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Number of electric cars sold has PLATEAUED, with inventory piling up and prices slashed - but sales of gasoline vehicles remain strong
Daily Mail ^ | 11/18/23 | Bethan Sexton

Posted on 11/18/2023 4:18:03 AM PST by Libloather

Sales of electric vehicles in the US have plateaued even though sales of cars overall remain healthy - suggesting many buyers are in no mood to ditch gasoline models anytime soon.

Over the last six months, overall car sales have been higher than they were for the same months in 2022 or 2021 - when demand for EVs was still increasing.

But in 2023, EV sales during the same period have stalled at around the 100,000- a-month mark following a period of rapid growth.

The reduced demand has seen inventories stock piled, with prices of EVs slashed over the last year.

In October the average new EV went for $52,000, compared to $65,000 twelve months prior.

Gasoline vehicles however remain the most popular choice across the US, with the gas-guzzling Chevrolet Silverado top overall.

Car sales are up two per cent compared to a year ago, despite widespread industrial action in the last few months which ground many plants to a halt in recent months.

The figures have prompted many EV manufacturers to scale back their operations amid apparently waning demand.

Ford and General Motors have both delayed investments, while Tesla Chief Executive Elon Musk suggested on the company’s October earnings call that he might slow down.

The billionaire has previously blamed higher interest rates for the stagnation in the EV market, however the comparatively strong sales of vehicles overall suggests there is more at play.

The high price of EVs, which tend to cost more to produce than traditional cars, has been cited in a recent survey by S&P Global Mobility examining customer's hesitation to purchase.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: automotive; ecars; electric; ev; gasoline; inventory; plateaued; vehicles
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To: wetgundog

I suspect government agencies make up a huge portion of those sales.


21 posted on 11/18/2023 5:05:39 AM PST by Alberta's Child (If something in government doesn’t make sense, you can be sure it makes dollars.)
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To: nicollo

You got it!


22 posted on 11/18/2023 5:06:29 AM PST by Carriage Hill (A society grows great when old men plant trees, in whose shade they know they will never sit.)
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To: nick0786bazpur

What the heck is going on in Alpharetta? Are they finally bouncing EVs?

Car tips over at Alpharetta shopping center

https://www.fox5atlanta.com/news/car-tips-over-at-alpharetta-shopping-center


23 posted on 11/18/2023 5:09:33 AM PST by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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To: Gen.Blather

I think some guy who ran Toyota figured that out and was criticized. They now say he was late to the EV parade but will have a superior product for part of their fleet.

What gets me in those in the UAW who cannot see their jobs are heading to China. There maybe some assembly work in the US left but not much else. But I guess there is a bright side. They can get into infrastructure repair to accommodate the damage by the weighty EVs!


24 posted on 11/18/2023 5:16:18 AM PST by Mouton (US Home to one party rule)
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To: Pontiac
I guess it depends on where you live. A regional friend told me about this. Check out the level of crazy when leftists control everything . . .

All brand new Maryland homes MUST have EV charging space

25 posted on 11/18/2023 5:19:09 AM PST by Sgt_Schultze (When your business model depends on slave labor, you're always going to need more slaves)
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To: All

"Oh man, poll numbers showing me with only 14% approval really hurt. And now this.....not buying EV's."

26 posted on 11/18/2023 5:21:16 AM PST by Liz (Women have tremendous power — their femininity, because men can't do without it. Sidney Sheldon)
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To: Libloather

“Some analysts have suggested wealthy ‘early adopters’ keen to get in on the electric car revolution have now all bought theirs - with regular drivers on modest incomes far more hesitant to do so. “

Income is partially responsible for the slowdown. Wealthier households bought EVs as a second or third car to travel locally. But the lack of infrastructure, read charging stations, also inhibited sales. And the elephant in the room is we don’t have the grid to support widespread use of EVs.


27 posted on 11/18/2023 5:29:16 AM PST by kabar
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To: Mouton

I think it was Hillary Clinton who told the coal miners they needed to learn to code. I’m trying to teach a challenged 26-year-old to learn to drive. If you don’t have the capacity for something, it’s going to be hard to switch from car assembly to infrastructure repair. There’s that normal IQ distribution curve again. The guys on the left side of it will have a hard time learning anything new.


