John Socks@socks.masto.hosttoClimate - truthful information about climate, related activism and politics.@slrpnk.net•EV sales are growing. So why are automakers getting cold feet?
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23 days agoIndeed,
“Ford just reported a massive loss on every electric vehicle it sold”
https://www.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html
@Delta_V going back many years I’ve heard the description of the automobile industry problem as “overcapacity.”
Too many companies in too many countries are fighting for too few buyers, compared to that production capacity. Like, if you ran all plants atlnd all shifts it would be way too many cars.
Now that’s happening in EVs right?
To make money, on specifically the Mustang, Ford it has to sell a lot of Mustangs. Unfortunately everyone else is trying the same thing at the same time.