{"id":2244075,"date":"2024-05-14T09:26:02","date_gmt":"2024-05-14T13:26:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/go-woke-go-broke-ford-announces-mind-bogglingly-huge-losses-on-each-ev-sold-in-2024\/"},"modified":"2024-05-14T09:29:10","modified_gmt":"2024-05-14T13:29:10","slug":"go-woke-go-broke-ford-announces-mind-bogglingly-huge-losses-on-each-ev-sold-in-2024","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/go-woke-go-broke-ford-announces-mind-bogglingly-huge-losses-on-each-ev-sold-in-2024\/","title":{"rendered":"Embracing Wokeness, Facing Financial Drain: Ford Reports Massive Losses on Every EV Sale by 2024"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgo-woke-go-broke-ford-announces-mind-bogglingly-huge-losses-on-each-ev-sold-in-2024%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2244075&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Ford&#8217;s attempt to boost revenue through electric vehicle (EV)\u2062 production has backfired in 2024. With plummeting EV market demand, Ford is slashing orders to manage mounting losses. \u2063The company faces over $100,000 \u2062losses per EV sale according to\u2062 Bloomberg reports. Ford is restructuring its\u2064 EV strategy, cutting costs, and focusing on smaller, affordable EV models to turn the tide. In 2024, Ford&#8217;s EV production strategy \u200bhas failed, leading to significant losses per \u2063vehicle sale. With\u2062 a\u2063 declining EV market, \u2062Ford is reducing orders to \u2062mitigate financial setbacks. To counter this, Ford is revamping its\u2062 approach by emphasizing cost reduction\u200d and prioritizing smaller, more affordable EV \u2064models.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>  <\/p>\n<h2>Go Woke, Go Broke: Ford Announces Mind-Bogglingly Huge Losses on Each EV Sold in 2024<\/h2>\n<p> <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/aaltomari\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/aaltomari\/%20\"><span>Anthony Altomari<\/span><\/a> <\/span> <span>   May 14, 2024 at 5:36am <\/span> <\/span>  <\/header>\n<section>\n<p>Ford\u2019s attempt to electrify its revenue through electric vehicle production has been a swing and a miss.<\/p>\n<p>In response to the decreasing market for EVs, Ford has begun cutting orders from its battery supplies, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-10\/ford-cuts-battery-orders-as-ev-losses-top-100-000-per-car\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<p>Even though this changeup will be beneficial in the long run, Ford will not come out of its EV experiment unscathed. Sources told Bloomberg that Ford lost over $100,000 per <a href=\"https:\/\/www.westernjournal.com\/americans-send-biden-unmistakable-reality-check-electric-vehicle-push-new-poll\/\" target=\"_blank\" rel=\"noopener\">EV<\/a> in the first quarter of 2024, more than double its deficit from last year.<\/p>\n<p>The news comes as the EV market across the country has taken a hit in 2024. <a href=\"https:\/\/apnews.com\/article\/auto-sales-strong-electric-vehicle-sales-slow-70a663fbc0719ebda7a4ca814c2827d2\" target=\"_blank\" rel=\"noopener\">The Associated Press<\/a> reported last month that sales of electric vehicles only grew at 3.3 percent during the first quarter of this year, a sharp decrease from the 47 percent growth seen last year.<\/p>\n<p>The EV share of total U.S. sales also fell year over year from 7.6 percent to 7.15 percent in the first quarter. The declining sales numbers support some automakers\u2019 belief that they moved too aggressively in expanding their EV production, the AP reported.<\/p>\n<p>Given the state of the EV market, <a href=\"https:\/\/www.westernjournal.com\/new-report-shows-fords-electric-vehicle-efforts-costing-company-unthinkable-amount-profit\/\" target=\"_blank\" rel=\"noopener\">Ford<\/a> is trying to reinvent its EV strategy. The American automaker has decided to reduce its spending on battery-powered models by $12 billion, Bloomberg reported.<\/p>\n<p>Ford\u2019s already forecast it will lose up to $5.5 billion from EVs alone this year.<\/p>\n<p>Bloomberg reported that Ford CEO Jim Farley recently said Ford\u2019s EV division, known as Model e, \u201cis the main drag on the whole company right now.\u201d<\/p>\n<p>The company has taken several measures to try and remain competitive with the EV market king, Tesla.<\/p>\n<div id=\"firefly-poll-container\">\n<p>If you could buy the exact same car at the exact same price, would you pick gas or electric?<\/p>\n<\/p><\/div>\n<p>\u201cWe\u2019ve seen prices coming down quite dramatically and that\u2019s why we haven\u2019t been able to keep up from a cost reduction standpoint,\u201d Ford\u2019s CFO John Lawler told analysts April 24 on the company\u2019s earnings call, according to Bloomberg. \u201cBut we\u2019re targeting to take out as much cost this year as we can on Model e and all in the spirit of driving toward that contribution margin positive.