While the media is rightfully getting called to the carpet over their lies about President Trump’s “bloodbath” prediction, many are missing the real story: that heavy losses are already underway on Joe Biden’s watch. Look no further than electric vehicles.
Biden is forcing new rules on the automotive industry that amount to a de facto electric vehicle mandate. By some estimates, the mandate will require more than two-thirds of all sedans, crossovers, SUVs, and trucks to be fully electric within the next eight years. Adding insult to industry, this mandate is more lenient than Biden’s initial plan. It being an election year, the president must at least pretend he is in touch with reality.
Each electric vehicle is already the beneficiary of thousands of dollars of government subsidies in their construction and hefty tax breaks when they are sold. Combined with the fawning coverage in the press, it’s clear the scales are heavily tipped in the favor of EVs. Yet, even with all their advantages, EVs accounted for less than eight percent of total U.S. sales in 2023.
Most Americans do not want an EV. That’s why Joe Biden must impose his executive fiat. And because of Biden’s failed energy policies, the bloodbath has already started in the form of layoffs and massive financial losses.
Days before Biden handed down his latest mandate, the CEO of Hertz was unceremoniously removed for his decision to follow Biden down the failed EV road. After spending millions on EVs, Hertz found customers did not want them — not even for short-term rentals. The CEO lost his job, and the company lost $245 million in one quarter. But the bleeding does not stop there.
The White House and their choir of green supporters will try to deflect to record EV sales in 2023. But what they won’t tell you is how much money is lost even when EVs are selling. Ford, which makes one of the most popular vehicles in the country, is projecting a $5.5 billion loss on EVs just this year alone. Additionally, Tesla, perhaps the most famous EV company in the world, may stand lose money for the first time in 2024.
When EVs don’t sell, manufacturers lose. When they do sell, they lose again. Sadly, American workers are losing too.
General Motors laid off nearly 1,000 workers after EV sales failed to meet expectations. Rivian, a darling of the Biden administration, has now gone through at least two rounds of layoffs impacting 16 percent of their workforce. In fact, one analysis found there have been 19 layoff events at EV companies since the start of 2023. Keep in mind, this was during a period of record EV sales, spurred by huge amounts of government support. Perhaps those employees would agree more with Trump’s comment about the auto industry than with Biden’s failed policies.
Given the colossal failure of EVs, a tentpole issue for Joe Biden, it is no wonder his campaign and friends in the media are bending over backwards to distort President Trump’s “bloodbath” comment. Joe Biden is forcing EVs on a public that has already rejected them in the free market.
It’s clear that all the subsidies, tax credits and flashy commercials aren’t convincing American families to buy in to Biden’s boondoggle. Make no mistake, the president will continue this push this agenda unless the next person to lose his job in the EV collapse is him.
It’s past time we stop the bleeding.
Larry Behrens is the Communications Director for Power The Future. He has appeared on Fox News, ZeroHedge, and NewsMax speaking in defense of American energy workers. He is the author of the book “Sabotage: How Joe Biden Surrendered American Energy Independence.”
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller.