist cadre didn't either, and were lousy teachers in any case.  Same result: mass starvation.  Works to cement control.

*Our totalitarian government (which it has most certainly become) will soon make piston-engine vehicles illegal, regardless of the opposition from rural consumers.  We used to have a way to make our reps respond to our concerns, but stolen elections ended that.
    Soon the Dems will enact digital currency.  Overnight, paper currency will be outlawed. Once that's done, you will only be able to buy things the government allows you to buy, simply because your digital currency won't work for anything else.
   Your digital money will only work for the purchase of electric vehicles.  Same for trying to buy gasoline (if you can find it) for your old, worn-out car.  Using cash will be a crime. Welcome to the new Amerika.

*For accurate info on climate try the "WattsUpWithThat" website.  All thoroughly documented with references and links.

*City-dwellers (mostly Democrats) will be fine with EVs.  But outside the cities few people are willing to spend scarce money on an EV.  Instead people buy them to show their virtue.

*Like all corporate CEO's Ford’s CEO and the board have chosen to spend billions to build electric vehicles (mainly cars).  Why?  Authors will be arguing about this for decades, but there are three plausible explanations:
  1. Make more money selling EVs than gas ones;
  2. To curry favor with the biden regime, thru its lackey agency the EPA;
  3. To show the Leftists and enviro watermelons that the company is totally "woke" when it comes to Global Warming;

#1 seems unlikely: dividing total costs for their EV venture by the number of cars sold shows that the company lost an average of $32,000 per vehicle.  Of course much of this loss is due to one-time costs.  Without taking hours to determine which line items are non-recurring, let's suppose production costs plus overhead run around $40,000 per vehicle.  If the company can selling 'em for $50k, that's a gross profit of $10K per car.

In that case if they sold, say, 10,000 cars a year, they'd recover this year's $3B loss on EVs in, oh, 30 years or so.

Of course if duh Democrats outlaw gas and diesel private autos, sales would skyrocket.

Wait, would the Dems actually try that?  Spoiler: California has already passed a LAW that will make it illegal to sell gas-powered cars in that state as of 2035.

Democrats: "NOooo!  Dat not possible!  Dat not true!  Dat fake newz!"

Certainly it's hard to believe.  But it's true.

*In the 2nd quarter of this year Ford lost $32,000 on each EV they sold.  I guess they’ve adopted a policy of “Sure, we lose money on each one but we'll make up for it in volume.”