CNBC's Jim Cramer on Monday analyzed Ford Motor 's move to slash prices for its electric F-150 Lightning pickup truck.
Cramer said he thinks the price cuts are due at least in part to the novelty of EVs wearing off for many Americans.
It doesn't help, Cramer said, that these cuts come just a few days after Tesla unveiled its first Cybertruck, the optics of which he called "suboptimal."
"Ultimately, unless your costs come down — and that's what's happening with Ford — there will be no profit anyway," Cramer said.
"But if an auto company doesn't make electric vehicles, that auto company will eventually be doomed, we all know that."
Persons:
CNBC's Jim Cramer, Cramer, Ford, Tesla
Organizations:
CNBC, General, Ford