People understand a lemon when they see it. Sadly, the very rich prefer to show virtue over financial sanity. Buy an unstable EV and get credit for saving the Earth—even if you can’t get to the office or the hospital when you have to.
“As a result, electric cars and trucks are piling up on dealer lots, causing auto companies to reassess their investment plans. It takes a dealership around three weeks longer to sell an EV than a gasoline vehicle, according to data from car-shopping website Edmunds. A year ago, battery-powered models were selling faster than their gasoline counterparts. [Emphasis added]
Aside from a lack of electric charging stations and consumer nervousness over reliability, the cost of EVs remains a prime reason why Americans are choosing gas-powered cars instead.”
GM loses $36,000 on every EV they sell. Ford does better, they only lose $6,000. When will the stockholders sue to stop this abuse?
Report: Despite Billions in Government Investments, Electric Vehicles ‘Piling Up on Dealer Lots’
JOHN BINDER, Breitbart, 12/27/23 https://www.breitbart.com/economy/2023/12/27/report-despite-billions-government-investments-electric-vehicles-piling-up-dealer-lots/
Electric Vehicles (EVs) are “piling up on dealer lots” as American consumers continue buying traditional gas-powered cars at faster rates, the Wall Street Journal reports.
According to the Journal, despite major investments from the federal government and automakers into EVs, Americans are not warming to President Joe Biden’s green energy agenda the way the administration and the industry had predicted.
The Journal reports:
As a result, electric cars and trucks are piling up on dealer lots, causing auto companies to reassess their investment plans. It takes a dealership around three weeks longer to sell an EV than a gasoline vehicle, according to data from car-shopping website Edmunds. A year ago, battery-powered models were selling faster than their gasoline counterparts. [Emphasis added]
Aside from a lack of electric charging stations and consumer nervousness over reliability, the cost of EVs remains a prime reason why Americans are choosing gas-powered cars instead.
Figures published in the Journal show that the average EV cost buyers nearly $52,000 last month, while the average gas-powered car cost less than $45,000. Industry experts said they do not expect EVs to get any cheaper until 2025.
Also an issue for automakers is that EVs are primarily being bought up in only a few states and cities. For example, from July through September, almost 25 percent of all EVs sold were sold in California, and the top four metropolitan areas for EVs were in California.
The Biden administration’s massive taxpayer-funded investments into EVs have yet to come to fruition. For instance, the $7.5 billion allocated to build electric chargers across the United States has yet to produce a single charger.
As Breitbart News recently reported, U.S. car dealers have urged Biden to abandon his EV mandates and carbon emission regulations, which would effectively force all-electric cars on consumers, pointing to a widespread lack of demand among Americans.
Likewise, a Consumer Reports survey reveals that EVs have almost 80 percent more problems than gas-powered cars using traditional combustion engines.
