Posted on 09/24/2024 6:17:44 AM PDT by Red Badger
Last week, the House approved a resolution to block the Biden administration’s emissions rule that would require more than half of the automobiles sold in the new-car market to be electric by 2032. The 215 representatives who voted for the bill, including eight Democrats, are far more in tune with most of the country than the White House. The “deplorables” and “bitter” clingers of the industrialized world are rejecting electric vehicles.
Nationwide, the inventory of unsold EVs had grown by nearly 350% over the first half of 2024, creating “a 92-day supply — roughly three months’ worth of EVs, and nearly twice the industry average,” says Axios, which is 54 days for gasoline-powered vehicles.
Ford, which lost nearly $73,000 on each EV it sold in the second quarter of 2023, continues to yield to reality, now ditching its plans to build a large electric SUV. This “course change,” says Just the News, “comes amid lower-than-expected demand for electric vehicles.”
The company has also “pushed back to 2027” plans for “another electric vehicle project for a pickup truck.”
“Based on where the market is and where the customer is, we will pivot and adjust and make those tough decisions,” said John Lawler, Ford’s chief financial officer.
And here’s the market’s message:
“Of the U.S. consumers planning on purchasing a new vehicle in the next 24 months, only 34% intend to purchase an EV, down 14% from 48% in the 2023,” says Ernst & Young’s Mobility Consumer Index, “a global survey of almost 20,000 consumers from 28 countries.”
The story is much the same in Britain. EVs “are losing value at an ‘unsustainable’ rate as a slowdown in consumer demand sends used car prices tumbling,” the Telegraph reported last week. Meanwhile in France, “the EU’s second largest market for battery electric vehicles behind Germany,” deliveries have fallen by a third.
Germans are likewise losing interest, as the country has “suffered a ‘spectacular’ drop in electric car sales as the European Union faces growing calls to delay its net zero vehicle targets,” the Telegraph said in a separate story.
National Public Radio, which speaks to and for the political left, argues that “EVs are better for the environment than gas cars,” and laments that more Americans have doubts about electric vehicles’ eco-integrity. EVs, says NPR, “are caught up in the culture wars.”
There might be some truth there. Many Americans are fed up with elected and unelected officials forcing their preferences on them. It’s a culture of independence at war with a culture of coercion.
We also venture to say that a significant number in this country disfavor EVs because they don’t want to be seen as virtue signalers putting their green cred on display. They see the shallow exhibitions of eco-activism every day and they don’t want to be lumped into that crowd.
There are other reasons, of course: EVs’ steep sticker prices, their short ranges and extended charging times (when a working charger can be found), the high costs of insuring and repairing them, their drain on the grid, and their bogus reputation (they’re not zero-emission vehicles). There should no astonishment that, as documented by Wired, EVs are losing as much as half of their value in a year, with “some electric car brands … hemorrhaging value, with the worst losing as much as $600 a day.”
It’s not within the government’s limited range of authority to tell Americans what they can and cannot drive based on cars’ various energy sources. Yet policymakers issue mandates with no regard for the short leashes that should hold them back. Maybe consumer backlash, followed inevitably by voter backlash, will encourage them to rethink their agenda.
— Written by the I&I Editorial Board
When we can fully charge an EV in 10 minutes and drive 400+ miles at 70 mph, in comfort and safety, then we will buy one. Sincerely,
The Motoring Public..........
LOL, what a nightmare these things can be.
My daughter and her husband recently rented an EV to meet us about two hours away - they had to wait for the thing to charge up, which took a while and made them late for the event we were attending - they came to our hotel, which had chargers, but ONLY for Rivians and Teslas, SIL tried to hook up and the charger didn’t fit their EV. They didn’t have enough “juice” to drive the EV back to the rental place so my SIL had to scramble to find the correct charger, which was at a shopping mall not too far away - and pray they were in working order. They had to leave the event early because of the charging time. Last words from my SIL: “Never Again.”
I think the worst thing about EV’s is what happens to them when in an accident or the battery just goes bad. The fires need millions of gallons of water. Fire depts here usually just let them burn themselves out which would be fine if it wasn’t shutting down major freeways for 8 hours at a time. We recently had a tesla truck that caught fire and shut down highway 80 outside of Truckee for almost an entire day. The delay was so bad that the ultra liberal assembly in sacramento is currently looking to delay Gavin Newsom’s EV mandate.
There is a lesson about EVs here if only people would listen. What will they do when storage for broken & unsold EVs becomes a probable? At least it might turn out to be a visible object lesson.
Almost half of the existing homes in thus country still have a 60A service.
Give them free EVs and they STILL couldn’t charge them safely unless they turn off eveything else in the house.
For hours.
Deep State doesn’t care.
I’ll buy an EV when they become hot investments in the collector car market, which will probably be never.
...and not have to worry about the car catching fire or exploding beneath us.
The clock is ticking in California and a few other states.
In 2035, it will be illegal to buy new internal combustion engine vehicles in California and some other states.
Supposedly, you can still buy a used car after that date. But nobody seems to know for sure what’s going to happen.
Gavin Newsom and his ilk Are trying to force feed electric cars.
What will happen? California will look more and more like Cuba.
Most will require a new separate 220V line from the power pole with its own meter..............
Anything that requires a subsidy is not sustainable.
Under Klaus Schwab his World Enslavement Forum and the UN’s New World Order everyone will be wearing uniforms and walking anyway
The real problem is Bidenomics.
The inventory of unsold gasoline vehicles is also high, has been throughout this model year. In June, unsold ICE inventories were 76 days’ worth, currently the average (sez here) is 88 days’ worth (3.2 million vehicles). Some dealers are going to fold up.
Out here in The Boonies the big local dealer (it’s visible from the Moon, I’m pretty sure) is lousy with trucks, Jeeps, and some muscle cars. About six years ago they added a separate building for used vehicles (including certified) and that would up shuttered for a couple of years due to the COVID hoax. They reopened it a couple of years ago, I’d imagine the stock turn in their used inventory is keeping them afloat right now.
The 2025 models are arriving.
In June Tesla had just north of 46000 unsold vehicles out of a total production of about 2 million a year (900K in the US plants). They were parking them in rented lots, some of which were at huge empty shopping malls, because that retailing model is on the way out.
The common thread is that potential buyers don’t have the cash and/or credit line (and/or job/income) to drop $45000 on a car or $65000 and up on a truck.
My little sedan was (I believe) the cheapest new model then available, and ran a bit more than $24K — and I had to wait for delivery because of the trucking crunch.
I hate what the elites are trying to do to my progeny.
Our local dealerships, all brands, seem to have only BIG TRUCKS and muscle cars on their lots. All going for $50K+ up to $100k. No sedans at all. The Ford dealer has nothing but trucks and three Mustang GTs and a couple of Mach-E’s which no one wants, and the Chevy dealer has trucks and used cars.........
And throw in a non combustible battery while they’re at it
I thankfully am old enough that I should be able to die without having to buy one of these things. Maybe I’ll be forced to buy a hybrid at some point but there should be used gas cars around until I’m too senile to drive.
A local Circle K recently opened 3-4 EV charging positions. I guess it was supposed to be a big deal - our (Democrat) Governor was there for some kind of grand opening.
I’ve never seen a single car sitting there charging. I guess the owners don’t want to hang out at a Circle K for 3 hours while the car charges up.
And less weight so it won’t eat tires and roads...............
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