Ford, GM, EVs -- 1Q23 -- April 4, 2023

Locator: 44306B.

Link here.

From the linked article:

GM outsold Ford when it comes to electric vehicles by almost two-to-one in the first quarter of 2023 as production troubles plagued the former No. 2 EV seller behind Tesla.

Ford sold 10,866 EVs in Q1 this year. While that’s up 41% from Q1 2022, it’s about 50% behind GM’s sales of 20,670 EVs.

Ford’s lackluster EV performance can be attributed mostly to a factory outage in its Mexico plant that makes its Mustang Mach-E as it attempts to double the factory’s capacity, as well as five weeks of lost production with its F-150 Lightning EV due to a recall stemming from a battery fire issue.

Despite Ford’s plan to spend $50 billion on its EV lineup acro the next three years, it predicts it will lose $3 billion on EV models in 2023. That’s even with jacking up the price of their F150 by 50% in about a year, from $40,000 last January to $60,000 today.

F, today: up 0.3%; trading at $12.72.

Other EV manufacturers today:

• RIVN: up 1%; trading at $15.38.
• RIDE: down 5%; trading at 61 cents.
• LCID: flat; trading at $7.90
• ARVL: down 6%; trading at 13 cents;
• TSLA: down 1%; trading at $192.58.
• GOEV: down 4%; trading at 59 cents;
• NKLA: down 5%; trading at $1.22;