Ford Reports Devastating Losses Thanks To Electric Vehicle Gamble

[pipedreams]

"Major U.S. automaker Ford blamed its sizable investment in electric vehicle (EV) company Rivian for its dramatic revenue decline in the first quarter of 2022.

Ford reported revenue of $34.5 billion between January and March, a 5% decline relative to the same period in 2021, and a net loss of $3.1 billion, according to the company’s earnings report released Wednesday. The Detroit automaker said its large investment in Rivian accounted for $5.4 billion in losses during the first quarter.

“A net loss of $3.1 billion was primarily attributable to a mark-to-market loss of $5.4 billion on the company’s investment in Rivian,” Ford said in the earnings report."

https://libertyunyielding.com/2022/05/02/ford-reports-devastating-losses-thanks-to-electric-vehicle-gamble/

https://www.bizpacreview.com/2022/04/29/ford-reports-devastating-losses-thanks-to-electric-vehicle-gamble-1231662/

[Fog]

I drive Ford, all trucks. Loved the CVPI when I drove it, and enjoyed a few miles in a Mustang.

But they, like all other major companies, drunk the woke poison and if I had a decent option I'd buy something else. Looking at SUV's and kinda liking the Honda Pilot. Honda cars have been good to all the people I know that drive them.

[Mrs.Cicero]

We missed our Crown Vic yesterday when MrC hit a deer with the Fusion.  That collision wouldn't have even scratched the CV (I know cause we hit deer with it, more than once).  The Fusion is going in for $2000 in repairs.  

At least my truck is a Nissan, and it's still being made.  Nissan could stand to update it, though.  They new ones are hardly different from mine and it's a decade old.  Plus.

[railfancwb]

15 minutes ago, Mrs.Cicero said:

We missed our Crown Vic yesterday when MrC hit a deer with the Fusion.  That collision wouldn't have even scratched the CV (I know cause we hit deer with it, more than once).  The Fusion is going in for $2000 in repairs.  

At least my truck is a Nissan, and it's still being made.  Nissan could stand to update it, though.  They new ones are hardly different from mine and it's a decade old.  Plus.

VW bug sold almost unaltered for decades. So did the Model T. A long running design can (not necessarily will) have defects eliminated during those years. Even the vehicles which seem to change regularly may be built on proven technology under the skin

[Cougar_ml]

Reminds me of my Kawasaki Ninja 250 that was my first motorcycle.

The model number was EX250F15

it was the 15th year they had used that same design for the motorcycle.

I think it lasted into the F20's before they finally updated it.

[Batesmotel]

If they want viable electric cars for the sake of the environment, they need to redesign the battery system. Build a durable car that will last for decades with user or mechanic replaceable components including the battery. Big removable batteries that slip into a battery compartment. Not battery sheets that are molded internally into the body pan.
 

This will give a long lasting vehicle eliminating the energy used to build new vehicles every few years and provide the way to just replace the battery when it wears out. Also allowing an easily way to recycle the spent battery. 
 

The current manufacturing model is  designed to force drivers to buy a new car every few years because the non replaceable battery wears out. It has nothing to do with saving overall energy use because the energy spent to build a car from scratch (mine to showroom) is enormous. 
 

Charging the cars is a separate issue. 

[miketx]

But wait...bidum was just praising them the othe day for their amazing electric cars! Oh noes...

[ChuteTheMall]

36 minutes ago, Batesmotel said:

If they want viable electric cars for the sake of the environment, they need to redesign the battery system. Build a durable car that will last for decades with user or mechanic replaceable components including the battery. Big removable batteries that slip into a battery compartment. Not battery sheets that are molded internally into the body pan.
 

This will give a long lasting vehicle eliminating the energy used to build new vehicles every few years and provide the way to just replace the battery when it wears out. Also allowing an easily way to recycle the spent battery. 
 

The current manufacturing model is  designed to force drivers to buy a new car every few years because the non replaceable battery wears out. It has nothing to do with saving overall energy use because the energy spent to build a car from scratch (mine to showroom) is enormous. 
 

Charging the cars is a separate issue. 

Yep, a driver should be able to drive into a shop and exchange batteries faster than an oil change. Like a flashlight, but bigger.

[Batesmotel]

57 minutes ago, ChuteTheMall said:

Yep, a driver should be able to drive into a shop and exchange batteries faster than an oil change. Like a flashlight, but bigger.

I understand that is the plan at Volkswagen. I hope they have the guts to go through with it. The new VW Bus concept looks cool. 

[tous]

2 hours ago, Batesmotel said:

If they want viable electric cars for the sake of the environment, they need to redesign the battery system. Build a durable car that will last for decades with user or mechanic replaceable components including the battery. Big removable batteries that slip into a battery compartment. Not battery sheets that are molded internally into the body pan.
 

This will give a long lasting vehicle eliminating the energy used to build new vehicles every few years and provide the way to just replace the battery when it wears out. Also allowing an easily way to recycle the spent battery. 
 

The current manufacturing model is  designed to force drivers to buy a new car every few years because the non replaceable battery wears out. It has nothing to do with saving overall energy use because the energy spent to build a car from scratch (mine to showroom) is enormous. 
 

Charging the cars is a separate issue. 

