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Thursday, November 2, 2023

Electric vehicle sales hit wall, most production suspended.

 THE RISKS OF GOVERNMENT CONTROLLED ECONOMIES

WITHOUT SUBSIDES AND EXTORTION EVS WOULD HAVE BEEN MARKET BASED


In the last few weeks every major car manufacture has suspended production of their electric vehicles. Ford, VW, GM, Honda, Toyota all have a backlog of unsold EVS with near 100 days of vehicles on lots. Some believe that the sale of all electric vehicles are in trouble, while hybrids and tradition sales are sound.

When something new comes on the market, there is always the rush by the more impulsive and trend setters to try it out, that rush may have now been satisfied and others are now more reluctant to take the plunge.

Most manufacturers admit that EV's may be premature as there is not the necessary infrastructure to make them acceptable. They are not viable for those who engage in long trips or extended driving. No one want tp stop every 4 hours and wait several hours to recharge their vehicles.

Tesla, has of course continued production, but admits sales have slowed, there again is probably a satisfying of demand for those who can use an electric vehicle. If much of your driving is near home and you have a charging ability at your home, it is probably a viable option.

Manufacturers have testified that they have been under tremendous government pressure to go to all electric vehicles. They now believe there will be a market for these vehicles, but the idea of going all electric will face huge market resistance. Some believe the goal should be the lesser production of carbon emissions and that the companies are exploring other fuels and other approaches that will be more market based.

Whenever government makes decisions that are not based on what people want or accept, there will be problems, this is a perfect example. Hopefully the result will not be a domestic auto manufacturer crisis that will then need a government bailout to rescue them from these government decisions.

Electric vehicles do have a place in the transportation market, but consumers need to make these decisions based on their own preferences and needs.



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