Ford lost tens of thousands of dollars per electric vehicle sold in the first quarter of 2023, as the division remained on track for roughly $3 billion in yearly losses, according to the company’s Tuesday evening earnings report.
Ford’s electric vehicle division — which was separated from its traditional gas and professional-grade vehicle departments in a late March reorganization — lost $722 million in the first three months of 2023, while selling just 12,000 units, according to the company’s first quarter earnings report. This amounts to a roughly $60,167 loss for each vehicle sold, according to calculations made by the Daily Caller News Foundation.
“Because the auto industry is very capital intensive and has high fixed costs that need to be spread out over thousands of units, it is not uncommon to have steep losses initially which are followed by profits,” Heritage Foundation economist E.J. Antoni told the Daily Caller News Foundation. “Imagine, for instance, needing to retool a factory and rebuild an assembly line to build different vehicles. That is much more expensive than the revenue from the first few vehicles that are produced.”
Bullshht !!! They made $60,000 per vehicle (called Mark-up )
That is totally a lie. They make at least 40,000 on a new gas powered vehicle so they are making at least that much plus on a new EV since they are using CHINESE parts. Also they can’t deny that, since they receive `thousands of dollars in kick backs from the MANUFACTUER on how many they sell of what model , how many they sell in a month and several hundreds in rebates.Must I go on? The DEALER keep all these monies for them selves instead of passing it on to the consumer. If they can give 23,000 rebates then the dealer is getting that amount for themselves. Hope they all close up just for cheating the PUBLIC
Biggest Rip Off Business in America > Selling Vehicles !!!!!!!