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 ...
“Euphoria”
Anybody here feel any of that? Having troubles with the post-euphoric letdown?
A lot of people buy an EV, don’t like it and go back to gas.
Experience is a good teacher for many.
The Environmental Vehicle(EV) is the complete opposite ,LOL
Amen; I’ve long felt that was the optimal use of both EVs and wind/solar.
Some EV drivers are finding that their tires wear out more rapidly than they had with traditional internal combustion-driven vehicles—in some cases, 20 percent faster.
https://www.sciencefriday.com/segments/electric-vehicle-tires-wear-out/
Can they finally be moving on from this failed experiment?
It's because they had no choice, Wall Street, UAW, EPA, and DOT are forcing ESG on the big US automakers.
That's why the psychotic Jennifer Grandholm keeps winging about an EV comeback, they are trying to force EVs only.
Toyota can be more honest about this since they aren't as dependent on these leftist entities.
EVs are equally dumb. I especially liked the picture of the guy who hooked his Tesla to a Honda gas generator.
Something I would like to know is if this news is accurate or not. I know a person who just insists that the EV is definitely the wave of the future; can’t be convinced otherwise, or that manufacturers are scaling back on these turkeys. Yes, I would imagine he he votes Democrat & insists that any news about EVs & their many problems is just bogus news. I won’t argue with him any more; his mind is made up.
Don't forget the punishment aspect for not going along with the administrative state. No corporation wants to go through regulatory hell. Then there's the aspect of generational marketing; the car makers wanted to build street cred among Gen Z.
IMHO it'd probably be wise for a car maker to have maybe 10% of their products be EV to cater to that market. Analogous to most pickup buyers not needing a F-350 diesel, but some do. Likewise, most people aren't in a situation where buying an EV is practical, but some are.
I have a picture of a Tesla in southern NH being charged by a gasoline generator during a power outage a couple years back.
The guy saw me taking a picture of it from the street in front of his house as I drove by in my Tacoma. He looked like he was pissed. Like I caught him in a lie. Which I did.
The public was supportive of EV’s until they started buying them. As is so common, everyone was an expert from a distance. And virtue signaling had something to do with it.
exactly...man, who is running these car companies?. They cant be that stupid. This is what happens when the gov starts “subsidizing”...
Yes, Dean Kamen(the inventor and owner of DEKA) was smart to sell off the company when he did.
Here in NM we idiotically follow California’s lead and are also banning the sale of ICE vehicles by 2035.
The big question now is what will come first. A reversal of that policy, or a Supreme Court decision allowing people to buy cars in other states and register them in New Mexico.
You see, people have already started plans for automotive supercenters on the borders of the states that don’t allow sales of ICE vehicles. The eco-states are countering with preparing laws that do not allow you to register ICE vehicles purchased out of state. Some legal pundits claim that this violates free trade between the states. Proponents claim that states have the right to determine what kind of vehicles are driven in their state.
It is going to be a mess.
Something I would like to know is if this news is accurate or not. I know a person who just insists that the EV is definitely the wave of the future; can’t be convinced otherwise, or that manufacturers are scaling back on these turkeys. Yes, I would imagine he he votes Democrat & insists that any news about EVs & their many problems is just bogus news. I won’t argue with him any more; his mind is made up.
That’s too funny. They (libs) are such hypocrites.
Ignore useful idiots / fools ..
KGB defector - Yuri Bezmenov explained ..
You forgot to add “other than that EVs are great!!!”
Automakers once again find out how expensive hubris is. And once again, they have been sent a message that it is the consumer, not them, who set the market. And as in times past, they won’t get the message.
The sad fact is that buyers of ICE vehicles will continue to subsidize automakers’ failure for years to come.
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