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Ford Boss Warns EV Sales Could Collapse To Half
— Jim Farley says the EV market will be smaller than previously expected.
— EVs currently account for between 10to 12 percent of the US car market.
— Ford says its EV team is frequently analyzing the demand for electrified cars.
The end of the federal EV tax credit has left the industry on edge, and Ford’s top executive is warning of serious consequences. Without the $7,500 incentive, Jim Farley believes demand for electric vehicles in the United States could collapse, with sales potentially dropping by half. It’s a sobering reminder of how much the credit has shaped America’s shift toward electrification.
Read: Jim Farley – “If We Lose This, We Do Not Have A Future Ford”
Speaking at the automaker’s “Ford Pro Accelerate” event in Detroit, Farley said EVs might soon represent only 5 percent of the overall US car market, a level last seen in 2022 and well below the record 10 to 12 percent share expected this month.......
Ford Boss Warns EV Sales Could Collapse To Half
— Jim Farley says the EV market will be smaller than previously expected.
— EVs currently account for between 10to 12 percent of the US car market.
— Ford says its EV team is frequently analyzing the demand for electrified cars.
The end of the federal EV tax credit has left the industry on edge, and Ford’s top executive is warning of serious consequences. Without the $7,500 incentive, Jim Farley believes demand for electric vehicles in the United States could collapse, with sales potentially dropping by half. It’s a sobering reminder of how much the credit has shaped America’s shift toward electrification.
Read: Jim Farley – “If We Lose This, We Do Not Have A Future Ford”
Speaking at the automaker’s “Ford Pro Accelerate” event in Detroit, Farley said EVs might soon represent only 5 percent of the overall US car market, a level last seen in 2022 and well below the record 10 to 12 percent share expected this month.......