It's Time to End the EV Racket

Yet, judging from the number of EV spots on television, which have increased by nearly 400% over the past few years, you'd think that Americans were clamoring to buy them. EV sales have risen only a fraction of the percentage since last year despite the endless good press, the endless ads and the endless government subsidies.

Even with over a decade of government help, EVs make up around 9% of all new car sales. And most of these are sold to the wealthy (and government fleets).

Electric vehicles are status symbols for the upper class.

It's unsurprising that Ford projected recently that it would lose $5.5 billion on its electric cars this year. In other words, Ford's profits could spike by 50% if it stopped making EVs.

Last year, the company lost another $5 billion, or around $60,000 on every one of the 20,962 EVs it sold.

In 2023, Ford lost $4.7 billion on EVs.

In 2022, Ford lost $2.2 billion on EVs.

You see the trend.

What kind of sane corporation continues manufacturing a product that loses more money per unit every year and undermines shareholder profits? Well, one that ignores market signals and reacts to distorted government incentives.

Ford, of course, knows that when the EV bubble bursts, they'll be bailed out by taxpayers. Why not? They were strong-armed by the Biden administration to pledge that 40%-50% of all new cars sold by 2030 would be EVs.

The Environmental Protection Agency's greenhouse gas emissions standards demand that all carmakers make 32% of new sales of EVs and hybrids by 2027. By 2032, no more than 29% of new sales can be gas-powered.

Good luck with that!

As of right now, every major car company other than Tesla loses money on electric vehicles. Honda and General Motors have canceled plans to make new EV models because there's no demand. Toyota cut global EV production by a third.

A few years back, a study by the Texas Public Policy Foundation found that the average EV would cost an additional $48,698 if it weren't for government credits and subsidies. Imagine how few EVs would be sold if consumers were asked to pony up another nearly $50,000 to buy them?

Even EV stocks, which have significantly fallen from their historic highs, are still artificially propped up by the knowledge that the state will let the industry fail. And it's not just the cars themselves. There are so many government credits, grants and loans associated with the EV boondoggles like battery factories and charging stations that it's difficult to keep track.

We keep pumping more dollars into this bubble. Even with endless state inducements, companies like Canoo (which lost $900 million and produced a grand total of 122 cars), Fisker (which filed bankruptcy twice, failing to pay back a $139 million federal loan), Lordstown Motors (which blew through hundreds of millions of dollars, including Ohio taxpayer money, and manufactured 56 electric SUVs total), to name a few EV-related companies, have filed for bankruptcy.

Many of them fail to make taxpayers whole.

Before leaving office, Biden handed a $6.6 billion low-interest "loan" to EV maker Rivian so it could finish building a Georgia factory it promised (though it's something of a stretch to call the company an EV maker, since it can barely do it).

Let's face it, those Solyndra guys were pikers.

The Department of Energy doesn't lend money to Solyndra or Rivian because these companies have the best people, the best ideas or the best chance of creating self-sustaining jobs. They lend it to companies because state central planners like the idea of solar and EVs to combat an imaginary climate emergency.

Now, if people want to buy electric cars, of course they should be able to. I know people who love them — the quiet engine, the quick acceleration, the way they look. One assumes there would be a profitable niche market for EVs if the industry significantly scaled back production.

Let's find out. Because taxpayers shouldn't be subsidizing their rides.

(COMMENT, BELOW)

