EVs are stacking up while hybrids are hot sellers. Prius hybrids have a 1-week supply. The Mustang Mach-E SUV has a 3 1/2 month supply.

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Automakers Big Hopes for EVs Crash Into Wall of Reality

Hello President Biden, despite tax incentives, ridiculous mileage regulations, nonsensical rules in California, and what’s left of your bully pulpit, the consumer has spoken loud and clear: They still don’t want EVs.

The Wall Street Journal reports Automakers Have Big Hopes for EVs; Buyers Aren’t Cooperating

The auto industry’s push to boost sales of electric vehicles is running into a cold, hard reality: Buyers’ interest in these models is proving shallower than expected.

Some car companies, such as Ford and Toyota are tempering their expectations for EVs and shifting more resources into hybrids, which have been drawing consumers at a faster clip.

The first wave of buyers willing to pay a premium for a battery-powered car has already made the purchase, dealers and executives say, and automakers are now dealing with a more hesitant group, just as a barrage of new EV models are expected to hit dealerships in the coming years.

“The curve isn’t accelerating as quickly as I think a lot of people expected,” said John Lawler, Ford Motor’s chief financial officer at a conference in September, on the EV adoption rate. “We’re seeing it flatten a bit.”

Ford pushed back a plan to produce 600,000 EVs annually to late 2024 instead of the end of this year, and The Wall Street Journal reported Friday that it is considering canceling a shift of factory production on its electric F-150 Lightning pickup as sales for that model falter.

Hybrid sales in the year’s first three quarters jumped 48% over the prior-year period, according to Motor Intelligence, a reversal from last year, when hybrid sales fell roughly 6% compared with 2021.

“It’s a smoking-hot market,” said David Christ, head of sales for Toyota Motor’s North American business. Toyota has been slower to move to EVs than its rivals, preferring to promote hybrids, which are now in shorter supply.

Toyota, in September, had a little more than a week’s worth of Prius hybrids in stock, meaning many customers face long waits for one. By comparison, the Japanese automaker had a more-than-two-months’ supply of its newest electric SUV, the bZ4X, an indication those vehicles are starting to stack up at dealerships.

In September, Ford had a 3½-month supply of unsold Mustang Mach-E SUVs, more than double the industry average, according to research firm Motor Intelligence.

“We are trying to make as many hybrids and plug-in hybrids as possible,” Christ said. 

EVs Don’t Make Sense For Many People

EVs don’t make people who drive long distance, renters with no access to a charger, people on vacation who will not know where reliable chargers are located, and people who cannot afford an EV despite tax incentives.

If all you do is tool around town, any reliable used car should suffice. Why buy an expensive EV?

For those looking to buy a new car and worried about charging, a hybrid makes much more sense.

Were not for tax credits for consumers and subsidies for producers, EV sales would be in the gutter.

EV Prices Falling

The cost of an EV is sinking but most of that is Tesla sticking it to the big three automakers. The rest is auto makers responding to Tesla price cuts.

Already, the big three is losing money on every EV it sells. Ford has to sell a lot of pickup trucks to offset losses on EVs.

But what can Ford do with a 3.5 month supply of electric Mustangs other than cut production and further reduce prices.

Tesla’s China EV sales fall 11%

CNBC reports Tesla’s China EV sales fall 11%

• Tesla’s China-made EV sales decreased 10.9% year over year for the month of September, according to the China Passenger Car Association.
• News of Tesla’s sales dip comes a week after the company announced third-quarter vehicle deliveries that came in below deliveries and production from the previous quarter.
• The company slashed prices for some of its Model 3 and Model Y vehicles in the U.S. on Oct. 6.

An Epic Battle: Ford to Use China’s Battery Technology, GM Wants it Blocked

On September 30, I noted An Epic Battle: Ford to Use China’s Battery Technology, GM Wants it Blocked

In a battle between GM and Ford, $7,500 in tax credits are at stake depending on Biden’s definition of “foreign entity of concern.” The exclusion aims to reduce US reliance on Chinese batteries and materials to make them.

 

What About Consumer Concerns?

Lost in the battle over “foreign entity of concern” ought to be the concern “how many people don’t want EVs crammed down their throats?”

No one is taking legitimate consumer concerns like price, insurance, number of reliable chargers, charging times, inflation, and even hurricane evacuations into proper consideration.

Biden’s Self-Made Dilemma

Biden is guaranteed to upset someone. That’s what happens when you interfere in the free markets, taking sides.

Congressional members from Michigan have lined up behind GM. So did Senator Joe Manchin.

The infrastructure isn’t ready in either case, and inflation is sure to rise.

The Shocking Truth About Biden’s Proposed Energy Fuel Standards

In case you missed it, please consider The Shocking Truth About Biden’s Proposed Energy Fuel Standards

The National Highway Traffic Safety Administration NHTSA did an impact assessment of 4 fuel standard proposals and compared them to the cost of doing nothing. Guess what.

The NHTSA conclude: “Net benefits [of stricter mile standards] for passenger cars remain negative across alternatives” vs doing nothing at all.

The National Highway Traffic Safety Administration has concluded Biden’s mileage standards have “Net benefits for passenger cars remain negative across alternatives” vs doing nothing at all.

And to top it EVs don’t do a damn thing for the environment. See Biden’s Solar Push Is Destroying the Desert and Releasing Stored Carbon

Germany has turned to coal while getting rid of nuclear and the US is heavily subsidizing offshore wind farms that are are economically unfeasible even with subsidies. In addition, wind farms kill whales in the process.

Meanwhile, hypocrites like Al Gore and John Kerry trot the world in their jets preaching the world will end if nothing is done.

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