Ford scales back all-electric F-150 Lightning production in response to weak customer demand
Nearly 4,000 dealerships wrote President Joe Biden in November to say they were struggling to sell the EVs on their lots.
Nearly 4,000 dealerships wrote President Joe Biden in November to say they were struggling to sell the EVs on their lots.
Besides costs, the dealers said customers are concerned about charging access, loss of range in hot and cold weather, and not having enough charge for long daily commutes.
By January, with no response from the Biden administration – and their numbers growing to over 5,000 dealerships – a second letter was sent urging the president to “slam the brakes.”
Auto manufacturers will be required to increase the percentage of electric vehicles they sell gradually through 2030, and the mandates would sharply rise thereafter.
Despite the growing dealership inventory and less than 1% of the total vehicle registrations in the state being electric, Ohio continues to move forward with charging station construction.
Since electric vehicles require far fewer parts to assemble and auto makers are losing money on the EVs they sell, the EPA standards could result in a “bloodbath” for the American auto worker.
Half of all new car sales across the globe in 2022 were small and large SUVs. The electric versions of these vehicles are expensive and have limited towing range, which dealerships say are a turn-off for car buyers.
The IEA predicted in June that a pivot toward “lower emission sources” as a result of the global energy crisis, as well as growth in electric vehicle sales, would initiate a decline in gasoline consumption in 2024.
Experts say that automakers and the federal government grossly overestimated consumer interest in the vehicles. “The government can’t really dictate everything it wants to dictate to the market. Seems to me we have to learn this lesson in the United States every 10 to 20 years," said energy writer and analyst David Blackmon.
An analysis by energy expert Robert Bryce found that Ford Motor Company incurred an operating loss of its EV business in 2023 that exceeded its total profit for the year. The company lost $64,731 on every electric vehicle it sold last year.