More On Ford As Earnings Are Dissected -- February 7, 2024

Locator: 46758FORD.

Following Ford's 1Q24 earnings release earlier this year, more articles are coming out, but they all point to one thing: EVs in the US, if not dead, are significantly delayed (think at least ten years).

It's no longer about EVs. The big question is whether Americans even want fake EVs (hybrids). I can see hybrids in automobiles, but definitely not pick-up trucks and maybe not even SUVs. Think weight. Folks are going to go broke buying new tires for their EVs.

Since the original note, new articles:

Ford lost $65,000 on every EV sold -- and no, this can't be spread out of EVs yet to be built and sold; Ford has delayed all its EV plans its EV plans wherever they can do that (needs to be fact-checked.

Ford has explicitly said or has implied that the company will make back that loss by increasing prices on their F-150s. It was also noted on CNBC yesterday that the new labor contract is impacting CAPEX plans but by delaying all EV plans wherever they can, the company can afford to pay shareholders a special dividend in the first quarter.

And this tweet. Note the word used to describe the reaction of Ford executives when they learned their EVs were not selling. "SHOCKED."

Original Post

Ford's earnings, link here.

• beat on bottom and top lines; by quite a wide margin. 
• EV unit lost money but ICE did incredibly well.
• should confirm the death knell for EVs. In the US.
  
• huge labor expense. Changing CAPEX.
• special dividend, 18 cents, in first quarter. In addition to regular quarterly.
  
• shares up seven to eight percent after hours, now trading above $12.