Was a longtime Ford Salesman and these stunning losses are testimony to the folly of these electrics and the folks in the Glass House have lost their minds.. Ok, if someone wishes to purchase one then I have no problem with that but trying to force the country to buy them and eliminating petroleum powered vehicles is ideological delusion.
The WSJ recently quoted Elon Musk as saying “ We need triple the electric generation” to power EV’s AI and so much else. Musk’s numbers check pretty close to EIA and LLNL info which show a steady 100 Quad’s of Primary energy use for over two decades. Electricity generation typically uses 37% of Primary energy, thus confirming Musk statement. My blog thoughts on Primary energy requirement is here: http://dickstormprobizblog.org/2022/07/04/american-dream-100-quadrillion-btus/
I am no fan of electric vehicles, but I cannot help but wonder what the prices will be in 10 or 15 years? Will we see the same learning curve demonstrated by personal computers or cell phones? In theory, that should happen. But will the supply chain and mineral availability allow it to happen?
In a perfect world, the government would stop using carrots and sticks to control my purchasing habits. Greta may think this is just fine, but I would point out that I am the one that votes in America. She doesn't.
Why and how did Ford go from losing $66k for every EV sold in Q1 to losing almost $73k per vehicle in Q2? Because now the federal government is paying automakers in advance for making idiotic decisions rather than bailing them out afterwards.
Fully plug in battery EVs are going to end up same as the curly vac fluorescent bulbs.
Govt trying to pick a winner and failing miserably, and creating a toxic mess in the process.
I agree with others that the hybrid is the winner, even a plug in variety that works with standard 120v circuit for trickle charge, because it works, magnitudes less mineral mining and processing, no need to triple the grid when we can't even make the exiting one reliable.
I'm waiting to see the choices of the new Toyota ceo... I'm also aware that Toyota is still a hybrid solution fan! But these new heads might be infected with the EV malware!
Is the point of this to say that EVs are bad? It seems a stretch to make that point based on one quarters performance at one company.
Is the point to complain about crony capitalism? While it’s problematic that they’re getting massive taxpayer subsidies, that is nothing new - that’s just how stuff gets done in America. I’ll grant that EVs are a money losing business for Ford today , but they are investing in EVs because their shareholders want them to., and because their competitors are too. Also, it’s normal to have big operating losses when you’re ramping up production of a new product line
“Because shareholders want them to.” That would not be a true statement. I and many others as shareholders have no say in what Ford produces. If you mean large institutional shareholders with influence I might agree.
The crux of the article is to point out the folley of government picking winners and losers long term. The single quarter results is the obvious example of this poor choice. The cars piling up in lots is more tangible evidence that the money taxpayer’s are giving Ford is simply a wealth transfer with no benefit to most consumers.
I'm a Ford gal from WAY back. I currently have an 85 Bronco 2, 95 Bronco, 93 F150; husband has a work 06 F350 and we recently bought a F450 (retirement truck to pull a 5th wheel.)
If I were a stockholder, what I would be raising hell about...they're investing in EVs but NOT getting an IN DEMAND Bronco on the lots. Most EVERY Bronco on a lot was ordered and sold at a $5-15k premium BACK to the dealerships. I saw a Raptor at a dealership recently. The sticker was bad enough but there was a $25k PREMIUM, over MSRP, on the car!
I WANT one but am not willing to pay that. I want to order a specific package but have to HOPE to be able to order it in a two day "open" to order. Most slots will be grabbed by those who are playing the game.
IMO this is something a smart law firm should be showing to the investors.
Ford is bowing to the ESG goons these days. They are afraid of any backlash except that of their small share holders and buyers.
EVs have problems. 1 research a bit- where are the raw materials for battery production sourced? 2 Does the grid in most states currently have the capacity to charge EVs if 1 in say 10 households has one? 3 Fires are mostly due to negligence but when an EV catches on fire it burns fiercely and is almost impossible to extinguish. 4 There currently isn’t the infrastructure in most towns and cities to support EV charging, and charging takes MUCH longer than filling up.
Hybrids are a much better intermediate solution than EVs. My brother has owned a Prius hybrid for what, a decade? It’s a fantastic little car. Many smart features, very economical, reliable and the battery is charged while you drive.
Can the cry for government bailouts be far behind?
“They don’t think we know but I know that you do” Rich men north of Richmond.
Story tip
https://globalnews.ca/news/9875106/alberta-pause-renewable-energy-citing-rural-concerns/amp/
6month hold, and much tougher rules for renewables
About time
Thanks. Very timely for a piece I'm publishing tomorrow.
Was a longtime Ford Salesman and these stunning losses are testimony to the folly of these electrics and the folks in the Glass House have lost their minds.. Ok, if someone wishes to purchase one then I have no problem with that but trying to force the country to buy them and eliminating petroleum powered vehicles is ideological delusion.
Great piece 🙏🙏
The WSJ recently quoted Elon Musk as saying “ We need triple the electric generation” to power EV’s AI and so much else. Musk’s numbers check pretty close to EIA and LLNL info which show a steady 100 Quad’s of Primary energy use for over two decades. Electricity generation typically uses 37% of Primary energy, thus confirming Musk statement. My blog thoughts on Primary energy requirement is here: http://dickstormprobizblog.org/2022/07/04/american-dream-100-quadrillion-btus/
I am no fan of electric vehicles, but I cannot help but wonder what the prices will be in 10 or 15 years? Will we see the same learning curve demonstrated by personal computers or cell phones? In theory, that should happen. But will the supply chain and mineral availability allow it to happen?
