Those 2022 Model E losses more than doubled unit losses from 2021, Ford says

[Royce Peterson]

https://www.cnbc.com/2023/03/23/ford-2022-unit-financials.html?fbclid=IwAR0YZ7SiYME-meVEqlmOsRaJfgL-IbKvLaMD1v1ivEKrQTCmEQ_67i3fylo

[Coralsnake]

I am not a math major, but does Ford realize they are going broke?

Maybe one less DEI Director and one more accountant?

[Jim Herrud]

They lost $3 billion for their EV unit, but earned $7 billion in the ICE group and $6 billion on their fleet business.

They said the '22 loss was expected and akin to startup investment costs. Their losses are mounting from '20 and '21 due to ramping up production and will continue to increase for a few years while they continue their EV build-out. So far, all expected results.

[98SVT - was 06GT]

Keep those ICE cars. People aren't buying the EV hype. They are seeing that after 5-6 years the car will be junked due to battery cost. CA is now working on a plan to ban .......

Working toward the 2040 ban on new diesel and gas trucks, the proposal has other deadlines for phasing in new sales, varying based on the type of truck.

Drayage trucks — used largely to transport cargo from ports and railways — would have the strictest timeline. New models would be zero-emission in 2024, while diesel and gas drayage trucks must retire after 18 years to guarantee that they meet a zero-emission requirement by 2035.

In addition, half of all new trucks purchased by state and local governments would be zero-emission in 2024, increasing to 100% by 2027.

[FL SAAC]

Not only Ford but the whole economy is in a very challenging situation

[Side-Oilers]

After looking at toady's ICE vs EV situation, let's jump ahead in time and see what's on the roads in a year when all the states' laws are in effect, and the car companies aren't producing many/any ICE vehicles.  So, say, in 2030.

Right now: Each new EV sold in 2023 has an average usable life of (estimated) 8-10 years MAX before the battery is unusable. Yes, technology advances will continue to improve, but what happens to the typical third, fourth, fifth, etc owner of EV vehicles? The people who are basic gardeners/home repair owner-operators, as well as millions of low income families, students, old people, etc., that rely on cheap used cars that will require some tinkering work (not a $15,000 battery replacement) to keep running to 300,000 miles or more.

Today, while you're out and about, count the number of such types of vehicles you see. Unless you live in Beverly Hills, it will be a lot. 

These are vehicles where a trip to the auto parts store for a couple hundred dollars or so in parts, and a Saturday's effort of fixing the thing in your driveway, is what it takes to repair the old steed. Then, saddle-up for more cheap-to-operate miles.

But, how well do EVs fit into that part of America's demographic that can only afford high-mile car/trucks? In the long run: Awful.

What are these people going to be able to do? They clearly can't afford a new, or even a several-year-old, EV.

There won't likely be many 10-year-old EVs. Definitely NO 20-year-old EVs.

Meanwhile, their old ICE cars are going to age-out/rust-away at some point.

And you sure as hell can't affordably (or otherwise) fix the old EVs.

In short, these people are going to be screwed.

How is that a good thing? 

How, by any form of gov't proclamation (short of free EVs for all) is that unavoidable?  (Tongue firmly in cheek.)

This entire Ponzi scheme is going to blow-up.  Average and poor citizens will be the main victims.  Actually, it will damage the entire economy.

Why can't any politician figure that out?   Shouldn't even rampant corruption have to make way for common sense at some point...like when the sh!t is hitting the proverbial fan?

   

[TOBKOB]

When is the last time you saw a  politician really interested in common folks except to try to get their vote? 

TOB

[deathsled]

Not only Ford but the whole economy is in a very challenging situation

"Go you know the thing...well anyway."