Big Ford EV Announcement Coming Aug 11th

[JeffKeryk]

So your boss at Novellus was very loyal - enough to hire you elsewhere. Very good. I had a boss that did the same thing - well he stole me from the first company I worked with him at. Boss is much more important than company.

Novellus may have been loyal. Lam - definitely not loyal.

If some companies used to be loyal, and I suspect even back then they were not, they certainly are not today.

Actually, the manager who hired me after Lam let me go was not my boss; he was the Novellus European VP of Sales before he left. He hired me when he heard I was looking.

My boss at Novellus, who hired me, was a very tough lady from the streets of Vietnam. She was very hard on me, and others. But she fought for me. And trusted me. And gave me incredible opportunity. "I want you to go out and work with the business. If you get in trouble, come back and tell me. I will help you out."

 

[JeffKeryk]

Then you either work in government, a unionized environment, or a company that is not normal. I've worked so many places that don't do raises (or tiny raises that are insults, like less than 1%) that I would consider a company that does actual raises to be a freak of nature.

I get it. I dare say Silicon Valley is a different place, and Novellus was a differently run company. Not for everyone, that's for sure.

 

[buster]

"China’s electric-vehicle behemoth delivered 393,060 units in September, marking an almost a 6% decline year over year.
That comes after the firm reportedly slashed its sales target for this year by as much as 16% to 4.6 million deliveries, amid a fierce price competition in the domestic market.
Meanwhile, EV upstarts across the board set new monthly delivery records."

 

[SammyChevelleTypeS3]

"China’s electric-vehicle behemoth delivered 393,060 units in September, marking an almost a 6% decline year over year.
That comes after the firm reportedly slashed its sales target for this year by as much as 16% to 4.6 million deliveries, amid a fierce price competition in the domestic market.
Meanwhile, EV upstarts across the board set new monthly delivery records."

Still a healthy number. Of course China got a few more people than most nations on the 3rd rock.

 

[buster]

 

[demarpaint]

View attachment 305008

Yes, and they'll be increasing ICE production as well. IIRC they said they'd be retooling some of the EV production lines to produce more ICE vehicles. They might be also taking additional "earnings hits" related to this over the next few qtrs. IMO they're probably reacting to the $7,500 credit going away, smart move.

 

[alarmguy]

Electric vehicles are here to stay however the market is going to correct for the $7,500 loss in profit on many vehicles.
There is going to be a huge correction, and along with that reducing the amount of insane options to get the price down to gasoline priced vehicles of the same size and utility.

The public was not getting a $7,500 tax rebate. The auto companies were given a $7,500 profit. At any rate, marginal buyers will certainly be out because they will no longer have $7,500 handed to them to buy one vehicle which is most cases was more expensive then the gasoline.

GM and I expect most companies but not all were preparing for this. GM started cutting back around a year or two after the lofty expectations were realized to be excessive. Every auto company back off statements that all vehicle would be electric by 2035 or so.
IN the last year or so GM was converting or building a brand new plant for its large V8 engines.
The bloodbath is only beginning wait in Jan 2026

The good news is automakers will be motivated to find ways to bring more affordable EVs to the market.

 

[JeffKeryk]

GM, and most car manufacturers lose $$ on every EV sale. The increase in prices, for many, due to the tax break, will hurt manufacturers mainly by sales numbers decline. Margins, already negative, will suffer because fixed costs will be spread over fewer units and procurement economies of scale. The tax credit was designed to help car companies get their EV endeavours started. Unfortunately they could not make their cars profitable.

 

[4wd]

GM, and most car manufacturers lose $$ on every EV sale. The increase in prices, for many, due to the tax break, will hurt manufacturers mainly by sales numbers decline. Margins, already negative, will suffer because fixed costs will be spread over fewer units and procurement economies of scale. The tax credit was designed to help car companies get their EV endeavours started. Unfortunately they could not make their cars profitable.

Hurt, suffer, get started?
Seems long enough especially for tax payers with no interest in an EV.

 

[JeffKeryk]

Hurt, suffer, get started?
Seems long enough especially for tax payers with no interest in an EV.

Sure. You can say that about a lotta things. I was not interested in them myself. But when the Tesla Fremont plant opened the shuttered GM/NUMMI plant and hired so many workers, I decided to support that. Little did I know I would fall in love with the cars.

 

[buster]

 

[demarpaint]

View attachment 306568

Smart move, sell people what they want, and continue on a smaller scale with R&D and EVs.

 

[buster]

 

[buster]

 

[MParr]

Breaking News: Everyone doesn't like EVs. The market will sort it out.

 

[JeffKeryk]

As businessmen, CEOs are cheerleaders. The world is not ready for an EV pickup, at least with current technology. Maybe ever?

Beyond the Lightning, Farley is dealing with perhaps the worst vehicle recall year in history.
I wish CEO Farley luck. He has his work cut out for him.

 

[Torrid]

As businessmen, CEOs are cheerleaders. The world is not ready for an EV pickup, at least with current technology. Maybe ever?

Beyond the Lightning, Farley is dealing with perhaps the worst vehicle recall year in history.
I wish CEO Farley luck. He has his work cut out for him.

I don't think a truck is the right form factor for an EV. That said every Lightning owner I've talked to absolutely loves it. I almost bought one just because I was used to the F150 and it doesn't feel like an EV because it isn't that crazy of a departure from the standard truck.

 

[JeffKeryk]

View attachment 313750

Well, pretty much every car company's (that isn't Tesla) EV ventures have been a bust from a profit and loss standpoint. At least Ford posts their results instead of burying them deep and/or purposely using misleading finance term results.

"Wait for the big boys to get in!"

 

[Snagglefoot]

If Ford could only afford to buy aluminum.....

 

[4wd]

you call that a Ford truck, mate?