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>"The news comes amid an industrywide pullback in EV investment due to slower-than-expected sales growth." This slower-than-expected sales growth is primarily

>"The news comes amid an industrywide pullback in EV investment due to slower-than-expected sales growth." This slower-than-expected sales growth is primarily due to the higher-than-expected pricing increases across the board for EVs that are made by car companies that aren't 100% EV by design, as well as higher interest rates.

bryanlarsen 3y ago
US EV sales growth is almost 40% this year. What kind of expectations did they have?
- dmix 3y ago
  What kind of sales growth looked good to shareholders at the time*
  - sremani 3y ago
    They invested approximately $6 billion. Transferred Mustang brand to EVs. Ford made real investments and Monroe Live has rated Ford vehicles second best after Tesla and that is exactly the problem with EV market. Non-Tesla EVs suffer from lackluster sales is a known fact. Ford thought if they made investments they could succeed, and their initial release coincided with vehicle shortage so the early run inventory sold hot, but once market settled and early enthusiasm waned, the sales fell off the cliff.
- glitchc 3y ago
  I'm sure Ford is looking at total numbers, not percentages. They have invested significant resources in their EV division and the ICE division is apt for comparison. After all, going from 1 to 2 sales is 100% growth!!!! /s
- neogodless 3y ago
  US EV sales are way up[0]. > Through the first nine months of the year, EV sales are up nearly 50 percent, already surpassing the full-year total for 2022. Ford US EV sales are up but way less than 40%[1]. > Sales are up 16.2%. They’ve increased from 53,752 in the first 11 months of 2022 to 62,460 in the first 11 months of 2023. [0] https://www.canarymedia.com/articles/electric-vehicles/chart-us-ev-sales-are-having-a-record-setting-year https://www.canarymedia.com/articles/electric-vehicles/chart... [1] https://cleantechnica.com/2023/12/08/ford-ev-sales-up-43/ https://cleantechnica.com/2023/12/08/ford-ev-sales-up-43/

bryanlarsen 3y ago

US EV sales growth is almost 40% this year. What kind of expectations did they have?

dmix 3y ago
What kind of sales growth looked good to shareholders at the time*
- sremani 3y ago
  They invested approximately $6 billion. Transferred Mustang brand to EVs. Ford made real investments and Monroe Live has rated Ford vehicles second best after Tesla and that is exactly the problem with EV market. Non-Tesla EVs suffer from lackluster sales is a known fact. Ford thought if they made investments they could succeed, and their initial release coincided with vehicle shortage so the early run inventory sold hot, but once market settled and early enthusiasm waned, the sales fell off the cliff.
glitchc 3y ago
I'm sure Ford is looking at total numbers, not percentages. They have invested significant resources in their EV division and the ICE division is apt for comparison. After all, going from 1 to 2 sales is 100% growth!!!! /s
neogodless 3y ago
US EV sales are way up[0]. > Through the first nine months of the year, EV sales are up nearly 50 percent, already surpassing the full-year total for 2022. Ford US EV sales are up but way less than 40%[1]. > Sales are up 16.2%. They’ve increased from 53,752 in the first 11 months of 2022 to 62,460 in the first 11 months of 2023. [0] https://www.canarymedia.com/articles/electric-vehicles/chart-us-ev-sales-are-having-a-record-setting-year https://www.canarymedia.com/articles/electric-vehicles/chart... [1] https://cleantechnica.com/2023/12/08/ford-ev-sales-up-43/ https://cleantechnica.com/2023/12/08/ford-ev-sales-up-43/