Staff Reports
Ford Motor Company has taken a gigantic hit to its wallet, reporting a staggering $5.1 billion loss in its electric vehicle (EV) and software division for the year 2024. Those numbers come straight from the company itself, revealing a dismal trend in a space that many automobile manufacturers have been trying to shove down Americans’ throats while ignoring the virtue of good old-fashioned gas-guzzlers. Apparently, Ford is trying to ride the electric wave, but it’s measuring its progress in billions of dollars lost rather than miles driven.
While Ford’s EV division, known as Model e, struggles in the red at a whopping $5.1 billion loss, let’s not forget that the company still managed to pull off a $5.9 billion net income overall. This is akin to a racecar driver managing to score points while reversing down the track at full speed. The continued success of Ford’s traditional gas-powered vehicles, which the company seems to undervalue, has kept it afloat amidst this crisis. Despite the heavy losses, Wall Street may be somewhat pleased, but the average American consumer isn’t buying the EV hype.
The optimists over at Ford predict that its losses will only deepen, potentially hitting $5.5 billion in 2025. What’s more amusing is that Ford’s CEO, Jim Farley, has apparently given up on sticking up for American industries by raising alarms about potential tariffs on imports from Mexico and Canada. While he shrugs off the impact of temporary tariffs as “manageable,” it’s hard to ignore that prolonged tariffs could wipe out billions in profits. One has to wonder if Farley would prefer raising consumer prices over shifting the focus back to the robust lineup of gas-powered vehicles that Americans love.
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Meanwhile, as Ford flounders in its quest for electric dominance, General Motors is leaving it in the dust with multiple EV models hitting the market. GM’s EV division is reportedly on the path to profitability while Ford is still trying to figure out how to sell more than a handful of battery-electric vehicles. This highlights an ongoing issue within the automotive sector where legacy manufacturers may be so eager to bend the knee to the so-called “green” agenda that they forget what consumers actually want: reliable and economical cars driven by traditional engines that use gasoline rather than overpriced batteries.
In an attempt to claw its way out of this quagmire, Ford has unveiled plans to introduce a variety of powertrains, including hybrids and extended-range vehicles that use smaller gas engines to recharge. It seems Farley is finally acknowledging that Americans love their good ol’ gas engines and that there’s a market for them. The automaker is leaning on innovative designs to potentially salvage its electric aspirations while simultaneously embracing the most trusty auto technology around—gasoline. Perhaps it’s time for Ford to take a step back from the EV madness and realize that not every consumer is eager to give up on the roar of an engine that has defined American driving for generations.