Good article. Ok so what is Tesla doing right as a comparison? Tesla invested in a charging network because they know that is resistance.
In a perfect world, the government would stop using carrots and sticks to control my purchasing habits. Greta may think this is just fine, but I would point out that I am the one that votes in America. She doesn't.
Why and how did Ford go from losing $66k for every EV sold in Q1 to losing almost $73k per vehicle in Q2? Because now the federal government is paying automakers in advance for making idiotic decisions rather than bailing them out afterwards.
The laws of physics and economics do not yield to ideology.
You gotta lose a Mercedes with each one of these things to learn that the hard way.
First vehicle choice is ICE, second is plug-in hybrid, third choice is taking the bus!
“We’ll make it up in volume”.
🤣🤣🤣
Ford Lightning EV pickup was found to be efficient in hauling leaves and Styrofoam
🤣🤣🤣
I don’t believe it’s that useful
🤣
For more laughs see :
Hauling Decreases Ford F-150 EV Pick-up Range By 25 %
https://tucoschild.substack.com/p/hauling-decreases-ford-f-150-ev-pick
I know
Its like insurance., absolutely wonderful stuff, but if you actually use it the penalties are massive.
Dat true.
Note that the energy density of lithium battery is less than wood, so you need a shite ton to get any range out of these lame EVs.
Fully plug in battery EVs are going to end up same as the curly vac fluorescent bulbs.
Govt trying to pick a winner and failing miserably, and creating a toxic mess in the process.
I agree with others that the hybrid is the winner, even a plug in variety that works with standard 120v circuit for trickle charge, because it works, magnitudes less mineral mining and processing, no need to triple the grid when we can't even make the exiting one reliable.
The problems of ICE vehicles is not the Carbon emissions since Carbon is not causing climate change.
Indeed the hybrid is the best choice - at least currently - since it can reduce the consumption of fuel greatly.
Agreed.
You basically distilled it down to it's essence.
Don't worry... They will get that and more via STATE and FEDERAL subsidies!
Toyota has the right strategy. Plug-in hybrids and hybrids will win out, using a fraction of the technical metals that must be mined for batteries.
Toyota is also betting in a new car battery tech... We need to wait and see the end result. If it works they will most likely go into the EV mania.
Scroll down this Toyota ad. It might change your mind.
https://www.toyota.com/electrified-vehicles/
I'm waiting to see the choices of the new Toyota ceo... I'm also aware that Toyota is still a hybrid solution fan! But these new heads might be infected with the EV malware!
Is the point of this to say that EVs are bad? It seems a stretch to make that point based on one quarters performance at one company.
Is the point to complain about crony capitalism? While it’s problematic that they’re getting massive taxpayer subsidies, that is nothing new - that’s just how stuff gets done in America. I’ll grant that EVs are a money losing business for Ford today , but they are investing in EVs because their shareholders want them to., and because their competitors are too. Also, it’s normal to have big operating losses when you’re ramping up production of a new product line
Ford is not investing in EVs because their shareholders want it, except for the big institutional ones that are all ESG nonsense all the time.
Their customers clearly don’t want them.
This is exactly top down direction based on dubious assumptions and like all such instances in the past will fail.
“Because shareholders want them to.” That would not be a true statement. I and many others as shareholders have no say in what Ford produces. If you mean large institutional shareholders with influence I might agree.
The crux of the article is to point out the folley of government picking winners and losers long term. The single quarter results is the obvious example of this poor choice. The cars piling up in lots is more tangible evidence that the money taxpayer’s are giving Ford is simply a wealth transfer with no benefit to most consumers.
I'm a Ford gal from WAY back. I currently have an 85 Bronco 2, 95 Bronco, 93 F150; husband has a work 06 F350 and we recently bought a F450 (retirement truck to pull a 5th wheel.)
If I were a stockholder, what I would be raising hell about...they're investing in EVs but NOT getting an IN DEMAND Bronco on the lots. Most EVERY Bronco on a lot was ordered and sold at a $5-15k premium BACK to the dealerships. I saw a Raptor at a dealership recently. The sticker was bad enough but there was a $25k PREMIUM, over MSRP, on the car!
I WANT one but am not willing to pay that. I want to order a specific package but have to HOPE to be able to order it in a two day "open" to order. Most slots will be grabbed by those who are playing the game.
IMO this is something a smart law firm should be showing to the investors.
Ford is bowing to the ESG goons these days. They are afraid of any backlash except that of their small share holders and buyers.
EVs have problems. 1 research a bit- where are the raw materials for battery production sourced? 2 Does the grid in most states currently have the capacity to charge EVs if 1 in say 10 households has one? 3 Fires are mostly due to negligence but when an EV catches on fire it burns fiercely and is almost impossible to extinguish. 4 There currently isn’t the infrastructure in most towns and cities to support EV charging, and charging takes MUCH longer than filling up.
Hybrids are a much better intermediate solution than EVs. My brother has owned a Prius hybrid for what, a decade? It’s a fantastic little car. Many smart features, very economical, reliable and the battery is charged while you drive.