Portland public teachers union looking to go on strike to get the pay raise they deserve. Absenteeism is also on the parents/parent/grandparent/foster parents. Definitely not on absentee fathers. The solution for a dedicated parent is to have them get their kids the phuck out of the public school system. $16,000+ per kid in Portland and they need more to continue to miseducate the children. But I'm told that government employees like mello really care.
Portland public teachers union looking to go on strike to get the pay raise they deserve. Absenteeism is also on the parents/parent/grandparent/foster parents. Definitely not on absentee fathers. The solution for a dedicated parent is to have them get their kids the phuck out of the public school system. $16,000+ per kid in Portland and they need more to continue to miseducate the children. But I'm told that government employees like mello really care.
eh, they weren’t gonna get their reads down anyways.
Crony capitalism sucks ass, robs taxpayers and consumers. Dance with the devil ... or in Ford's case FAFO. GM and Ford should consider hiring some functional engineers and some marketing people who are able to conduct consumer surveys for consumers who actually are buyers of the autos and trucks rather than Women Studies professors. Hiring finance people with mythical MBAs to do your cash flow analysis and ending up losing $62k per sold auto is not smart business. But like Disney, it's all about virtue signaling.
MORNING RANT: The Electric Vehicle Transition Just Collapsed, and a Day of Reckoning Has Hit for Auto Manufacturers Who Bet Wrong on EVs —Buck Throckmorton EV Demand Graph.JPG The wheels have fallen off the electric vehicle revolution. Consumers are assertively rejecting EVs, and traditional auto manufacturers who bet heavily on “the EV transition” are at a day of reckoning.
The past few weeks appear to be the “gradually, then suddenly” moment when the problems with the EV transition suddenly collapsed into total failure, and auto manufacturers not named Tesla have had to admit that they bet wrong on EVs as they seek to stop the financial bleeding.
Usual Disclaimer: Tesla is a successful manufacturer of a boutique product favored by status-seeking luxury car buyers who have access to other vehicles for hauling, towing, and long-distance driving, and who have access to overnight charging. It is a niche product of limited utility.
As auto manufacturers started looking at their third-quarter financial results, they finally had to acknowledge that their EV commitments are, ahem, unsustainable, and that they cannot continue to sink billions more capital into the failed notion that EVs will replace internal combustion (“ICE”) vehicles. Here are some of the stories that have just broken:
“Ford again warns on EV results, withdraws 2023 forecast” [Reuters – 10/27/2023]
Ford said its EV unit posted a higher-than-expected loss in earnings before interest and taxes of $1.3 billion. Ford sold 20,952 electric vehicles in Q3 2023. The $1.3 billion loss in that quarter averages out to $62,000 per unit. That is catastrophically bad.
The company has forecast a full-year loss of $4.5 billion for the Ford Model e unit. With Ford referring to its EV division as “Model e,” a commenter here once referred to it as the “Model e-dsel.” That’s funny, but Ford survived its Edsel debacle, it may not survive its EV misadventure.
The automaker said its EV business was experiencing "sharply compressed" prices and profitability, and said customers were not willing to pay a premium for EVs over comparable combustion and hybrid models. Correct. Customers willing to pay a premium for a less-functional vehicle want a very exclusive hood ornament. Those customers purchase Teslas, not Ford e-dsels.
“Ford will postpone about $12 billion in EV investment as buyers become more cautious” [CNBC – 10/26/2023]
[Ford CFO John Lawler] said that Ford will postpone about $12 billion in planned spending on manufacturing capacity for EVs, including a planned second battery plant at a new campus in Kentucky. Something is puzzling here, because Ford is saying that it is not yet killing off its massive “Blue Oval City” EV plant that is under construction near Memphis, but previous reports about Ford’s $12 billion EV commitment included the Memphis plant in that commitment. Perhaps Ford will re-purpose Blue Oval City for ICE vehicles if it actually gets built.
Reality has also hit at General Motors. It just announced that the manufacture of electric pickups at one of its plants was being pushed back to late 2025 due to ”evolving EV demand,” which is a polite way of saying consumers will not buy them.
“GM delays EV truck production by a year at Michigan plant” [Reuters – 10/17/2023]
General Motors said on Tuesday it will delay production of the electric pickup trucks at its Orion Township, Michigan, plant as it grapples with "evolving EV demand." In addition, GM has just announced that several other new EVs that were about to hit the market are also on hold.
“GM Delays Launch Of Chevy Equinox EV, Silverado EV RST and GMC Sierra EV” [GM Authority – 10/24/2023]
The announcement that the launch of the Chevy Equinox EV, Chevy Silverado EV RST, and GMC Sierra EV Denali would be delayed was announced by GM CEO Mary Barra during GM’s Q3 earnings presentation. Here is what General Motors’ CEO Mary Barra had to say about the delay in launching these new EVs, after which I will translate it from corporate word-salad into English.
“The software organization team is optimizing the software strategy in fine-tuning the plans for our new vehicles to help make sure we execute with the highest possible quality and customer experience while positioning the company to drive significant revenue growth from subscriptions in the future,” Barra said during the presentation. Translation: “GM dealers don’t want to stock these new electric albatrosses because customers won’t buy them.”
Beyond the problem traditional auto manufacturers have selling EVs to luxury car buyers with the means to afford them is that there is effectively zero market for EVs among less affluent buyers who just need affordable transportation. The auto manufacturers are finally waking up to this reality.