28 posted on 11/18/2023 5:29:24 AM PST by Gen.Blather (Wait! I said that out loud? )
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To: Sgt_Schultze

The real world is not ready for this kind of requirement.

There is no standard for electric vehicle charging equipment.

And there shouldn’t be.

Different batteries require different chargers.

The technology has a lot of shaking out before any technology really can hope to dominate.


29 posted on 11/18/2023 5:31:30 AM PST by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: Libloather

The people that needed electric cars to hold their noses up to their friends, neighbors, and in a few cases, other FReepers, now have their EVs.

The rest of country has made up its mind based on a cold, hard, comparison of both types of vehicles.


30 posted on 11/18/2023 5:33:33 AM PST by BobL (I eat at McDonald's and shop at Walmart, I just don't tell anyone)
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To: nicollo

They don’t have to shut down gas stations or prevent battery replacements to get consumers our of ICE autos, they just have to make traditional autos impossible to build by enacting impossible “environmental” standards for them:

April 1, 2022 | Washington, DC

The U.S. Department of Transportation’s National Highway Traffic Safety Administration today announced new, landmark fuel economy standards which follow President Biden’s executive order to drive American leadership forward on clean cars. The new standards will make vehicle miles per gallon more efficient, save consumers money at the pump, and reduce transportation emissions.

The new Corporate Average Fuel Economy standards require an industry-wide fleet average of approximately 49 mpg for passenger cars and light trucks in model year 2026, the strongest cost savings and fuel efficiency standards to date. The new standards will increase fuel efficiency 8% annually for model years 2024-2025 and 10% annually for model year 2026. They will also increase the estimated fleetwide average by nearly 10 miles per gallon for model year 2026, relative to model year 2021.


31 posted on 11/18/2023 5:37:32 AM PST by Stosh
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To: Libloather

This proves that US consumers are far more intelligent than government bureaucrats.


32 posted on 11/18/2023 5:43:11 AM PST by norwaypinesavage (The power of the press is not in what it includes, rather, it's in that which is omitted.)
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To: Libloather

Biden just needs to outlaw the sale of gasoline. That will fix the problem! /s


33 posted on 11/18/2023 5:51:07 AM PST by CatOwner (Don't expect anyone, even conservatives, to have your back when the SHTF in 2021 and beyond.)
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To: Gen.Blather

Like most new inventions they take time to find their place in
the usage pattern of society/work needs. There will be some
need but not for all things people are involve with. jmo.


34 posted on 11/18/2023 5:57:12 AM PST by deport
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To: deport

I don’t think there’s any actual “need.” The “need” has been artificially generated by the equally artificial “Global Warming.” Take away that and there’s no “need.” (Only six point something years remaining. Then, we all DIE!) There’s your “need.” And if this was the first artificially generated ten-years-and-we-all-die crisis, converting us all to a new technology would work. But I can’t even count all the artificial ten-years-and-we-all-die crises, starting with peak oil and the coming ice age, all by 1975.


35 posted on 11/18/2023 6:06:12 AM PST by Gen.Blather (Wait! I said that out loud? )
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To: Gen.Blather

Right from the beginning people with calculators were saying, hey, when everybody has them, how will we charge the batteries?


Some of us can still do math in our heads but we are dwindling..................


36 posted on 11/18/2023 6:08:06 AM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: Gen.Blather

Tesla has a definite motive and is very successful in achieving it.

The motive is to make money, lots of profit


37 posted on 11/18/2023 6:09:02 AM PST by bert ( (KWE. NP. N.C. +12) Joe Biden is a kleptocrat)
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To: Libloather

Saw a news item today that said charging an electric vehicle cost as much as if it were a $17/gallon gas fill.


38 posted on 11/18/2023 6:09:04 AM PST by antidemoncrat
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To: Libloather

Governments and EVs the 2 disasters


39 posted on 11/18/2023 6:12:13 AM PST by butlerweave
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To: Libloather

EV vehicles, most expensive paper weights ever.


40 posted on 11/18/2023 6:12:54 AM PST by duckman ( Not tired of winning!)
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