There is nothing that could convince me to invest a dime with any single one of the
Late/Great American Big Three Automakers since they have pretty much shown tremendous strides of ineptitude since the late 70s. Foreign auto makers have near put them out of business 2-3 times in the last 50 years. So they have had , a very long time to catch up? Even the way they completely shutdown over 100 years of giant auto making facilities in the USA -
(Detroit-California, Baltimore, NY etc...) and moved factories out of the USA it sure did not help them compete with the quality of what we call "
foreign made." Which sounds funny to say when still most of autos sold in USA are made now all across the globe. (not sure about Canada) Yes ...LoL
"foreign made!" sounds funny and irrelevant today. Yet the quality of at least two of those
Big Three still lags. I started out raised by parents and grandparents loyal to Chevy cars and Ford/Dodge trucks. Once I started buying my own and seeing things I had to fix, all the piddling things either made really cheap or things that always broke on them, but did not with other brands I stopped buying from
Chevy / Ford or / old Penstar (who has been bought and sold what 3-5 times) the past 30 years? Now ?FIAT/Chrsyler? Then I stumble across this GEM of an article this morning about one of our Big Three. Sadly we could probably find a very similar report on internet about
GM today. I actually just read an article someone posted here from an investment expert who showed how much
Ford and
GM LOST and how
GM was the better choice having lost less! WoW. I dont choose either.
FORD:
This Ford CEO below almost talks like he has all kind of options when it comes to pricing!? What? Then why dont they do it? What is this price adjustment he talks about like a light switch they can flip if they need to?
Ford pulls the plug on EV strategy as losses pile up
Despite an overall increase in revenue of 12 percent and year-end profits of $4.3 billion,
Ford's EV division lost almost $4.7 billion, Lawler said.
Ford CEO James Farley
laid much of the blame for the losses on EV pricing - a known sticking point for consumers unwilling to pay thousands more for a vehicle while inflation is up and interest rates remain. high
"Relative to EVs, there's a lot we can do, and there's a lot we're doing. I think you're going to see a lot of seismic changes in the industry because of this pricing power reality that we've all faced," Farley said on the call. "It's on us to get the cost right. That is the issue with the transition." While Ford's overall performance beat Wall Street expectations for the quarter, this isn't the first time we've heard negative news for the Model e division. On last quarter's call in October, Lawler said that
Ford was delaying $12 billion in EV investment "given the dynamic EV environment," and a need to adjust costs.