\u201d<\/p>\n<p>Ford\u2019s shifted its focus toward producing smaller, more affordable EVs. The company is fast-tracking the release new EV models it expects to debut in 2026. The models will reportedly start at $25,000.<\/p>\n<p>Farley said he expects that these new EVs will be able to turn a profit in their first year, according to Bloomberg. If all goes to plan, the price-cutting move could serve to make Ford one of the biggest players in the EV market.<\/p>\n<p>Despite the optimism for the future, Ford\u2019s present serves as a cautionary tale of\u00a0 the pitfalls of trying to jump the market.<\/p>\n<p>When Ford announced two years ago that it was splitting its business into two divisions, with the Model e division focusing on EVs and the Ford Blue division focusing on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/postal-service-buys-nearly-10000-electric-vehicles-as-biden-pushes-for-electrified-federal-fleet\/\" title=\"Postal Service Buys Nearly 10,000 Electric Vehicles As Biden Pushes For Electrified Federal Fleet\">traditional internal combustion vehicles<\/a>, the company envisioned that it was on the verge of something great.<\/p>\n<p>\u201cFord Model e will be Ford\u2019s center of innovation and growth, a team of the world\u2019s best software, electrical and automotive talent turned loose to create truly incredible electric vehicles and digital experiences for new generations of Ford customers,\u201d Farley said in a March 2, 2022, <a href=\"https:\/\/media.ford.com\/content\/fordmedia\/fna\/us\/en\/news\/2022\/03\/02\/ford-accelerating-transformation.html\" target=\"_blank\" rel=\"noopener\">news release<\/a>.<\/p>\n<p>Whether Ford was trying to win over the climate-conscious crowd, or executives thought it was truly in company\u2019s best interest, the Model e experiment has been a failure thus far.<\/p>\n<p>Simply put, the EV demand simply isn\u2019t enough for traditional automakers to justify shifting their production from <a href=\"https:\/\/www.westernjournal.com\/revealed-biden-taken-200-actions-increase-gas-prices-highlight-top-3\/\" target=\"_blank\" rel=\"noopener\">gas-powered<\/a> to electric.<\/p>\n<p>And, up until the recent decision to cut prices, Ford\u2019s EV offerings have been quite pricey.  <a href=\"https:\/\/www.ford.com\/finder\/2024\/mach-e\" target=\"_blank\" rel=\"noopener\">Ford\u2019s<\/a> website lists its electric version of the classic Mustang, the Mustang Mach-E, starting at just under $40,000.<\/p>\n<p>The cheapest version of its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tesla-is-pouring-1-billion-into-its-texas-based-gigafactory\/\" title=\"Tesla Is Pouring  Billion Into Its Texas-Based \u2018Gigafactory\u2019\">electric pickup truck<\/a>, the F-150 Lighting, starts at a whopping $62,995, according to <a href=\"https:\/\/www.ford.com\/finder\/2024\/f150-lightning?intcmp=vhpOverview-singleStat-vft\" target=\"_blank\" rel=\"noopener\">Ford\u2019s<\/a> website. By comparison, a traditional F-150 <a href=\"https:\/\/www.ford.com\/trucks\/f150\/?searchid=579495422%7C1298524342975091%7C81158008779615%7C&#038;s_kwcid=AL!2519!10!81157828096875!81158008779615&#038;ef_id=15b276ed50591335affb10ae026b739e:G:s&#038;gclid=15b276ed50591335affb10ae026b739e&#038;gclsrc=3p.ds\" target=\"_blank\" rel=\"noopener\">starts at<\/a> just under $37,000.<\/p>\n<p>It\u2019s not just the price that EV purchasers have to stress over.\u00a0 The batteries used to power the vehicles also tend to cause issues, given their size and weight. The heavier the batteries are, the more quickly they\u2019ll wear the car down, resulting in more frequent mechanical problems.<\/p>\n<p>With the high costs, risk of mechanical issues, and the fact that the world is designed to cater to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/two-ca-dem-senators-tell-biden-to-set-hard-date-to-eliminate-sale-of-gas-powered-vehicles\/\" title=\"Two CA Dem Senators Tell Biden To Set Hard Date To Eliminate Sale Of Gas-Powered Vehicles\">gas-powered vehicles<\/a>, it\u2019s no shock that the EV market hasn\u2019t taken over like some thought.<\/p>\n<p>For now, <a href=\"https:\/\/www.westernjournal.com\/trump-campaign-blasts-bidens-new-extreme-electric-vehicle-mandate-promises-day-one-reversal\/\" target=\"_blank\" rel=\"noopener\">electric vehicles<\/a> just cannot compete on a grand enough scale with their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rising-electric-vehicle-production-costs-may-lead-to-1350-layoffs-at-illinois-plant\/\" title=\"Rising Electric Vehicle Production Costs May Lead to 1,350 Layoffs at Illinois Plant\">gas-powered alternatives<\/a> for companies like Ford to justify shifting so much capital into their production.