You must normally have a big electric bill then. Thatâs the problem with statements like that. If you are already using a lot of electricity, charging the car may not look significant.
âElectric vehicle sales are expected to hit a record 9% of all passenger vehicles in the U.S. this year, according to Atlas Public Policy. That will be up from 7.3% of new car sales in 2022.â
, , , the U.S. is expected to add 1 million new EVs to its roads this year.
EV and internal combustion engine (ICE) inventory started the year off at about 52 daysâ supply, according to Cox Automotive. Daysâ supply is a way of measuring how many vehicles a dealer has on the lot. In the case of a 52 daysâ supply, if automakers were to stop producing cars today, dealers would be able to keep selling cars for about that number of days before running out. Since January, EV daysâ supply has skyrocketed while ICE supplies have hovered between 52 and 58 days. EV supply at the start of October was 97 days, down from the peak inventory of around 111 days during early July.
In August 2023, it took about twice as long to sell an EV in the U.S. as it did the previous January. Meanwhile, gas-burning vehicles were still selling briskly. . . .
EV leader Tesla has slashed prices dramatically, sales at some electric vehicle startups, such as Lucid, have disappointed, and companies like Ford Motor have ramped up hybrid production as demand for their EVs has leveled off. . .
We have to pay car makers just to make them.
We have to pay car buyers to buy them.
And yet inventories are piling up and there is more and more talk about the next round of checks we have to right just to try to save this sinking ship. (Ya gotta pay to put in charging stations on every street corner. EV buyers re like "Ew yech I wonât own one of those if I have to drive three blocks to charge it. etc.)
Inventory maybe piling up with certain manufacturers but not all. If a manufacturer is having trouble selling an EV⌠then itâs probably because they are not addressing customers needs with it.
Tesla isnât having a problem moving EVs, neither is Kia. GM and Ford seem to have a problem.
Back when the gasoline automobile began; people asked whats the use? At that time a horse could where a car couldnt. I think the same with the electric car. Whats the point? My gas car can go much farther than an electric. And i can fuel and go.
Ford has halted billions of dollars in investment in EV manufacturing, warning that customers will not pay a premium for these vehicles.
The auto giant announced in its third-quarter earnings call on Thursday that it would postpone $12 billion in planned spending on electric vehicle production and pause some major projects, including the construction of a new battery factory in Kentucky. . . .
Ford had already announced that it would abandon its target of building two million EVs by 2026, and its latest move comes as auto companies take an increasingly cautious tone on the future of electric vehicles.
Honda CEO Toshihiro Mibe told Bloomberg that the company was ending development of an affordable electric model, and General Motors has also abandoned its targets to build 500,000 EVs by the first half of 2024.