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Ford EV sales down 61% 11/25 vs 11/24.
Honda Prologue down 86%.
Waiting for the spin on why this isn’t a big deal and EVs are still the future…
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Ford only had marginally good sales when they were giving them away. I wouldn’t be driving this lightning platinum if it wasn’t 500/month with just first DAS.
Sales will probably stabilize around where they were before the tax credit came back, which was around the high single digit percentage of new car volume IIRC.
9/30 (or 10/31 for GM) was an example of artificially created seasonality. Looking at post-seasonal monthly numbers is like looking at outerwear numbers in July and concluding that manufacturers will go bankrupt
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The reality though is that manufacturers are stuck between and rock and a hard place. Either way they will need to subvent the rates, residuals or shore up the rebates on their end to move existing inventory and pare back future production.
I can buy that spin for October. Mayyyybe for November being generous. But when December sales are also in the toilet, what will the excuse be then? Nobody buys EVs in Dec because everyone’s too busy with Christmas?
It may be worse than that for Ford and GM. They can’t continue burning money on EV development but substantially reducing investment in EVs now means that in ten years you may be in a very bad spot trying to sell cars in Asia or Europe. Ford and GM are already behind on small engines and transmission since they skipped development of those the past decade to focus on EVs.
With a strong dollar, GM and Ford do not need international sales to maintain earnings but if the dollar weakened substantially, a dramatically diminished international presence becomes a very serious problem.
In for a penny, in for a pound?
The production equipment is already a sunk cost so perhaps keeping their head down with low production and high innovation is the way to go as BEV adoption builds up more organically.
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Dollar has weakened since the tariffs fiasco goes up. It stays lower even now.
Weakened in Asia? It’s strong there. In Europe
It back to its historic norm. All currencies are garbage in the world right now…it’s not exclusive if the dollar
Asia isn’t gonna be buying American EVs anyway. Assembly lines are built they need to focus on making them cheaper that’s about it
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Which asia are we talking about? USD is still lower than a year ago in Taiwan, Singapore & Malaysia. Higher than Indonesia because IDR goes down against every other currency. Putting those 4 since those are the one I travel & pay attention to.
Correction: Asia is not buying American cars since 30-40 years ago. The big 3 car market in Asia was in china, they no longer have that either.
Historically decreasing import into the country strengthens the local currency. I was told the primary cause of dollar weakening are the fed rate cuts as well as the anticipation of further rate cuts.
Yep the FED is cooked. Can’t raise, can’t lower. Stuck chasing rates instead of setting policy. Debt is unsustainable at high rates, inflation increases if they drop them.
Just another case for ending the fed as they have failed imo as has congress for inflating the debt to these unsustainable levels. The mag 7 is keeping the market going, along with the promise of AI. And the govt is making ai too big to fail so if it does the taxpayer will have to again bail that out while the corporations extract billions. The average American loses in both situations, either ai succeeds and creates massive job losses, or fails and is bailed out by us.
https://investorsobserver.com/news/stock-update/did-the-white-house-just-deem-ai-too-big-to-fail/
All this is why digital currencies are being adopted and pushed so hard bc they know the fiat system is towards the end so they need a new system to convert to. Great article…
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Digital currencies are the first one to goes down during a downturn. 
When have they gone down? Sure some shitcoins etc have but the major ones are all still up and will continue to rise when priced in any fiat currency. They’re still in their infancy so very volatile but if you think all the major players are getting involved just to make a quick buck you haven’t been paying attention. It’s the future no doubt about that if the technocrats get their way and they hold all the cards right now. It’s not about money it’s control. They have all the money already.
Greatest crypto story ever?
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Bitcoins is a giant ponzy scam and American hubris, no benefit to the society and wasting our resources. CCP was and is right for banning them in china.
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Did you buy the dip?