<\/p>\n<p>And no matter how hard some environmentalists have pushed to get rid of gas-powered vehicles, this news from Ford shows that gas cars aren\u2019t going anywhere anytime soon.<\/p>\n<p>Which brings back the question: What was Ford\u2019s rationale behind devoting half of its company to EV production?<\/p>\n<p>If Ford thought the EV market was going to take off in just a few years, and envisioned that most of its sales would be generated by such at this point, it made a serious judgment error, and should definitely go back to the drawing board when it comes to EV production strategy.<\/p>\n<p>But if this wasn\u2019t a business decision, but rather one that had a political foundation, it shows how costly a mistake it can be when businesses focus on anything other than, well, business.<\/p>\n<p>This surely isn\u2019t the end of Ford\u2019s EV production, and the company will work to find ways to bounce back from this failure.<\/p>\n<p>But next time Ford makes a decision that could cost its company billions of dollars, hopefully, the light bulbs go off first.<\/p>\n<hr>\n<div>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>In just a few months, the world is going to change forever. The 2024 election is the single most important election of our lifetime. <\/span><\/i><\/p>\n<p><i><span>We here at The Western Journal are committed to covering it in a way the establishment media simply will not: We will tell the truth, and they will lie.<\/span><\/i><\/p>\n<p><i><span>But Big Tech and the elites don\u2019t want the truth out. That\u2019s why they have cut us off from 90% of advertisers. Imagine if someone cut your monthly income by 90%. That\u2019s what they\u2019ve done to people like us. <\/span><\/i><\/p>\n<p><i><span>As a staff, we are asking you to <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to fight this once-in-a-lifetime fight. Without you not only will The Western Journal fail, but America will fail also. As Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>Will you support The Western Journal today and <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>become a member<\/span><\/i><\/a><i><span>? <\/span><\/i><\/p>\n<p><i><span>A Western Journal <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Membership<\/span><\/i><\/a><i><span>  costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>This is the time. America will live or die based on what happens this year. Please <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  to get the real truth out and to fight the elites, Big Tech, and the people who want America to fail. Together, we really can save the country.<\/span><\/i><\/p>\n<p><b><i>Thank you for your support!<\/i><\/b><\/p>\n<p><i><span>P.S. <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Please stand with us<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45807\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/aaltomari\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45807\">Summary<\/label><label for=\"more-info-tab-radio-45807\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45807\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45807\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Anthony Altomari is a commentary writer for the Western Journal. He focuses his writing on culture and politics.<\/p>\n<\/p><\/div>\n<div>\n<p>  Anthony Altomari is a commentary writer for the Western Journal. He focuses his writing on culture and politics. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ford&#8217;s move to focus on electric vehicle production has backfired as they face staggering losses on each EV sold in 2024. With a shrinking EV market, Ford is now reducing orders to cope with the financial fallout, highlighting challenges in their electrification strategy. Anthony Altomari explores the repercussions in his May 14, 2024 commentary<\/p>\n","protected":false},"author":2570,"featured_media":2244076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/ford-mach-e-for-may-14-2024.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2244075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/ford-mach-e-for-may-14-2024.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2244075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2570"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2244075"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2244075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2244076"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2244075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2244075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2244075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}