Major automakers like Ford, GM, and Stellantis have struggled to sell electric vehicles, resulting in billions in losses. Despite record-setting 2025 sales, the expiration of a $7,500 tax credit led to a rush in purchases. Ford lost $1.4 billion in the third quarter, with expectations to lose $5.5 billion in 2025. GM and Stellantis are also facing significant losses. U.S. EV sales dropped sharply in October 2025, with only a few models selling over 10,000 units. Most EVs sell at low volumes, hindering profitability. Dealers sold 74,835 EVs in October, down nearly 50% year-over-year. The expiration of the tax credit cooled demand, leading to a 30% decline. Ford and GM remain committed to EVs despite murky market conditions. Ford CEO sees a global competition with China and emphasizes the importance of an EV future.

Read more at Yahoo Finance: Latest EV sales data reveal uncomfortable truth