No, electric vehicle sales aren’t dropping. Here’s what’s really going on::Tesla has been slashing prices. Ford just cut the price of its Mustang Mach-E, too, plus it cut back production of its electric pickup. And General Motors is thinking about bringing back plug-in hybrids, arguably a step back from EVs.
Okay, so…
People want EVs, just not the ones Ford, GM, Toyota, Subaru, Audi, Tesla, Rivian or Lucid are making.
Do you realize how insane that sounds? At some point, it’s clearly the EV part and not the brand.
Meanwhile, the ICE side of these companies are doing excellently. Tons of F150, Toyota Corolla, Honda Accords, Rav4s, and Jeeps getting sold.
Is it the EV part, or is it the upper-middle to upper market segment part? The Dacia spring is pretty popular in Western Europe and actually affordable.
Some of the top selling cars of Feb 2024 (lowest days of inventory metric) of USA is like Range Rover Sport ($90k), Lexus GX ($64k), and BMW X4($65k).