Ford Motor Company revealed that it loses more than $100,000 for each electric vehicle it sells.
Net losses for the first quarter of fiscal year 2024 were $1.3 billion, according to CNN.
The figure totals a $132,000 loss for every EV sold during the first quarter.
“Americans don’t want EVs at levels Biden’s climate hysteria require,” wrote businessman Andy Pruzder. “Ford’s EV Q1 losses soared to $1.3 billion – a ridiculous $132,000 per EV sold. All Ford’s profits came from combustion engine vehicle sales. Collectivist policies destroy prosperity.”
Americans don’t want EVs at levels Biden’s climate hysteria require. Ford’s EV Q1 losses soared to $1.3 billion – a ridiculous $132,000 per EV sold. All Ford’s profits came from combustion engine vehicle sales. Collectivist policies destroy prosperity. https://t.co/U24fA4YHTz
— Andy Puzder (@AndyPuzder) April 25, 2024
Ford’s EV line lost $4.7 billion in 2023 and is expected to lose between $5-5.5 billion in 2024.
American Faith reported that Ford announced that it was delaying the production of two new EVs, shifting its focus to hybrid vehicle production.
Its launch of three-row electric vehicles has been delayed from 2025 to 2027, the company said in a statement.
“Preparations continue for the market launch of Ford’s all-new three-row electric vehicles at the assembly complex in Oakville, Ontario, which the company said it will re-time to 2027 from 2025,” the statement read. “The additional time will allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology, with the goal to provide customers increased durability and better value.”
Ford separately said it was also postponing its EV truck deliveries until 2026. Production was initially slated to begin in 2025.
