"I think Ford's got a real problem on their hands based on the bets they've made," they said. (The dealer spoke with Insider on the condition of anonymity out of concern for professional repercussions. One East Coast Ford dealer told Insider that Ford's current production rate was out of step with customer demand even though the company was bullish about and invested in EVs. That's turning some dealers away from EVs In fact, it's losing about $58,000 on each EV it sells (not abnormal for the first few years of a launch.) Hefty rebates and steep price cuts to keep up with Tesla's price war aren't helping profitability, either.Īt the same time, it required dealers to spend anywhere from $500,000 to more than $1 million to become "EV certified" to sell the expensive, usually unprofitable vehicles. But while it plows $50 billion into the new programs, it's expecting to lose at least $3 billion in the process and likely won't turn a profit on the segment for three years. The firm said that the automaker sold 70% of its Lightning inventory within 30 days in the second quarter of last year but that it had only sold 39.3% of it within that timeframe so far this year.įord is targeting EV production of 600,000 vehicles this year. About 52% of undelivered Mach-Es are still in transit, he said.ĭeliveries of the Lighting are also up this year compared with last year when production of the vehicle was still ramping up, but the rate of sales appears to be slowing, according to data from Cloud Theory. He also said the unsold Mach-E inventory wasn't just sitting on dealer lots because it spent more time in transit. It often indicates a user profile.Įrich Merkle, Ford's head of US sales analysis, said EV sales were up nearly 12% through June. Account icon An icon in the shape of a person's head and shoulders.
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