https://issuesinsights.com/2023/07/14/have-we-reached-peak-virtue-signaling-with-evs/
The cars that were going to save our world from the scourge of carbon-based global warming are, says one media outlet, “piling up on dealer lots” because they can’t be sold. Maybe we’re finally at the point where most if not all of those who are desperate to demonstrate their green cred already have an EV and don’t need another battery-powered adult toy.
Even though “the auto industry is beginning to crank out more electric vehicles (EVs) to challenge Tesla,” Axios reported Monday, “there’s one big problem: not enough buyers.”
Two days later, Market Watch said that as “EV sales stall … there’s a ‘step back from euphoria.’”
While Tesla Inc. and BYD Co., a Chinese conglomerate, have strong growth numbers, the rest in the industry, which has been incentivized to build, build, build by government mandate, can’t sell their EVs.
Korean luxury brand Genesis “sold only 18 of its nearly $82,000 Electrified G80 sedans in the 30 days leading up to June 29, and had 210 in stock nationwide — a 350-day supply,” Axios says.
Meanwhile, “Audi’s Q4 e-tron and Q8 e-tron and the GMC Hummer EV SUV, also have bloated inventories well above 100 days,” and “the Kia EV6, Hyundai Ioniq 5 and Nissan Ariya are also stacking up.” Even “the once-hot Ford Mustang Mach-E now has a 117-day supply.”
Axios is blaming the high price of EVs for the lack of sales, but that doesn’t explain why Tesla and BYD continue to sell electric cars. Could be there’s another factor.