Jim Cramer Turns From F-150 Lightning Fanboy To Skeptic After Price Cut: 'Bloom May Be Off EV Rose'
- 10 months ago
Jim Cramer reversed his stance following Ford Motor Co.‘s 17% price reduction for its F-150 Lightning electric pickup truck.
What Happened: Ford’s decision to cut prices can be attributed, at least in part, to the diminishing novelty of electric vehicles among many Americans, Cramer reportedly said.
Cramer, the host of CNBC’s Mad Money, also raised concerns about the potential for a cost-cutting spiral.
“One thing we do know after today is the bloom may be off the electric vehicle rose,” he remarked.
This had to happen eventually when there is mass adoption, Cramer said, adding “it just happened a little earlier than I expected.”
What Happened: Ford’s decision to cut prices can be attributed, at least in part, to the diminishing novelty of electric vehicles among many Americans, Cramer reportedly said.
Cramer, the host of CNBC’s Mad Money, also raised concerns about the potential for a cost-cutting spiral.
“One thing we do know after today is the bloom may be off the electric vehicle rose,” he remarked.
This had to happen eventually when there is mass adoption, Cramer said, adding “it just happened a little earlier than I expected.”