Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

madville

(7,413 posts)
2. In the US they are to some extent
Sat Nov 25, 2023, 09:39 PM
Nov 2023

They over promised and then didn’t deliver on many things. A major problem is they’re still focused on high dollar trucks and SUVs, they want to sell their $80,000-$120,000 trims and are introducing those first before the cheaper base models. But with the exception of Tesla, the rest are losing money on each EV they sell. Ford lost an average of $62,000 on each EV they sold in the 3rd quarter this year. That isn’t sustainable.

GM is delaying production of several of their models because they’ll actually be saving money by NOT selling at a loss at this time. The Bolt was selling good but it was losing $9,000 on each one sold so GM ended production to replace it with the Equinox. But they over promised the entry-level Equinox at $30,000 and have already had to raise it to $35,000 and haven’t even delivered one yet. They’ll be losing money on it too.

They’re in a pickle. They’ve committed to their EV strategy but it is costing them billions in loses. If they sold them at their true cost, they’d sell very few because most would be over $100,000.



Latest Discussions»Issue Forums»Environment & Energy»AP: US electric vehicle s...»Reply #2