While the sales of EV’s are brisk…..
They overall sales numbers are NOT what expert’s thought they would be expanding to……
Some of us are not at all surprised…..
Normally a 50 percent increase in sales is considered very good. But when the number of electric vehicles sold in the United States grew that much during the third quarter from a year earlier, it was a disappointment.
Carmakers and analysts had expected more. Instead of celebrating, auto executives worried that demand for electric vehicles was slackening, raising questions about their plans to invest tens of billions of dollars to develop new models and build factories.
In recent weeks, General Motors, Ford Motor and Tesla cited slower sales and signs that the economy was weakening in announcing that they would delay that spending. That was a blow to the Biden administration’s plan to fight climate change by promoting zero-emission vehicles, and it cast doubt on whether generous federal tax credits for electric car buyers were working as well as policymakers had hoped…..
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Ford and G.M. have staked billions to retool factories and build new ones to produce electric vehicles, batteries and other components. If the carmakers have miscalculated, the consequences could be severe. (Stellantis, the parent company of Chrysler, Jeep and Ram, has not yet begun selling any all-electric vehicles in the United States.)
Sales of electric vehicles in China and Europe are also growing more slowly than they were a few months ago….
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Still, electric vehicle sales are growing faster than any other major category of automobile, and Americans will buy more than one million of them this year, a record. From July through September, battery-powered cars accounted for 8 percent of the new cars sold in the United States, up from 6 percent a year earlier, according to Cox Automotive…..
Next January you can get the federal rebate at time of purchase…we shall see if that kicks the needle up a bit…certainly will help Tesla sales…in NY that would be 9.5K off the top of the car…putting them close to ICE vehicles…
Maybe
Bit as I have pointed out
EV’s haven’t broken 10% and auto makers ARE getting ready to slow down production…..