Public art ain't what it used to be. From the "artists" to the government employees who approved the project to the woke leftards on the art committee that supervised the commission we have a complete failure. The civilization part of Western Civilization is no longer part of the equation.
At least we didn't have a Duck with mad math and stat skillz put together a chicom crud forecast which panicked other government scientist to lockdown tens of millions of Americans. Washington and Cali don't have much room to complain about Oregon Nazis.
At least we didn't have a Duck with mad math and stat skillz put together a chicom crud forecast which panicked other government scientist to lockdown tens of millions of Americans. Washington and Cali don't have much room to complain about Oregon Nazis.
The UW football coach locked down the nation? Damn, that's some Mad Ruler skilz.
Comments
The same could be said for politicians.
https://instapundit.com/
https://www.zerohedge.com/geopolitical/biden-chose-venezuela-over-canada-oil
Great, another janky wannabe baller.
We’re fucked.
https://ace.mu.nu/
MORNING RANT: The Electric Vehicle Transition Just Collapsed, and a Day of Reckoning Has Hit for Auto Manufacturers Who Bet Wrong on EVs
—Buck Throckmorton
EV Demand Graph.JPG
The wheels have fallen off the electric vehicle revolution. Consumers are assertively rejecting EVs, and traditional auto manufacturers who bet heavily on “the EV transition” are at a day of reckoning.
The past few weeks appear to be the “gradually, then suddenly” moment when the problems with the EV transition suddenly collapsed into total failure, and auto manufacturers not named Tesla have had to admit that they bet wrong on EVs as they seek to stop the financial bleeding.
Usual Disclaimer: Tesla is a successful manufacturer of a boutique product favored by status-seeking luxury car buyers who have access to other vehicles for hauling, towing, and long-distance driving, and who have access to overnight charging. It is a niche product of limited utility.
As auto manufacturers started looking at their third-quarter financial results, they finally had to acknowledge that their EV commitments are, ahem, unsustainable, and that they cannot continue to sink billions more capital into the failed notion that EVs will replace internal combustion (“ICE”) vehicles. Here are some of the stories that have just broken:
“Ford again warns on EV results, withdraws 2023 forecast” [Reuters – 10/27/2023]
Ford said its EV unit posted a higher-than-expected loss in earnings before interest and taxes of $1.3 billion.
Ford sold 20,952 electric vehicles in Q3 2023. The $1.3 billion loss in that quarter averages out to $62,000 per unit. That is catastrophically bad.
The company has forecast a full-year loss of $4.5 billion for the Ford Model e unit.
With Ford referring to its EV division as “Model e,” a commenter here once referred to it as the “Model e-dsel.” That’s funny, but Ford survived its Edsel debacle, it may not survive its EV misadventure.
The automaker said its EV business was experiencing "sharply compressed" prices and profitability, and said customers were not willing to pay a premium for EVs over comparable combustion and hybrid models.
Correct. Customers willing to pay a premium for a less-functional vehicle want a very exclusive hood ornament. Those customers purchase Teslas, not Ford e-dsels.
“Ford will postpone about $12 billion in EV investment as buyers become more cautious” [CNBC – 10/26/2023]
[Ford CFO John Lawler] said that Ford will postpone about $12 billion in planned spending on manufacturing capacity for EVs, including a planned second battery plant at a new campus in Kentucky.
Something is puzzling here, because Ford is saying that it is not yet killing off its massive “Blue Oval City” EV plant that is under construction near Memphis, but previous reports about Ford’s $12 billion EV commitment included the Memphis plant in that commitment. Perhaps Ford will re-purpose Blue Oval City for ICE vehicles if it actually gets built.
Reality has also hit at General Motors. It just announced that the manufacture of electric pickups at one of its plants was being pushed back to late 2025 due to ”evolving EV demand,” which is a polite way of saying consumers will not buy them.
“GM delays EV truck production by a year at Michigan plant” [Reuters – 10/17/2023]
General Motors said on Tuesday it will delay production of the electric pickup trucks at its Orion Township, Michigan, plant as it grapples with "evolving EV demand."
In addition, GM has just announced that several other new EVs that were about to hit the market are also on hold.
“GM Delays Launch Of Chevy Equinox EV, Silverado EV RST and GMC Sierra EV” [GM Authority – 10/24/2023]
The announcement that the launch of the Chevy Equinox EV, Chevy Silverado EV RST, and GMC Sierra EV Denali would be delayed was announced by GM CEO Mary Barra during GM’s Q3 earnings presentation.
Here is what General Motors’ CEO Mary Barra had to say about the delay in launching these new EVs, after which I will translate it from corporate word-salad into English.
“The software organization team is optimizing the software strategy in fine-tuning the plans for our new vehicles to help make sure we execute with the highest possible quality and customer experience while positioning the company to drive significant revenue growth from subscriptions in the future,” Barra said during the presentation.
Translation: “GM dealers don’t want to stock these new electric albatrosses because customers won’t buy them.”
Beyond the problem traditional auto manufacturers have selling EVs to luxury car buyers with the means to afford them is that there is effectively zero market for EVs among less affluent buyers who just need affordable transportation. The auto manufacturers are finally waking up to this reality.
https://ace.mu.nu/