Phil Flynn and Tom Maoli discuss the Biden administration’s push to produce electric cars that consumers don’t want on “Evening Edit.”
Ford Motor Co.’s electric vehicle sales were weak last month as consumer demand for EVs continued to decline, but total vehicle sales still rose, thanks in part to a surge in hybrid models.
Ford reported sales of 4,674 EVs in January, down 10.9% from 5,247 EVs sold in the same month last year. For comparison, in January 2023, Ford reported selling more than 7,800 EVs in the previous month, which was a 223% jump from the previous year.
Ford’s corporate logo seen at the Brussels Motor Show in Belgium, January 9, 2020. (Reuters/François Renoir/Reuters Photo)
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| F | ford motor corporation | 12.14 | +0.04 | +0.29% |
Still, the company increased overall sales by 4.3% to 152,617 units last month, with hybrid vehicle sales up 42.7% from January 2023.
Electric car push power turned off
Despite demand for EVs surging in recent years under the push of the Biden administration and manufacturers, many consumers are hesitant to switch from gasoline-powered vehicles due to concerns such as insufficient charging, and spending on all-electric models is declining. People’s interest has remained flat. Rising infrastructure and vehicle costs.
Knes Ford dealership in Delavan, Wisconsin. Ford’s EV sales fell last month due to weak demand, but the company saw a surge in hybrid sales. (Knes Auto & RV Group/FOX News)
Hybrid models have become a “happy medium” for some buyers because they don’t always require a charger and tend to be more affordable.
‘Wake-up call’: EV owners unable to charge due to extreme freeze
In October, Ford posted larger-than-expected losses for its EV division, scaled back planned investments and began cutting production of the Mustang Mach-E.
Ford CEO Jim Farley attended the launch of the Red Bull Racing team’s new F1 car in New York City on February 3, 2023. (ED JONES/AFP via Getty Images/Getty Images)
“We are leveraging our manufacturing flexibility to balance growth and profitability while offering our customers choice,” Ford CEO Jim Farley said in a statement at the time. Ta.
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“We believe there is a bright future for certain consumer electric vehicles, especially with the upcoming launch of digitally advanced EVs and access to Tesla’s charging network starting this quarter.” Production of the F-150 Lightning pickup truck has been reduced, and personnel at the Rouge Electric Vehicle Center, where these trucks are manufactured, have been cut.
