{"id":324542,"date":"2024-04-29T08:30:03","date_gmt":"2024-04-29T06:30:03","guid":{"rendered":"https:\/\/climatescience.press\/?p=324542"},"modified":"2024-04-29T08:30:05","modified_gmt":"2024-04-29T06:30:05","slug":"ford-lost-1-3-billion-in-a-quarter-a-loss-of-132000-on-every-ev-sold","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=324542","title":{"rendered":"Ford lost $1.3 billion in a quarter, a loss of $132,000 on every EV sold"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From JoNova <\/a><\/p>\n\n\n\n

By Jo Nova<\/strong><\/p>\n\n\n\n

\"\"
Rutger van der Maar<\/a><\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

Remember when Ford was just losing $38,000 on every EV<\/a>? Those were the good days<\/h4>\n\n\n\n

The biggest star in the automotive world at the moment is a black hole, and it\u2019s swallowing whole industrial giants. It\u2019s hard to imagine a faster way to sabotage whole nations than to disguise your spies as academics and environmentalists. Then get them to convince the government to command a whole new market into existence in a highly technological field with the wave of a legislated wand.<\/p>\n\n\n\n

These numbers are astronomical:<\/p>\n\n\n\n

Ford just reported a massive loss on every electric vehicle it sold<\/a><\/h4>\n\n\n\n

By Chris Isodore, CNN:<\/strong> Ford\u2019s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.<\/p>\n\n\n\n

Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales.<\/p>\n\n\n

\n
\"Ford<\/a><\/figure>\n<\/div>\n\n\n

We can only wonder what\u2019s happening at other companies.<\/p>\n\n\n\n

The EV unit at Ford sold 10,000 cars in the first quarter this year, which is 20% fewer cars than they did a year ago. It\u2019s that bad. In fact it\u2019s worse. Those cars were also discounted. So the revenue mostly went beyond the event horizon \u2014 and fell an astonishing 84%.<\/p>\n\n\n\n

Ford is expecting losses in the order of $5 billion for the full year. Their aims now are so low, they just hope one day to sell the cars for enough to cover the cost of making them, perhaps. They can\u2019t hope to cover the millions spent on R&D in the foreseeable future. Indeed, even covering the costs in a market with a price war is said to be \u201cvery difficult\u201d.<\/p>\n\n\n\n

Meanwhile, two days earlier the IEA chief said the EV revolution was rolling on just fine:<\/h4>\n\n\n\n

CNN readers must be confused.<\/p>\n\n\n\n

The electric car revolution is on track, says IEA<\/a><\/h4>\n\n\n\n

[CNN]<\/strong> Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency.<\/p>\n\n\n\n

In a report Tuesday, the IEA projected that \u201csurging demand\u201d for EVs over the next decade was set \u201cto remake the global auto industry and significantly reduce oil consumption for road transport.\u201d<\/p>\n\n\n\n

So the global EV market is being powered by \u201cdrivers in China\u201d, like these drivers perhaps who left their brand new\u00a0EV\u2019s rotting in fields in China<\/a>. That would be imaginary drivers?<\/p>\n\n\n\n

\"\"
Chinese EV\u2019s rotting in a field<\/figcaption><\/figure>\n\n\n\n

The propaganda never ends.<\/p>\n\n\n\n

As Stephen Wilmot said in The Wall Street Journal last year,<\/a> if  Ford just canned the EV unit, its adjusted operating profit would be 50% higher. Surely that beckons\u2026<\/p>\n\n\n\n

