NO WAY OUT! The FINAL NAIL in the Coffin for Ford EV Future!

NO WAY OUT! The FINAL NAIL in the Coffin for Ford EV Future!
Hey everyone, welcome back to the channel! Today we’re talking about Ford and its electric vehicle (EV) strategy, which is facing some serious challenges. Sales are down, losses are skyrocketing, and the company is scrambling to figure out what to do next. Production has been reduced, investments postponed, and we’re seeing huge cuts in the workforce. Ford’s electrification plan is turning out to be a monumental failure, and things are looking grim for the company’s EV future. Don’t believe us? Let’s take a look at six clear signs that Ford’s EV strategy is falling apart.
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Indicator #6: Ford Lost $130,000 on Every EV Sold in the First Quarter
One of the most alarming indicators of Ford’s EV troubles is its massive losses per vehicle. In the first quarter of this year, Ford lost an astounding $130,000 on each EV it sold. To put this into perspective, last year Ford reported losing $5 billion on its EV division, averaging $40,000 in losses per vehicle sold. But things have gotten even worse.
Ford’s EV production was significantly reduced, and the company managed to sell just 10,000 EVs in the first three months of 2024, which represents a 20% drop from last year. Revenue from these sales plunged by 84%, totaling just $100 million. In turn, this led to a $1.3 billion loss for the company’s EV segment in the first quarter alone.
What’s even more surprising is that Ford had just claimed it had cut $5,000 in production costs for the Mustang Mach-E. But despite these savings, the company is still bleeding money. A big part of these losses includes the massive spending on research and development for future EV models, which won’t yield returns for years. For now, Ford’s only option seems to be cutting EV production-a move that feels more like damage control than a strategic shift.
Indicator #5: EV Sales Plunged 50%
While the overall growth of the EV market has slowed down, Ford’s EV sales are in free fall. Take the Mustang Mach-E, for example: earlier this year, sales dropped by 50%, leaving dealers with 20,000 unsold models sitting on their lots. At the current sales pace, it would take six months to clear out this inventory.
The situation with the F-150 Lightning, Ford’s all-electric pickup truck, isn’t any better. The Lightning was supposed to be the company’s flagship EV, the model that would eventually replace the internal combustion F-Series, which remains the best-selling vehicle in the U.S. But the real-world performance of the F-150 Lightning has been disappointing, particularly when it comes to range and charging speed. Once customers realized these limitations, canceled orders began pouring in.
To make matters worse, Ford has been losing money on every F-150 Lightning sold, as mentioned earlier. With demand cooling off, Ford was forced to cut production and even lay off hundreds of workers at its Lightning manufacturing plant. As EV sales continue to decline, Ford’s hybrid and gas-powered vehicle sales are actually up-hybrid sales increased by 42%, and even gas-only vehicles saw a 2.6% bump.
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Indicator #4: Ford Fired 70% of Its EV Workforce
The drastic reduction in F-150 Lightning production meant inevitable job cuts. Earlier this year, Ford announced significant layoffs at its Dearborn plant, where the Lightning is produced. In a shocking move, Ford cut 70% of the plant’s workforce. The plant had 2,100 workers at its peak, but only 700 remain today.
Ford offered some of the laid-off workers a transfer to its Wayne plant, where they were assigned to work on gas-powered models like the Ford Bronco and Ranger. Others were given a $51,000 retirement package or the option to transfer to other plants in southeast Michigan. These cuts show just how deep Ford’s EV problems run.
Indicator #3: Quality Problems Continue to Plague Ford EVs
One of the main reasons behind Ford’s EV struggles is poor quality. While Ford has never been known for exceptional reliability, the company’s EVs have been particularly plagued by issues.
Take the Mustang Mach-E for example. In 2022, Ford had to recall over 35,000 models due to battery overheating issues, which could occur during fast charging or heavy acceleration. In some cases, the car would lose power or fail to start entirely.
The F-150 Lightning hasn’t been any better. In fact, one incident at Ford’s Dearborn plant saw a Lightning truck catch fire while parked, damaging other vehicles around it. The Lightning was also recalled due to issues with the high-voltage junction box, which posed a potential fire risk.
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