Great job, Joe! Joe is giving Americans a subsidy of $8500 to buy $65,000 EVs that probably won’t qualify for subsidies. Ford Motor Company (and GM), raised the price of their EVs by the same amount as the subsidy. And…AND…Ford is laying off 3,000 non-union employees.
It sounds like a poor business decision. What do you think?
Ford Motor Company announced the layoffs of 3,000 workers in America, Canada and India in a memo to employees Monday as part of a continued pivot to electric vehicles.
Of the 3,000 workers affected, 2,000 are salaried employees and 1,000 are contractors.
The cuts impact around 6% of the company’s 31,000 full-time salaried workers in the U.S. and Canada, The Associated Press reported. Ford’s 56,000 unionized factory workers in America and Canada will be unaffected.
Ford is going to use the money saved to “building this future” and “reshaping” century-old operations.
They will go “all in” on EVs.
“… We’re reshaping the company, reshaping skills, investing in new technologies and simplifying investments in others, i.e., spending less,” (and taking the subsidies for themselves).
There may be more job cuts coming down the pipeline as Ford continues to adapt to EVs.
Ford and General Motors have announced price increases for their electric vehicles, essentially offsetting the electric vehicle tax credits contained in Democrats’ “Inflation Reduction Act.”
The price hikes effectively negate the potential tax benefit of buying one of the manufacturers’ new electric vehicles, The Daily Wire reports.
[Do you mean, those alleged subsidies were really payoffs to donors? And in return, Ford fires non-union workers?]
“The price hikes are comparable to the $7,500 tax credits for new electric vehicles included in the $740 billion Inflation Reduction Act, which currently awaits President Joe Biden’s signature.”
As if that isn’t enough, Kiplinger notes, higher prices of electric vehicles make them less likely to qualify for the tax credits:
“Vehicle price and type also matter. Vans, pickup trucks, and SUVs with a manufacture’s retail suggested price (MSRP) of more than $80,000, won’t qualify for the credit. For clean cars to qualify for the EV tax credit, the MSRP can’t be more than $55,000.”
The average price for a new electric vehicle is more than $65,000, according to Kelly Blue Book.
New Ford F-150 Lightning MSRPs
- Professional trim: $46,974 (beforehand $39,974)
- XLT trim: $59,474 (beforehand $52,974)
- XLT Excessive trim: $68,474 (beforehand $62,474)
- XLT Excessive / Ext Vary: $80,974 (beforehand $74,974)
- Lariat trim: $74,474 (beforehand $67,074)
- Lariat Ext Vary: $85,974 (beforehand $77,074)
- Platinum Ext Vary: $96,874 (beforehand $92,670)
The Federal Government Doesn’t have the power to provide subsidies as a means of picking Winners and Losers in a Free Market. The 16th Amendment allows Government to collect taxes. It says nothing about giving the Government the power to redistribute Wealth. When Government can provide Subsidies and Redistribute Wealth there is no longer a Free Market Economy.