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2026-02-14 01:12:10
[US Electric Vehicle Market Cools, Detroit Automakers Suffer $50 Billion Loss] As the US electric vehicle boom gradually subsides, American automakers are facing huge 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 mainly due to the expiration of the $7,500 federal tax credit. GM continues to reduce electric vehicle production, 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 market demand have forced automakers to suspend related projects, lay off staff, and refocus on gasoline-powered vehicles.