That reminds me of Apple's original iPhone business plan.

Product lasts two years, battery cannot be replaced, just buy a newer, greater, niftier model for $100 more every two years, ya fool.

China will thank you.

[Mrs.Cicero]

5 hours ago, railfancwb said:

VW bug sold almost unaltered for decades. So did the Model T. A long running design can (not necessarily will) have defects eliminated during those years. Even the vehicles which seem to change regularly may be built on proven technology under the skin

The only change I really want is a screen, instead of having to look around for wherever my phone has slid off to when I want to look at a map or change the music.  And a more adjustable seat would be nice.

[ChuteTheMall]

7 hours ago, railfancwb said:

VW bug sold almost unaltered for decades. So did the Model T. A long running design can (not necessarily will) have defects eliminated during those years. Even the vehicles which seem to change regularly may be built on proven technology under the skin

Most BMW motorcycle parts from the 1950's were the same thru the 1960's (generically called /2's) and many also fit the models thru the 1970's (called /5/6/7).

These are now all known as "airheads"

[holyjohnson]

Fords sales will pick up the Product is solid, The Marketing and Financing Sucks.

The People who want EVs cant afford the Sticker Prices and the New Car Buyers have a Market Full of Bright and Shiny Toys, sadly that No one can get a hold of because of The Supply Issues.

[jfost11]

I watched that launch and landing of Jeff Bozo's dildo rocket with Captain Kirk on it. A big deal was made about those Rivian trucks they used to take the crew out to the launch pad and bring them back. But when the capsule landed and the recovery teams were heading out there, yeah they showed the Rivian en route, but the first trucks to get there by a long shot were F150 Raptors. They showed them in the far away helicopter shots but avoided them with the camera crew on the ground.

[railfancwb]

Saw a “Pat ourselves on the back” marketing piece about the F150 EV. One sentence didn’t over claim. It said “zero tailpipe emissions”

[tous]

Why does an electric automobile need a tailpipe?

 

[Mj1956]

Puppet Pinocchio Biden will drive this Country into the sewer.  Auto Company's being forced to build crap products that we won't even be able to charge much less keep on the road.  he won't be happy til he burns our Electrical Grid to the ground.

i laughed out loud the other morning when they read off a story on Talk Radio about a City girl Millennial who was crying 'cuz she bought an Electric car and a couple days after getting it she realized she had nowhere to plug it in and her Landlord refused to supply her with a charging station. 

[jmohme]

On 5/4/2022 at 5:45 PM, Mrs.Cicero said:

The only change I really want is a screen, instead of having to look around for wherever my phone has slid off to when I want to look at a map or change the music.  And a more adjustable seat would be nice.

My wifes Ford Escape has that screen. I find it to be a huge distraction, especially at night, and there is no way to turn it off other than throw something over it to cover it.

I like my old POS Dodge truck more every time I drive her car..... She likes that crap though.

As for Fords losses. If their dealers are all as bad as the one my wife bought her Escape from, that may be one cause.

[railfancwb]

The “classic” cars and pickups from postwar up to circa 1960 or so will become increasingly desirable for daily use because they have little or no EPA and electronic gadgets to go bad. And - shocking as it sounds - they can be serviced under the shade tree without four or five digit electronic analyzers. 

[miketx]

On 5/4/2022 at 12:53 PM, Batesmotel said:

If they want viable electric cars for the sake of the environment, they need to redesign the battery system. Build a durable car that will last for decades with user or mechanic replaceable components including the battery. Big removable batteries that slip into a battery compartment. Not battery sheets that are molded internally into the body pan.
 

This will give a long lasting vehicle eliminating the energy used to build new vehicles every few years and provide the way to just replace the battery when it wears out. Also allowing an easily way to recycle the spent battery. 
 

The current manufacturing model is  designed to force drivers to buy a new car every few years because the non replaceable battery wears out. It has nothing to do with saving overall energy use because the energy spent to build a car from scratch (mine to showroom) is enormous. 
 

Charging the cars is a separate issue. 

The greedy car makers don't give a tinkers damn about making a long lasting car. Their whole system is f-ed up. 

[gwalchmai]

9 minutes ago, miketx said:

The greedy car makers don't give a tinkers damn about making a long lasting car. Their whole system is f-ed up. 

Nobody ever got rich by selling a product you'll never have to replace. 

[ChuteTheMall]

5 minutes ago, gwalchmai said:

Nobody ever got rich by selling a product you'll never have to replace. 

Estwing is doing OK.

 

[ChuteTheMall]

2 hours ago, railfancwb said:

The “classic” cars and pickups from postwar up to circa 1960 or so will become increasingly desirable for daily use because they have little or no EPA and electronic gadgets to go bad. And - shocking as it sounds - they can be serviced under the shade tree without four or five digit electronic analyzers. 

Someday the pre-Biden cars will all be considered classics but gasoline will be as scarce as Walmart ammo.

[railfancwb]

10 minutes ago, gwalchmai said:

Nobody ever got rich by selling a product you'll never have to replace. 

 

[gwalchmai]

1 hour ago, ChuteTheMall said:

Estwing is doing OK.

 

Yes, because they diversified into other tools besides hammers. Can you think of a company that just makes a single product that will not be replaced? Even Glock follows the potato chip model.