 Are they gaslighting you about the endurance pickup truck? I think they are I think the potential revenue here is astounding. I just want to start with this footage of the endurance. I want to note to all the hodlers out there and interested parties that we in my opinion are being gaslighted about the endurance about the Lordstown Motors potential TAM and how starved the fleet market is for vehicles especially BEV vehicles especially exactly what the endurance is a BEV pickup and this is federal municipal and commercial fleets let me go on here to show that despite this stock price which I believe is unwarrantedly low the potential earnings and revenue from this segment of the endurance at full production is billions okay I'm gonna prove that with this video this next section here I'm gonna go over Ford's recent earnings call just a day or two ago and they're reporting and I want you to note I'm gonna play a report on it by Phil LeBeau on CNBC note the fleet income the fleet income fleet sales income saved for this film John this is a beat on the top in the bottom line by Ford for the first quarter the company earning 63 cents a share well above the street at 41 cents a share revenue way above expectations coming in at just over 39 billion dollars the street was at just over 36 billion dollars and adjusted EBIT margin of 8.1% in the first quarter for a comparison with the first quarter of last year that's a sizable increase it was 6.7% last year with free cash flow of 693 million dollars remember this is the first quarter where Ford is breaking out the performance of each division that's significant and here's why we'll go over each of them the ICE division which is known as Ford blue this is your internal combustion engine vehicles huge quarter 2.6 billion dollar profit on a 10.4% margin the EV division the model E lost 772 million dollars and the commercial vehicle division known as Ford pro had a profit of 1.36 billion dollars for the year Ford is reaffirming its guidance of planning to earn between 9 and 11 billion okay this is from tech crunch and this is just a review on this is May 2 Q1 earnings rebound as trucks and fleet sales drive profits now I'm just going to read some highlights out of here revenue of 45 billion storming class the estimates of 36 billion 20% improvement over the same time last year Ford's net income on a gap basis is 1.8 billion compared to a two billion dollar net loss in 22 and that was from a write down for the e-business even a was 6 billion for pro which is Ford's fleet division which would represent double 2022 earnings okay so that's 100% growth and that's a 6 billion dollar market segment for pro reported 13.2 billion okay EBITDA a 28% increase from last year okay that in EBITDA terms 1.4 4 billion which is 3x from 2022 so that's a 300% increase that gross was driven by both Ford's transit and e-transit commercial vans of which Lord's time motors has a bev commercial van almost ready to go prototype as well as a 64 increase in 60% increase in software subscriptions this is for fleet management software which Lord's time motors also offers I'm just trying to 13 billion dollar niche you can go over these numbers and replay this the point is this is a breathtaking market segment and I want to tell you you know how Ford is making this money and I may be repeating myself here but I'm just going to say it again they have set up a quota system for fleets fleets are starving for vehicles they're at end of life okay in this next section I'm going to quote some of my own videos on the insatiable fleet demand I want to put up some placards here so that you can easily find these on YouTube and this is a past video I did and this is describing the state of the fleet market right now in the United States and it's shocking it's been for the past two years has found that most OEMs are not soliciting new fleet customer you remember that was a pretty chaotic time I believe it's a positive development that model year 2024 fleet ordering for some major OEMs will once again be based on a pre-approved allocation volume and some might disagree with me and I understand why a middlely many fleets will not get all of the vehicles they need based on past experience with an allocation system but it's better than being on the wrong side of an unexpected early closure of a fleet order bank you might want to replay that orders weren't met last year and they're going to an allocation program this year for the 2024 model so in a fleet allocation environment most OEMs require pre-approval to place orders based on an allocation determined by a fleet's past order volumes and here's an example of an allocation process for government fleets looking to order the all-new 2023 model Ford Super Duty so the Ford Super Duty will have a short model year with only a limited number of trucks being produced for the 2023 order cycle so for example the order banks for government orders for the 2023 Super Duty will open next Monday on November 28th 2022 and they're going to close on January 13th 2023 each government fleet with a Ford Fin number a fleet identification number gets an allocation based on their average Super Duty purchases over the past five years the actual allocation will be approximately 55 to 60 percent of whatever that average number is and it's not uncommon for most OEMs to restrict fleet order allocations for legacy customers in fact fleet availability being as tight as it's been for the past two years has found that most OEMs are not soliciting new fleet customers so when you look at the ordering environment from a historical perspective the transition to a fleet ordering allocation system has truly been a significant milestone that's never before happened in the history of fleet management the last time end user demand exceeded production capacity was immediately after the conclusion of World War two as auto manufacturers stop for production and switch back to the production of automobiles end user demand simultaneously spiked okay this is a placard from TechCrunch behind the video audio here this is what the fleet sales market is right now World War two level rationing a cartel system OEMs not taking on new customers inflated prices constricting supplies this is like OPEC supplying fleet vehicles this is the market that Lordstown would launch its endurance into wide open transparent pricing unlimited production and supply that's what we get with a ramp of the endurance okay I'm just going to close this out with some footage of the endurance my apologies that placard was MSNBC or sorry CNBC listen here's the deal the stock price of Lordstown Motors is not representing the opportunity we now have a wide open fleet market especially for battery electric vehicles which are mandated by many federal and municipal and even commercial fleets in some states and the endurance is a fleet bev pickup now the main competition really the only competition to the endurance is the Ford Lightning Pro which is in limited supply and limited production I believe their allocation last year was 10,000 vehicles I don't know if they even made that allocation so we have a market right now a fleet market which the endurance presently is devoted to which is operating under wartime rationing conditions OEMs are not accepting even accepting new customers if you're a new customer to Ford if you can't get your fleet allocation and you want to you are dealing with Chevy you want to go to Ford they're not accepting new customers so this is a cartel system that the OEMs have worked out for these fleet vehicles and they are OPEC they are OPEC they are going to decide who gets how much output they are going to decide at what price that output is going to be there is no choice among the fleet consumers as to which vehicles they are going to get or the number they're going to get so imagine the endurance goes into production they are going to be able to provide vehicles to any and all fleet customers okay and they are going to be able to sell at their price because the competition it's just it's just murdering these fleet companies so and you add to that that under a lease model especially all of these fleet companies are going to get the tax credit or the leasing company that's going to buy the vehicles and lease them to the OEMs this is a wide open market for the Lordstown endurance there is the competition is so hot I mean let's put it this way they're leaving a giant hangar door opened in the market for someone to come in and supply vehicles it's there's I mean I'm at a loss for words anyway I do believe that there's a lot of gas lighting going on I think that right now the endurance is commercial it is a finished product ready to be sold the company and Foxconn have received their CIFAS approval for the investment this stock price has been in my opinion manipulated down by outside forces I think there is a good argument for resolving these problems and working towards getting the endurance into full production I also think that you know an OEM partner that would be looking for a battery electric pickup truck to come into this market again to compete with the cartel like pricing and output levels of Ford and the Ford lightning I think that I think again the stock price does not represent the opportunities here and I do think that the opportunities for the endurance for Lordstown motors I do believe place price product quality the time is right for this product in this market especially with this cartel controlling fleet sales I mean wow could there be a better opportunity anyway this is MXUX I hope you like the video I'm not an attorney financial advisor or engineer this is all my opinion I'm not telling you to buy sell or hold any stock this is a business case study please do your own DD verify any information provided to your own satisfaction this is MXUX I hope you like the video good luck in the market