January 1, EV Losses Drain Automakers as Mandates Falter

Wyatt’s Take

• Automakers lost billions chasing Biden’s EV push.
• Consumers reject electric cars despite government rules.
• Trump moves to end forced EV mandates.

Biden tried forcing Americans into electric vehicles, claiming it’s what the people wanted. Automakers lined up, only to lose billions when customers stuck with gas-powered trucks and cars.

Energy expert Robert Bryce says the world’s biggest automakers have seen EV losses top $114 billion since 2022. He noted Ford alone sold 410,000 EVs at a $36.3 billion loss, which is about $89,000 lost per vehicle.

‘This is the same story we’ve heard from Ford now for years — “Oh, just a few more of these, and we’re going to really figure things out,”’ Bryce said.

Polls show most Americans simply aren’t interested, with 53% saying they’re unlikely to ever consider buying an EV. Ford’s CFO claimed they’ve made ‘meaningful progress,’ but the billions in losses tell a different tale.

It’s not just Ford in trouble. General Motors, Stellantis, and even foreign carmakers like Mercedes and Volkswagen are pulling back their EV hopes and reporting huge losses. Tax credits are running out, and even Tesla’s sales dropped as U.S. and Chinese shoppers turn away from EVs.

President Trump announced repeals of old EPA rules that forced automakers to invest in EVs. He said bringing back common sense would cut $2,400 off the price of vehicles. Ending these mandates lets automakers build the cars real Americans actually want to buy, instead of taking orders from Washington bureaucrats.

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Wyatt Matters

Folks in the heartland work hard for their money and expect real value in return. Mandates that push expensive, unwanted cars hurt working families and small towns. Common sense means letting the market—not politicians—decide what Americans drive.