Comment by bko
5 days ago
Or they're unprofitable and highly competitive.
Ford: It recorded a loss of $1.2 billion in EBIT in the third quarter on its EVs, bringing its losses on the segment for the first three quarters of 2024 to $3.7 billion
Honda: Honda to Write Off $15.7 Billion as EV Winter Arrives.
https://www.reuters.com/business/autos-transportation/ford-r...
https://www.barrons.com/articles/gm-stock-general-motors-inv...
https://www.barrons.com/articles/honda-to-write-off-15-7-bil...
That projection won't last in a world where Brent Oil @ $100. That was only true while the petrodollars kept flowing.
It's also not representative for the whole industry. BMW is profitable with their electric cars, and 18% of their sales are fully electric.