"[W]hat's selling in EVs is more important, which is that the truly affordable EVs are more popular. Used EVs are super popular right now. So the market has changed."
"I like to look at the used market even more than the new market to understand what consumers' mindset is, and they're more interested in hybrids."
"Ford's lesson on what EVs sell in the U.S. has been an expensive one. Recently, it discontinued the Ford F-150 Lightning in favor of the F-series hybrid."
"Farley believes that the solution to a successful EV adoption is getting as close to dead-even as possible with China's offerings."
Ford CEO Jim Farley emphasizes the company's commitment to electric vehicles (EVs) despite industry slowdowns. He highlights the popularity of used EVs due to affordability. The challenge lies in matching China's costs without compromising quality. The auto industry faces difficulties with declining sales and regulatory changes, impacting electrification investments. Farley believes understanding the used EV market is crucial, as consumers show increased interest in hybrids. Ford has adjusted its strategy, discontinuing high-end EVs like the F-150 Lightning in favor of hybrids and continuing with models like the Mustang Mach-E.
Read at insideevs.com
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