Automaker Suffers Major Losses of Billions Due to Electric Vehicle Investments in 2023.

As the push for electric vehicles persists despite public reluctance, the once-promising solution for environmental concerns is revealing significant drawbacks. Issues like inadequate charging infrastructure, limited range, battery problems, high repair costs, and supply chain disruptions have plagued the industry.

Despite these challenges, proponents like Joe Biden continue to advocate for electric vehicles. However, the lack of consumer interest has led to substantial financial losses for manufacturers. Ford Motor Company, for instance, reported a staggering $4.7 billion loss in 2023 from its electric vehicle product line, exceeding earlier projections.

The company attributed the losses primarily to intense competition driving down prices. With Ford selling around 72,608 electric vehicles in the year, the losses translate to roughly $65,000 per vehicle sold, an unsustainable business model. Moreover, Ford anticipates further losses, projecting up to $5.5 billion for 2024, particularly concerning in an election year.

Despite Chief Financial Officer John Lawler’s optimistic remarks about future profitability and customer adoption, the reality suggests otherwise. Ford’s flagship electric vehicle, the F-150 Lightning pickup, saw diminished demand, leading to production cuts. This setback is notable, especially as Biden’s administration aimed for 50% of new vehicle sales to be electric by 2030.

Watch Biden test drive the Ford Lightning pickup here:

Automaker Suffers Major Losses of Billions Due to Electric Vehicle Investments in 2023.

General Motors has also dialed back production and tempered expectations, posting a $1.7 billion loss on electric vehicles in just the fourth quarter of 2023. Ford went on to state: “We said yesterday that we will launch our second-generation EVs when they can be profitable and deliver the kind of returns we want, and we will build a stand-alone profitable EV business. Meantime, we’re improving the contribution margin of our first-generation EVs.”

Elvis Presley’s 1962 Private Jet Sold to a New Owner

Elvis Presley’s Luxurious Jet Finds a New Home

Elvis Presley, the legendary King of Rock ‘n’ Roll, is remembered not only for his groundbreaking music and iconic voice but also for his impeccable sense of style and flair for the extraordinary. While many fans know about his love for blue suede shoes and his eclectic palate, fewer are aware of his keen eye for interior design—a talent that extended even to his private jet.

In 1962, Elvis purchased a Lockheed JetStar, customizing it to reflect his lavish tastes. The interior features elegant wooden paneling, plush red velvet seats, and luxurious carpeting, creating an ambiance that perfectly encapsulates his larger-than-life persona.

Elvis treasured the JetStar for over 35 years. After his passing in 1977, however, the aircraft was left idle. Among his collection of planes, the Lockheed JetStar held a special place, though he also famously owned a customized Convair 880—dubbed the “Lisa Marie” with the call sign “Hound Dog 1”—and another JetStar known as “Hound Dog 2.” These aircraft symbolized his extravagant lifestyle and passion for aviation.

For decades, the Lockheed JetStar sat stationary in Roswell, New Mexico, exposed to the elements. Its vibrant red paint has faded, but the aircraft remains in remarkable condition, considering its long dormancy. Recently, the jet found a new owner when a devoted Elvis fan purchased it for $260,000 at the Florida Mecum Kissimmee Collector Car Sale on January 8th. The sale was conducted via phone bids, with the winning offer securing a piece of rock-and-roll history.

The jet’s interior is a testament to Elvis’ distinctive taste. Its spacious cabin includes cozy red velvet seats and wooden accents, exuding the charisma synonymous with the King of Rock. An advanced television—state-of-the-art for its time—is integrated into the design. The cabin also features a compact kitchenette, complete with vintage appliances, where one might imagine Elvis preparing one of his iconic peanut butter, banana, bacon, and mayonnaise sandwiches.

Even the lavatory reflects his penchant for luxury, with its velvet accents and opulent sink. Compared to today’s cramped commercial planes, this jet offers a glimpse into the grandeur of Elvis’ preferred mode of travel.

For over three decades, the jet remained a silent relic of a bygone era. Now, it embarks on a new chapter, preserved by a fan dedicated to honoring Elvis’ legacy. Whether you’re an aviation enthusiast or an Elvis devotee, this plane stands as a fascinating artifact of the King’s enduring influence.