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Auto Industry · Corporate Strategy · EV Market · Financial Losses
Major automakers and pure-play EV companies have collectively incurred nearly $114 billion in losses on their electric vehicle ventures, prompting significant strategic realignments and job cuts across the industry.
General Motors announced a $7.1 billion hit, with $6 billion attributed to its EV strategy, while Ford Motor Co. reported a staggering $35.1 billion in total EV losses, including a $19.5 billion write-down.
These losses, averaging $20,887 per EV sold across 5.4 million units from 2022 to Q3 2025, highlight a challenging market where North American EV sales grew by only 1% in 2025, and Canada saw a 41% drop. Tesla's sales declined 9% in 2025, and Rivian's deliveries fell 18%, with Kia experiencing a 50% sales drop in December.
Porsche also recorded $1.9 billion in EV investment losses, shifting back to gas-powered vehicles due to tepid demand. The industry faces widespread layoffs, including over 1,400 at Ford, 3,400 at GM, 35,000 at Volkswagen by 2030, and 30,000 at Mercedes, as companies adjust to slower-than-anticipated EV adoption outside of China.
