Ford postpones production of two electric vehicles due to market slowdown

Now that sales of electric vehicles in USA they start to slow down, Ford Motor Co. announced that it will delay the launch of new electric pickup trucks and a new electric SUV big as you add hybrids gasoline and electricity to its model line.

The Dearborn, Michigan, company said Thursday that a much-hyped new electric pickup truck to be built at its new plant in Tennessee will be delayed a year to 2026.

The large electric SUV, with three rows of seats, will be delayed two years, until 2027, at the company’s factory in Oakville, Ontario, near Toronto.

The setback comes as the growth of electric vehicle sales in the United States slowed to 2.7% in the first quarter of the year, well below the increase in 47% that drove record sales and market share of 7.6% last year. Sales of new vehicles overall grew by about 5% and the market share of electric vehicles decreased to 7.1%.

However, hybrid sales grew by Four. Five% from January to March, while sales of plug-in hybrids, which can travel a short distance on battery power before a gasoline-electric system kicks in, rose by 3. 4%according to Motorintelligence.com.

Ford also indicated that “hopes to offer” hybrid versions of all its gasoline passenger vehicles by the end of the decade in North America.

Industry analysts say most early adopters and those who want to reduce emissions have already purchased electric vehicles. Automakers now have to convince skeptical buyers to go electric, but those customers fear limited range and a lack of charging stations.

Ford expects pretax losses from its electric vehicle unit to rise from $4.7 billion last year to a range of $5 billion to $5.5 billion this year. But it expects commercial vehicles to generate between $8 billion and $9 billion, compared to $7.2 billion in 2023. Gasoline and hybrid vehicles are expected to generate approximately $7 billion to $7.5 billion. the same as last year.

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