Electric Vehicles Hit a Financial Roadblock: The Struggle for Profitability

by AutoExpert   |  26 April, 2024

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Okay, the whole EV thing is hitting a wall. Sales are kinda rising, but nobody's making the big bucks they predicted. Ford especially – they're LOSING money on every EV sold, like, billions gone. Ouch. Now they're all, "Hmm... maybe we should've kept making those cheap little cars instead of giant electric trucks?"

This ain't just Ford, though. Turns out, the EV market is brutal for profits right now. Mercedes CFO straight-up called it that after their profits tanked last quarter, and even GM was losing a ton earlier this year (though they're doing better now).

Electric Vehicles

But Ford's in a special kind of hot water. Remember when they ditched ALL their normal cars back in 2018? Fiesta, Focus, gone. They bet BIG on expensive trucks and EVs instead. Made sense when the Mach-E and electric F-150 were hot, but now... reality check.

Electric Vehicles

Here's where it gets really dumb: Ford reported losing $130,000 on EVERY EV SOLD last quarter. That's insane! And get this – their tech division for EVs saw its revenue drop by, like, 84%. The only thing keeping them afloat is that people STILL buy those old-school gas-guzzlers.

Electric Vehicles

Seriously, what were these guys thinking?! The writing's on the wall, electric cars ain't cheap, and folks NEED affordable options. Guess they'll be scrambling to bring back those little cars real soon... serves them right, honestly.

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