Last week, the House approved a resolution blocking the Biden administration's emissions rules that would require more than half of the cars sold in the new car market to be electric by 2032. [emphasis, links added]
The 215 representatives who voted for the bill, including eight Democrats, are more aligned with much of the country than the White House.
The “miserables” and “miserables” of the industrialized world are rejecting electric cars.
Nationally, Axios said unsold EV inventory grew nearly 350% in the first half of 2024, creating “a 92-day supply — roughly three months’ worth of EVs, nearly the industry average.” Twice the level”. Days for gasoline-powered vehicles.
Ford lost nearly $73,000 on every electric vehicle sold in the second quarter of 2023, and the company continues to succumb to reality and now abandons plans to produce a large electric SUV.
Just the News said this “change of course comes amid lower-than-expected demand for electric vehicles.”
The company also “delayed until 2027” plans for “another electric pickup truck project.”
“We will make adjustments and make tough decisions based on market and customer conditions,” Ford Chief Financial Officer John Lawler said.
This is the message from the market:
“Among U.S. consumers who plan to buy a new car in the next 24 months, only 34% plan to buy an electric vehicle, down 14% from 48% in 2023,” Ernst & Young's Mobile Consumer Index said, “This is a global survey of nearly 20,000 consumers from 28 countries.”
The situation in the UK is much the same.
Electric vehicles “are depreciating at an 'unsustainable' rate as used car prices plummet as slowing consumer demand.” The Daily Telegraph reported last week.
Meanwhile, in France, Deliveries in the EU's second-largest EV market (after Germany) fell by a third.
The Daily Telegraph said in a separate report that Germans have also lost interest as “the EU faces growing calls to delay its net-zero car target, with the country's electric car sales 'significantly' decline” .
National Public Radio, which speaks for and for the political left, believes that, “Electric cars are better for the environment than gas cars,” and lamented the growing number of Americans who are skeptical of the ecological integrity of electric vehicles. NPR says electric cars are “caught in a culture war.”
There may be some truth there.
Many Americans are tired of elected and unelected officials having their preferences forced upon them. It is an independent culture at war with a coercive culture.
We'd also venture to say that a significant number of people in this country don't like electric cars because they don't want to be seen as virtue signalers demonstrating their green credentials.
They see superficial displays of eco-activism every day, and they don’t want to be lumped into the crowd.
Of course, there are other reasons: high price tags, short range, long charging times (when available chargers can be found), high insurance and maintenance costs, drain on the grid [and hefty impact on roadways]and their false reputation (they are not zero-emission vehicles).
According to Wired, it shouldn’t be surprising, Electric vehicles lose up to half of their value within a year“Some electric vehicle brands… continue to lose value, The worst losses were as much as $600 per day.“
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