Staff Reports
The Ford Motor Company, once a titan in the automotive world, is facing some serious trouble thanks to the relentless push for electric vehicles. According to a report in The Wall Street Journal, Ford’s attempt to transition to mostly electric vehicle production has caused their profits to plummet by nearly 50 percent. Yikes!
New Report Shows Ford’s Electric Vehicle Efforts Are Costing the Company an Unthinkable Amount of Profit via @gatewaypundit https://t.co/lXjCvapyKQ
— The Gateway Pundit (@gatewaypundit) February 8, 2024
The initial part of the report did offer a glimmer of hope, stating that Ford’s stock saw a 3 percent increase, and their expected adjusted operating profit for the year amounted to a whopping $11 billion, surpassing the $9.6 billion predicted by analysts. But hold your horses, folks, because it’s not all rainbows and unicorns for Ford.
The report delved into the grim reality of Ford’s EV production, revealing that their electric vehicle line suffered a colossal $4.7 billion loss last year, with projections indicating that things are only going to get worse, with a potential loss of between $5 billion and $5.5 billion in the coming year. Ouch, that’s going to hurt the ol’ piggy bank.
But it gets even worse, if you can believe it. The report took a jab at Ford’s forays into electric vehicles, particularly their projects like the Mustang Mach-E and F-150 Lightning EVs. The Wall Street Journal reported that if Ford had focused less on these “green” projects, their adjusted operating profit could have been a full 50 percent higher. Talk about shooting yourself in the foot!
And here’s the kicker: Ford seems to be turning a blind eye to the cold, hard truth. Despite the disastrous financial results of their electric ventures, they’re revving up to invest a whopping 40 percent of the company’s capital expenditures into EVs in 2024, just as they did in 2023. It’s like watching a car crash in slow motion.
But why, oh why, is Ford persisting in this seemingly self-destructive path? It’s not like there’s a stampede of eager customers clamoring for electric vehicles. In fact, the majority of Americans are shrugging off EVs like yesterday’s news. So, what gives?
The truth is, it’s not about satisfying consumer demand. It’s about caving in to the heavy-handed and intrusive agendas of the Biden administration and other Western governments. They’re hell-bent on coercing people into buying electric vehicles, all in the name of reducing carbon emissions. It’s the very opposite of the free market. Talk about government overreach!
It’s a shame that Ford, once a symbol of American ingenuity and success, has fallen under the spell of government pressure and climate change hysteria. Whatever happened to making cars that people actually want to buy and turning a healthy profit? It seems like Ford has taken a wrong turn, and they’re driving straight into a dead end.
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