Legacy Automotive Dropping Like Flies (Patreon)
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Polestar: The EV maker reported a $1.03 billion net loss for Q2 2025 (up from $268 million last year), issued a "going concern" warning indicating potential survival risks, and took a $739 million impairment on its Polestar 3 SUV due to low margins. It's also exiting China after selling just 69 units in H1 2025.
Nissan: Facing a potential financial disaster with a 90% profit drop in recent quarters, declining global sales (down 3.8% in H1), failed merger talks with Honda, and factories running below capacity. Analysts predict bankruptcy risk within 2 years
Stellantis (parent of Chrysler, Alfa Romeo, Jeep, Maserati, etc.): Suspended 2025 financial guidance amid tariff uncertainties and market impacts; overall group facing headwinds like weak sales and leadership shakeups. Prob dead by 2028.
Ford: Anticipating a tough 2025 with billions in EV losses (e.g., Model e division down $1.3 billion in Q2 alone), slowing sales, and tariff threats hitting imports. The company rejigged EV plans after cumulative losses exceeded $5 billion, amid broader affordability issues. I am pretty certain copying tesla 5 years later and launching their Tesla killer 3 years from now is not going to save them.
Jaguar Land Rover (JLR) was always a disaster. iPace is discontinued after selling them to Waymo. DOn't get me started on their ad campaign
Rivian: Altho they make the second best Electric Truck,,, they are not fungible as a going concern without tons of injections.
Lucid - was always a dead man walking with a sociopathic CEO - they whacked him last qtr. They survive on Middle Eastern Money - same backers as Uber... hence the funding and partnership.
Mitsubishi - same bucket as Nissan
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