Ford Motor Company lost a whopping $132,000 on each electric vehicle it sold in the first quarter of 2024, reports Just the News:
Ford announced Wednesday losses of $1.32 billion on its Ford Model-e sector, which represents the company’s electric vehicle business. With 10,000 units sold, the company lost $132,000 on each EV it sold.
In the fourth quarter of 2023, the company sold 34,000 units in its Model-e business, which produced $1.57 billion in losses, or roughly $46,176 on each EV sold…..
The company’s other sectors, which includes its Ford Pro fleet business and Ford Blue gas-powered and hybrid vehicle business, made up for the losses on its EV lines. Hybrid vehicles combine aspects of EVs and gas-powered engines. The company posted a net income of $1.3 billion in the first quarter, with revenues of $42.8 billion.
The Lid says this shows the impracticality of electric cars for many Americans:
Seriously, if you are in the market for an electric vehicle, you are either only interested in driving for a 20-mile radius around your house, or you have foolishly swallowed the lies Joe Biden and his climate change religionists are trying to sell about EVs.
One thing is sure, car makers are finally starting to realize that EVs will be the death of their industry. Not only are fewer Americans wanting them, but the extreme costs in producing them make profits a thing of fever dreams.
To wit, Ford Motors has announced that it lost a crippling $132,000 on EVERY Electric Vehicle it has sold so far this year.
You can’t be a manufacturer and continue to have loses like that. You just can’t.
“Electric vehicles release more toxic particles into the atmosphere and are worse for the environment than their gas-powered counterparts,” according to a study, reports the New York Post.
As Ed Morrissey notes at Hot Air, “Thanks to the increased efficiency of internal combustion engines,” gas-powered cars’ “emissions are relatively clean. The increased weight from the massive batteries in EVs forces a significantly higher rate of erosion of tires and brakes, creating massive increases in emissions….The reaction from regulators so far suggests that the study may be accurate. The California’s Air Resources Board suggested that batteries may become lighter in the future, and that manufacturers can use lighter-weight materials on other parts of EVs to compensate” for their heavy batteries. “That, however, would mean trade-offs on safety in collisions.” Using lighter-weight materials increases traffic fatalities: The National Research Council concluded that 1,300 to 2,600 people per year died due to federal fuel economy regulations that resulted in cars being made of lighter materials and thus less protected against collisions.
Electric vehicles also require enormous damage to the environment just to produce their batteries — 250 tons of mining is required for a single battery, according to Real Clear Energy. Switching to electric cars would require a radical expansion of mining across the world, and the minerals for the car batteries will be refined mainly using the coal-powered electric grid of China, the world’s biggest emitter of greenhouse gases. Yet states are starting to mandate electric vehicles. Nine states, including California, have now decided to ban gasoline-powered cars by 2035, requiring that all cars sold be electric instead. In 2021, Virginia’s Democratic-controlled legislature passed a law adopting California standards for Virginia vehicles, so Virginia also will ban gasoline-powered cars in 2035, unless that law is repealed, as Republicans seek to do (the Republican-controlled Virginia House of Delegates voted to repeal the ban on gas-powered cars in 2023, but the Democratic-controlled Virginia state senate kept the ban in place, and Democrats regained control of the Virginia House of Delegates in the 2023 election).
If a significant fraction of motorists switch to electric vehicles, that could strain the power grid. CNBC says that when “half of all new cars sold in the U.S.” are electric vehicles, that may “put a major strain on our nation’s electric grid, an aging system built for a world that runs on fossil fuels.”
In states like California and Virginia, all new cars sold in 2035 will be electric vehicles, posing an even greater risk of straining the electric grid. As Real Clear Energy points out, the infrastructure needed for “EV fueling stations is greater than it is for” gas stations. Because EV charging takes longer than filling a gas tank, “long refueling times will translate into long lines at EV fueling stations as well as the need for five to 10 times more charging ports than fuel pumps.” Moreover, EV fueling stations will have “staggering requirements for grid infrastructure upgrades. Today roadside fuel stations have the electric demand of a 7-Eleven; but convert those to EV fueling station and every one of them will have the electric demand of a steel mill – and highways will need thousands of them.”
Electric vehicles will also place a strain on transportation infrastructure. They are much heavier than gasoline-powered vehicles. As Axlewise explains, “The average EV battery weighs about 1,000 pounds. Some batteries weigh more than 2,000 pounds. The heaviest EV battery is the Hummer EV battery, which weighs around 2,923 pounds.” One study found that electric vehicles place more than twice as much stress on roads as gas-powered vehicles. That means more cracks in the pavement.
A convoy of electric trucks could cause a bridge to collapse, even if it could handle being packed with gas-powered trucks. Last May, the Telegraph reported that the “sheer weight of electric vehicles could sink” some bridges in England.
