Posted on 03/14/2024 7:34:50 AM PDT by george76
Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans..
consumer demand for EVs hasn’t shown up in the way executives had expected
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The buzz around electric vehicles is wearing off.
For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike, based in part on their visions for an EV future.
Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz , Volkswagen , Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans.
Even U.S. EV leader Tesla , which is estimated to have accounted for 55% of EV sales in the country in 2023, is bracing for what “may be a notably lower” rate of growth,
...
ESG investing — or investing geared toward environmental, social and governance principles — emerged in recent years and
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If former President Donald Trump is reelected, he’s expected to scale back or remove the fuel economy mandates, as he did during his first term in office.
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Automakers operating in Europe face stricter governmental EV regulations, which currently aim to ban sales of traditional, fossil-fuel vehicles by 2035. However, changes have already been made to the regulations and conservative groups such as the European People’s Party have called for dropping the ban.
(Excerpt) Read more at cnbc.com ...
Ping.
“consumer demand for EVs hasn’t shown up in the way executives had expected”
I still find it incredible that auto manufacturers went all in on something that was obviously horribly flawed.
Toyota is the only one that kept reality in focus.
So unexpected. /sarc
Awwwww.........Uncle Joe will not be happy, GMFord-Chrysler..............
Why not? The assumed that the administrative state will bail them out when it fails horribly so what is the real risk?
Automakers trotted out optimistic sales forecasts for electric model“
These forecasters should have all been fired. Even a lay person could see once the problems became known sales would tank. These “experts” cost the companies Billions
“Why not? The assumed that the administrative state will bail them out when it fails horribly so what is the real risk?”
The risk is getting in bed with a whore and expecting to be protected. Anyone putting their financial future in the hands of politicians who are risking nothing is just plain stupid.
Thank you for that info. I was wondering about that.
Tesla and Polestar: still the finest driving cars I’ve ever rented
glorified golf carts.
Buyers remorse will hit hard when the batteries in these electric carts have to be replaced.
Nothing new, first electric cars were built before the Model T. They didn’t last then, not going to last now...
Good.
The “reformers” tried to push too much, too soon with their mandates and totally artificial scarcity schemes, in attempting to make hydrocarbon fuels so expensive that the overpriced EVs seemed like a bargain. But the infrastructure to charge up these EVs was simply not there.
The house plant has outgrown its planter, and has become rootbound.
The actual cost of charging an electric vehicle is $17 per gallon, and automakers are losing $36,000 per EV they sell. Its enriches China and makes the US dependent on Chinese batteries and minerals controlled by China.
Ford EV sales are almost nonexistant. High prices, big losses per vehicle sold..
https://freerepublic.com/focus/f-bloggers/4193262/posts
EVs depreciate faster than they accelerate. Only a complete fool would buy a Ford or GM EV. Virtue signaling elites buy Teslas.
I think EVs are a great idea for BICYCLES.
Just like cordless drills and other power tools that run off of a battery instead of plug in electrical cord are a great idea. The volume of power tools sold today that are battery operated vs. electrical corded must be 5 or 10 to 1. Maybe more.
There are literally BILLIONS of people who can not afford to own an automobile. Many can only afford a bicycle.
However, a battery operated bike is a life changing product for them.
E Bikes are all over the cities now because they make more sense from a parking and commuting standpoint. The only MAJOR issue is that the batteries occasionally start on fire.
I have even been tempted to buy one myself like this:
https://eridepros.com/product/pro-ss-19/
I even spoke to one of the owners of this company about becoming a dealer in New England. They currently do not have one. This bike goes 60 MPH. There is very little maintenance.
I figure that everybody who intended to buy EVs already did; so where’s the demand going to come from?
It’s all downhill from here. The other shoe to drop? That would be how to dispose of all that toxicity.
Why would people not be buying electric cars? Let us count the ways:
1. They tend to run about $10,000 more than a similar standard car.
2. They can spontaneously ignite. Once ignited, they are very difficult to put out.
3. Per no. 2, insurance companies are raising rates on EV’s. What would be a simple fender-bender in a gas car, can be a totaled car in an EV because a little damage to the battery pack can be very costly.
4. They may be fine for tooling around town, to the store, etc. but they are a problem for cross-country travel. Charging stations are few and far between.
5. Clearly, the more people who own them, the more no.4 is a problem. See recent incident with Jennifer Granholm demonstrating “how easy it is” to travel and recharge. (Her people went ahead and blocked out a charging station from users in line, so she could arrive and charge immediately).
6. Replacement batteries tend to cost about half the price of the car.
7. Some very extensive infrastructure changes (some say impossible) are needed to make them truly functional and practical.
8. Because of the batteries, EV’s are much heavier. Tires wear out typically in 13,000 miles, not typical 40,000 for ICEs.
9. Because of 8. above, pollution in the form of soot (the tire rubber particles) is greatly increased.
10. Unlike ICEs, EVs have a much lower range in cold weather, due among other things, the heater uses battery power. A heater in an ICE vehicle uses heat generated that would otherwise be discharged.
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