Posted on 10/30/2023 9:33:41 AM PDT by SeekAndFind
Toyota’s chairman and former CEO, Akio Toyoda, has long been a skeptic of the electric vehicle hype train—it was a big reason he stepped down from the top job at the Japanese carmaker earlier this year. Now, he can finally say, “I told you so.” With Elon Musk’s Tesla reporting disastrous third-quarter earnings last week, investors are realizing that EVs are no silver bullet for profit. “People are finally seeing reality,” Toyoda said on Wednesday.
Akio Toyoda stepped down from his role as CEO of Toyota earlier this year, in the wake of questions over his leadership resulting from the company’s slow adoption of EVs. Now the company’s chairman, he says that slowing sales vindicate his resistance to EVs, and that “people are finally seeing reality” about the technology.
The CEO pointed to slowing growth in the U.S. as proof that his company’s reticence towards EVs was correct. “There are many ways to climb the mountain that is achieving carbon neutrality,” he told reporters at the Japan Mobility Show this week.
Although EV sales growth has slowed, the market is still growing. The Wall Street Journal reports that global sales of electric vehicles grew by 63 percent in 2022, and have slowed to 49 percent in 2023. That slowdown has affected the American market in particular, where automakers GM and Ford are considering slowing production of electric pickups.
Toyoda claimed that this is proof that “if regulations are created based on ideals, it is regular users who are the ones who suffer.”
(Excerpt) Read more at fortune.com ...
It appears that Toyota is the only car company that doesn’t have its head UIA.
Heh heh heh. But the FRiends already knew this.
“if regulations are created based on ideals, it is regular users who are the ones who suffer.”
A wise man. The intent on forcing EV’s on everyone is to reduce the number of cars, forcing regular people into mass transit. The ruling elite then have freeways that are a lot less crowded to do their important work.
Similar to CONvid, we decline to participate. EVs are like budlight,..... Nope!
🙏🇺🇸🇮🇱👍
Right on.
Toyota was and remains a leader in developing hydrogen powered vehicles in addition to being the leader in hybrid vehicles. There is a reason they are the #1 auto manufacturer in the world: quality vehicles, smart management, smart designs, innovation in the right direction rather than pipe dreams.
I wonder how much Tesla’s carbon credits scam revenue will drop from this? The govt gives Tesla fake carbon credits to sell to oil refiners and such as a reward for ostensibly saving the planet with every EV sold. But if EV sales go down then the carbon credits allotted to Tesla should go down too, right?
“EV adoption an uphill battle”. well duh! uphill depletes the battery quick, fast and in a hurry. I am not shocked... I don’t have one! no garage fire worries either.
There are Toyotas and there are automobile manufacturers. That is the reason why Toyota is the greatest car company in the world and worlds apart from everyone else. Stands to reason they actually have a CEO who is a leader and opposed to virtually every other large company in the world with a worthless CEO. Never ever let a CEO run a company because a CEO stops doing what they did to become a CEO when they get there. Why not? You are at the top, no where to go from there. Ride it out 5 to 10 and walk away and sit on boards of other companies. Thus the reason they all suck at leadership.
How’s that Ford stock doing?
EVs are a stepping stone to the real answer to pollution free vehicles...hydrogen.
Most of us here already knew this. One only has to look at scientific facts to determine that battery powered EV’s are very bad in almost every way.
too bad, you looked the other way while FedGov put in new regualtions and blues states all over banned gas cars over a few years instead of fighting it while you could. Now, just get out of the car business because government ruined it and we'll all have to figure out how to convert our garages into stables for our next 1 horse power vehicles.
The problem with the government picking winners and losers is the technology isn’t settled yet. So while ‘electric’ sounded great there might have been better solutions if markets had chosen the leaders...
They're a stepping stone which should have been avoided. Like Compact flourescent bulbs which government mandated even though they sucked in every possible way. Thankfully LEDs saved the day but government didn't see that coming and so didn't plan for a ban on them in advance.
Hydrogen will be banned though, I bet. Too scary, it's flammable! And like a few accidents with Ford Pintos (the outrage, it turns out, was manufactured and Pintos weren't involved in any more fires than any other cars of the time) all sorts of exciting new regulations will come in.
Government ruins everything it touches. I used to say 'except the military' but they finally ruined that too.
Toyota does not have the US Government gun to their head.
fed investigation of toyota in 3...2...1
why do we need a stepping stone?
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