“UAW strike really makes big auto stocks dead money”
September 18, 2023
“…Large auto makers are losing huge money on the EV transition that is essentially being forced down their throats by worldwide governments. Consider this: before any new contract with the UAW, Ford’s EV unit was slated to lose $4.5 billion this year. Profits were highly unlikely in 2024, either, and who knows about 2025 or 2026…
What a new UAW contract likely brings, no matter the outcome, is a much higher cost base for automakers, and probably bigger losses from EV operations. While that is unfolding, the higher wages being paid to the UAW will bite the profit margins in the gas-powered businesses from which automakers have been funding their EV roadmaps…”
https://finance.yahoo.com/news/uaw-strike-really-makes-big-auto-stocks-dead-money-100033682.html
Electronic vehicles are a bridge to nowhere. EV’s suck. The cheap Chinese ones are a fire hazard that can explode any given minuet killing all inside. The expensive ones dont work [trucks can’t pull / haul weight], they are more costly than normal vehicles, and it is IMPOSSIBLE for every person to convert to EV’s. There’s not enough rare metals in the world for that. It’s not even close. Listen EV’s are a scam. Do not fall into the trap.