It’s been a few years now, and auto makers are finally reverting to making cars that consumers want to buy. My question is, “What took them so long?”
After the initial surge of EV buying by those few who could afford them, makers of EVs are now finally waking up:
From Townhall:
“Ford has done a complete reversal on its plans for an electric sport-utility vehicle plant in Canada so it can focus on what consumers actually want: more combustion engine heavy-duty pickup trucks.
In an announcement, Ford said it would invest about $3 billion to expand Super Duty production on one of the company’s most profitable and in-demand vehicles, including $2.3 billion for retooling a plant in Ontario originally intended to be the EV manufacturing hub, with the rest going toward facilities in the U.S. and Canada.”
From the NYT:
“The shift in consumer sentiment is now forcing many automakers to pull back on aggressive investment plans, and pivot, at least partly, back to the internal-combustion engine vehicles that still account for most new car sales and a large share of corporate profits.”
My question to Ford and other makers of EV trucks … why did it take you so long to figure out something that to many of seemed like common sense according to Sutton’s Law.
( Willer Sutton, a bank robber reputedly replied to a reporter’s inquiry as to why he robbed banks by saying “because that’s where the money is.”)
As Axios notes, Ford’s latest move is not hard to figure out given that Ford’s EV unit lost $4.7 billion last year while the Ford Pro commercial business raked in $7.2 billion.
7/23/24
californiacontrarian