Hat tip to\u00a0Marc Morano\u00a0 @ClimateDepot<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The biggest star in the automotive world at the moment is a black hole, and it\u2019s swallowing whole industrial giants. It\u2019s hard to imagine a faster way to sabotage whole nations than to disguise your spies as academics and environmentalists.<\/p>\n","protected":false},"author":121246920,"featured_media":324548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691828392,691818341,691818558,691818859],"class_list":{"0":"post-324542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-1-3-billion","9":"tag-china","10":"tag-evs","11":"tag-ford","13":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/0social.jpeg?fit=1280%2C640&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1mqy","jetpack-related-posts":[{"id":329029,"url":"https:\/\/climatescience.press\/?p=329029","url_meta":{"origin":324542,"position":0},"title":"CFACT challenges Ford CEO over EV\u2019s at shareholder meeting","author":"uwe.roland.gross","date":"14\/05\/2024","format":false,"excerpt":"During the shareholder question and answer period, CFACT\u2019s staffer Greg Neff asked Farley this question: \u201cDespite the CEO\u2019s assurances that the next generation of EVs will be profitable, the fact is Ford\u2019s EV Unit lost $1.3 Billion in the first quarter of 2024.","rel":"","context":"In \"electric vehicle (EV) marke\"","block_context":{"text":"electric vehicle (EV) marke","link":"https:\/\/climatescience.press\/?tag=electric-vehicle-ev-marke"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0BN-NN074_0412fo_M_20160412123907.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0BN-NN074_0412fo_M_20160412123907.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0BN-NN074_0412fo_M_20160412123907.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0BN-NN074_0412fo_M_20160412123907.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0BN-NN074_0412fo_M_20160412123907.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":285981,"url":"https:\/\/climatescience.press\/?p=285981","url_meta":{"origin":324542,"position":1},"title":"The EV bubble popped: VW orders are down 50%, Ford loses $38,000 on each car, Toyota chief, says \u201cpeople are waking up\u201d","author":"uwe.roland.gross","date":"01\/11\/2023","format":false,"excerpt":"Errr, what\u2019s going on here? Several automakers, including Ford and GM, recently announced they would be delaying key parts of their EV rollouts. From JoNova By Jo Nova Godzilla Image by\u00a0seanselbie\u00a0from\u00a0Pixabay Last week the EV bubble popped It\u2019s been a crushing week for the EV industry as the bad news\u2026","rel":"","context":"In \"electric vehicles (EVs)\"","block_context":{"text":"electric vehicles (EVs)","link":"https:\/\/climatescience.press\/?tag=electric-vehicles-evs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-6.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-6.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-6.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-6.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":418054,"url":"https:\/\/climatescience.press\/?p=418054","url_meta":{"origin":324542,"position":2},"title":"The EV bubble, or what\u2019s left of it, popped this week","author":"uwe.roland.gross","date":"21\/12\/2025","format":false,"excerpt":"After carmakers invested billions into EV designs, and the EU and UK vowed to ban internal combustion engines, it\u2019s all come undone. Donald Trump pulled the pin on subsidies for EVs and eased the strict emissions rules that punished petrol and diesel cars. US sales of electric cars promptly fell\u2026","rel":"","context":"In \"electric vehicles (EVs)\"","block_context":{"text":"electric vehicles (EVs)","link":"https:\/\/climatescience.press\/?tag=electric-vehicles-evs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOp8H41hHwURek6wmICQCdXiWs5UZbgUp3y9Fb-Ps7j5Mg9U5Ml2lUu9vGWtVGzGhWDInZW95KDHlcoCCgkEXDDitS_MWer7d4LbKidv7-NbgNREc4BSbJhUeDyLDLFZvKHlGclebD5zO98MM6z9Np6TwCzew.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOp8H41hHwURek6wmICQCdXiWs5UZbgUp3y9Fb-Ps7j5Mg9U5Ml2lUu9vGWtVGzGhWDInZW95KDHlcoCCgkEXDDitS_MWer7d4LbKidv7-NbgNREc4BSbJhUeDyLDLFZvKHlGclebD5zO98MM6z9Np6TwCzew.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOp8H41hHwURek6wmICQCdXiWs5UZbgUp3y9Fb-Ps7j5Mg9U5Ml2lUu9vGWtVGzGhWDInZW95KDHlcoCCgkEXDDitS_MWer7d4LbKidv7-NbgNREc4BSbJhUeDyLDLFZvKHlGclebD5zO98MM6z9Np6TwCzew.jpeg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOp8H41hHwURek6wmICQCdXiWs5UZbgUp3y9Fb-Ps7j5Mg9U5Ml2lUu9vGWtVGzGhWDInZW95KDHlcoCCgkEXDDitS_MWer7d4LbKidv7-NbgNREc4BSbJhUeDyLDLFZvKHlGclebD5zO98MM6z9Np6TwCzew.jpeg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/12\/AQOp8H41hHwURek6wmICQCdXiWs5UZbgUp3y9Fb-Ps7j5Mg9U5Ml2lUu9vGWtVGzGhWDInZW95KDHlcoCCgkEXDDitS_MWer7d4LbKidv7-NbgNREc4BSbJhUeDyLDLFZvKHlGclebD5zO98MM6z9Np6TwCzew.jpeg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":300695,"url":"https:\/\/climatescience.press\/?p=300695","url_meta":{"origin":324542,"position":3},"title":"Ford Lost Billions On EVs In 2023","author":"uwe.roland.gross","date":"08\/02\/2024","format":false,"excerpt":"Ford lost billions of dollars on its electric vehicle (EV) product lines last year, according to corporate documents.","rel":"","context":"In \"electric vehicles (EVs)\"","block_context":{"text":"electric vehicles (EVs)","link":"https:\/\/climatescience.press\/?tag=electric-vehicles-evs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/00ap23047139215572.jpg?fit=1200%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/00ap23047139215572.jpg?fit=1200%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/00ap23047139215572.jpg?fit=1200%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/00ap23047139215572.jpg?fit=1200%2C630&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/00ap23047139215572.jpg?fit=1200%2C630&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":349493,"url":"https:\/\/climatescience.press\/?p=349493","url_meta":{"origin":324542,"position":4},"title":"Ford Lost Another $1.2 Billion in 3Q On EVs","author":"uwe.roland.gross","date":"30\/10\/2024","format":false,"excerpt":"The ugly EV news from Ford Motor Company just keeps coming. 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