Ford Says Selling Small Cars Is The Way
In 2018, Ford announced it would stop selling all passenger cars save for the Mustang. Then-CEO Jim Hackett said that Ford needed to shift its focus to a more profitable segment of the market at the time: trucks and SUVs. While speaking about the company's plans for its affordable $30,000 (ish) EV, CEO Jim Farley said that the brand needs to reconsider.
Per CNBC, Farley says that the company’s approach to getting buyers back into smaller vehicles is a necessity.
Farley spoke specifically about large EVs, but the logic can certainly be applied to its gas-powered products as well: “You have to make a radical change as an [automaker] to get to a profitable EV. The first thing we have to do is really put all of our capital toward smaller, more affordable EVs. That’s the duty cycle that we’ve now found that really matches. These big, huge, enormous EVs, they’re never going to make money. The battery is $50,000. … The batteries will never be affordable.” The CEO is right. Ford is practically lighting money on fire getting its electric vehicles up and running.
Chase is an automotive journalist with years of experience in the industry. He writes for outlets like Edmunds and AutoGuide, among many others. When not writing, Chase is in front of the camera over at The Overrun, his YouTube channel run alongside his friend and co-host Jobe Teehan. If he's not writing reviews of the latest in cars or producing industry coverage, Chase is at home in the driver's seat of his own (usually German) sports cars.
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