/biz/ - Business & Finance

>>56483573
>>56483579
>>56483585
>>56483589
>The punchline here is obvious: Ford and the other big automakers have been spending billions of dollars to cater to the whims of a tiny segment of the overall car market — a segment that’s heavily concentrated in a handful of liberal counties. That’s a lousy business strategy.

>On Thursday, Mercedes-Benz reported disappointing earnings and revenues. Reuters quoted the German automaker’s CFO, Harald Wilhelm, who called the EV sector a “pretty brutal space." Reuter said some automakers are selling EVs at prices “below the level of internal combustion engine cars despite their higher production costs.” It also quoted Wilhelm as saying, "I can hardly imagine the current status quo is fully sustainable for everybody.”

>On Wednesday, Reuters reported that Honda and General Motors “were ending a $5 billion plan to develop lower-cost EVs together just a year after announcing the effort.” The article continued, noting that on Tuesday, GM said it “would focus near-term EV efforts on meeting demand rather than hitting specific volume targets.” A GM spokesman told CNBC, “After extensive studies and analysis, we have come to a mutual decision to discontinue the program.” He added that both companies are “committed to affordability in the EV market.” But not, it appears, if that effort includes losing scads of money.

>Last week, Elon Musk warned about slowing demand for EVs after Tesla missed revenue and profit targets for the third quarter. And if Musk is warning about demand, then the EV business must really be in trouble. Musk said that for the “vast majority of people buying a car” the first concern “is about the monthly payment. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car...They simply can't afford it.”

>>55630646
Nigger if I hated you I wouldn't have wasted my time checking Lassen County news for reports of a local schizo dying in a coke-fueled shootout with the police after headshotting a girlscout selling brownies that he mistook for an assassin.

Hilarious how close to accurate I was kek

>>53209599
read my fucking thread

>>52909887
kek
Emailed you from bluesmonkee@gmail.com, because I like monkeys and I like the blues.

I'm also the light/sleep poster, and the teen poster from last thread (again, legal here) but I think the username sleepyteenfucker might get me v&