Ford Cuts Back EV Production Due To Lousy Sales
Ford Cuts Back EV Production Due To Lousy Sales
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Ford announced today (Aug 21) that it was trashing plans for a sizeable all-electric SUV, delaying production of its all-electric pickup truck to the second half of 2027, and will sell their existing EV products at a steep discount.
Why are they making all those changes to their EV plans? Well, sales really suck. Those delays, cancellations, and mark-downs created a need for new products in the future to replace the loss of EV plans for the automaker. Ford will “instead focus on making the SUVs as gas-electric hybrids.
Ford is not alone; General Motors and other automakers have made similar changes for the same reason.
Plus:
” The automaker also said it would realign its U.S. battery sourcing to reduce costs and boost capacity for current and future production. “An affordable electric vehicle starts with an affordable battery,” said Ford CEO Jim Farley. “If you are not competitive on battery cost, you are not competitive.”
The Ford action is another blow to the Biden/Harris EV rule of March 2024. “The EPA said that under its final rule, the industry could meet the limits if 56% of new vehicle sales are electric by 2032, along with at least 13% plug-in hybrids or other partially electric cars and more efficient gasoline-powered cars that get more miles to the gallon.”
The Biden/Harris EV rule will not only hurt corporate profits due to lower sales but will push people out of work:
“As the CEO of Ford Motor Company Jim Farley said last year, ‘electric vehicles will require 40 percent less labor to make than the typical, traditional gas-powered vehicle.’
“According to one estimate, the transition to EV production will kill about 117,000 auto jobs in the United States. Another estimate puts that number much, much higher.
It is already hitting home for some automakers and autoworkers. The owner of Chrysler laid off 1,200 employees at its Jeep plant in Illinois. Ford cut 3,000 white-collar jobs last year. The reason for the layoffs, both companies say, is the EV transition.
One reason for the lousy economy the Biden/Harris administration created was their love of the climate change hypothesis. Well, not exactly love. More likely, it’s because their far-left base believes that CO2 will melt the ice caps, throwing Earth’s entire land mass underwater. Because of the Biden/Harris’ far-left base belief in the still unproven climate change hypothesis, the Biden/Harris administration damaged a working economy to placate their far-left base.