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Ford cancels EV battery orders as losses widen to $130,000 per vehicle sold
(www.notebookcheck.net)
this post was submitted on 13 May 2024
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[Dormant] Electric Vehicles
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Agreed, and the proper response here is to increase volumes to amortize the costs across more units, not cut back production.
Unless your goal is to take a loss and write off your taxes for the construction costs of the new factories, only to increase production next year.
I think the problem for Ford is that they bet on economic improvements that didn’t manifest. Both their current EVs are “premium” models, and that market is tapped, especially with new car loans costing 8%, and people can’t afford housing and groceries and a car payment.
Lightly used MachEs sell well at $25k. Which tells you that there is a price point for a new Focus electric. F150s are work trucks, not status vehicles, so more XL trims and fewer platinums, or better yet electric mavericks and rangers.
They should make a Lincoln MK Lightning if they want the truck to stay premium, but aim Fords to the working class like always and price them accordingly.