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2026-02-14 00:25:12
[US Electric Vehicle Boom Cools, Detroit Automakers Face Over $50 Billion in Losses] As the US electric vehicle market cools, American automakers are facing substantial losses. The Detroit Big Three—GM, Ford, and Stlantis—announced over $50 billion in impairment losses on electric vehicle-related assets after a 30% drop in sales in the fourth quarter. The sales decline was primarily due to the expiration of the $7,500 federal tax credit. GM continues to scale back its electric vehicle production capacity, while Ford has adjusted its strategy, planning to launch a low-priced electric pickup truck by 2027. Stlantis sold its battery business stake due to a misjudgment of the energy transition's pace. The reduction in US federal tax credits, relaxed energy efficiency requirements, and weak demand have forced automakers to suspend projects, lay off staff, and refocus on traditional gasoline-powered vehicles.