Previously:
• 02/07/25: If You Really Support Immigration, Stop Excusing Chaos
• 02/03/25: Trump's Gaza Proposal Makes Complete Sense
• 01/24/25: How Biden's Pardons Normalize Abuse of Power
• 01/17/25: Israel Makes a Deal With the Actual Devil
• 01/13/25: Why Javier Milei Matters
• 12/20/24: The Obama Doctrine Is Dead
• 12/13/24: It's time for a national conversation about left-wing violence
• 12/09/24: It's time for a national conversation about left-wing violence
• 11/08/24: Don't Trash the Constitution to Dunk on the Libs
• 11/08/24: This 'liberation' will NOT be reported
• 11/01/24: HARRIS Is the Bigger Threat to the Constitutional Order
• 09/20/24: Fact checked! Harris Is the Extremist
• 07/13/24: Explain Yourself, Kamala Harris!
• 07/05/24: How Biden's Mental Decline Went From 'Misinformation' to Fact in a Week
• 04/12/24: Biden Is Now Chasing the 'Death to America' Voter
• 03/15/24: Turns Out Biden Lied About Hur, Beau, And Why He Pilfered Classified Docs
• 02/09/24: Why Biden Is Threatening to Veto Aid to Israel
• 02/09/23: Electric Cars Are a Scam
• 06/30/23: Americans Have Never Been Less Threatened by 'Extreme Weather'
• 03/03/23: Questioning Biden's Ukraine Policy Doesn't Make You an 'Isolationist'
• 01/20/23: No ribbons? Don't hide behind religion!
• 01/13/23: On Classified Documents, Joe Biden Is Out of Excuses
• 04/29/22: Biden's Ministry of Truth
• 04/08/22: The Most Radical Abortion Law in the Nation
• 04/01/22: Recuse Yourself, Joe Biden
• 03/25/22: No, School Boards Are Not 'Banning Books'
• 03/11/22: Let Them Drive Teslas
• 01/28/22: It's Not Government's Job to 'Root Out' Misinformation
• 01/14/22: Biden's Big Elections Lie
• 01/07/22: Schumer's Ugly 'Voting Rights' Gamble
• 12/24/21:AOC's Grasp on American Governance Is a 'Farce'
• 12/17/21: Dems Pivot from Build Back Better to Useless Extremism
• 11/19/21: Reckoning' Over Steele Dossier?
• 10/15/21: The Biden White House Will Pay for Playing Inflation Games
• 09/24/21: The most demonstrable political scandal still ignored
• 09/17/21: Sorry, AOC, The Rich Already Pay Their Fair Share
• 09/02/21: Why Isn't Biden to Blame for COVID-19 Deaths?
• 08/06/21: Biden's Unprecedented Attack on the Constitution
• 07/30/21: Jan. 6 Was Deplorable. It Was NOT a Coup
• 06/21/21: The Myth of Republican Obstructionism
• 05/21/21: What Does Putin Have on Biden?
• 04/16/21: Kristen Clarke Is Unfit to Be in Government
• 03/26/21: No to DC Statehood is far from GOP being reflexive
• 03/22/21: Biden Prepares to Strip College Students of Due Process Rights The Hypocrisy of the Filibuster Busters
• 03/12/21: Biden Prepares to Strip College Students of Due Process Rights
• 03/05/21: AOC's Terrible Minimum Wage Argument
• 02/12/21: The Dem Party Is Radicalizing against the Constitution
• 02/05/21: What NOT to Do with Marjorie Taylor Greene
• 01/15/21: Free Speech Is a Value Not Just a Right
• 12/31/20: It Can't Get Any Worse Than 2020. Here's a 2021 Political Wish List
• 10/26/20: Wanted: An Honest Debate about the Death Penalty
• 10/26/20: These are the questions 'Big Guy' Biden must be forced to answer about Hunter's emails
• 09/11/20: The Dems' Dangerous Delegitimization of the Election
• 08/28/20: Biden Is Underperforming Hillary in Battleground States
• 08/14/20: Kamala Harris, Imaginary Centrist
• 07/24/20: Who you calling a fascist?
• 07/17/20: Speech Police have finally gone too far
• 07/03/20: 'But Gorsuch' Is Still Trump's Best Argument
• 06/22/20: Welcome to America's Cultural Revolution
• 06/12/20: The color of my skin is not an indictment of my morality, nor does it strip me of my agency
• 06/05/20: What this son of immigrants knows about bulding bussinesses --- and the dismay of destruction
• 05/28/20: The Folly of Twitter's Fact-Check
• 05/22/20: Dems Warning Trump Will Reject Election Results Should Look in the Mirror
• 05/15/20: Obamagate Is NOT a Conspiracy Theory
• 05/08/20: Really, Joe --- due process is the opposite of justice?