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Despite Massive Taxpayer Subsidies By Government, Unwanted EVs Pile Up At Dealerships
As we all know in America today, we no longer live in a free market capitalist country where the old traditional yet very basic concept of "supply and demand" is applied anymore. Consumers have next to no freedom to choose what they want, other than outright boycotting unwanted shit products the government keeps pushing them to buy. Of-course this would not happen in the traditional free market economy, where governments do not dictate what is or is not sold and where the manufacturing of products and utilities are based on consumer choice and popular demand.
Now that the American government has adopted communism, federal lawmakers created a glut of EVs with their meddling and it’s likely to have an adverse impact on both the auto market and the environment.
Ford Motor recently announced it is slashing prices on its F-150 Lightning, an electric vehicle the company rolled out in 2021.
Why? Several reports show EVs are not exactly flying off dealership lots. In fact, there’s a glut of them.
“After a prolonged period in which EVs quickly disappeared from dealerships, the electric vehicle industry now has the opposite problem: unsold models are piling up,” reported Money last week. “About 92,000 EVs currently sit on dealers’ lots; that's a 342% increase from a year ago, when only about 21,000 did so, according to automotive research firm Cox Automotive.”
Ford is not immune from the weakened demand for EVs. Sales of its flagship car, the Mustang Mach-E, have slumped, down 44 percent in May from the same month last year.
This was not the scenario the government had predicted.
In April, the International Energy Agency released a report in which it predicted EV sales to increase 35 percent after a record-breaking year. But economists I spoke with said such predictions were overly optimistic considering current macroeconomic conditions.
This invites important questions. Is the glut of EVs simply a product of economic failure by endless fiat debt creation?
Apparently not. As Axios noted, the 92,000 EVs currently sitting on lots is comparatively high relative to gasoline-powered cars.
“That's a 92-day supply — roughly three months' worth of EVs, and nearly twice the industry average,” wrote Joann Muller. “For comparison, dealers have a relatively low 54 days' worth of gasoline-powered vehicles in inventory….”
In other words, dealerships are sitting on a lot more EVs than gasoline-powered vehicles—despite efforts to entice consumers to buy EVs with taxpayer-funded credits up to $7,500.
This is evidence that pretty much everyone — from central planners to auto manufacturers — misjudged the demand for EVs, which are not even as environmentally friendly as politicians would have you believe.
Not only do EVs require an astonishing amount of mining — an estimated 500,000 pounds of rock and minerals must be upturned to make a single battery, physicists point out — but their carbon footprint isn’t much smaller than gas-powered cars.
It turns out that EVs actually require a lot more CO2 to produce than gas-powered cars. EVs can make that up, but it takes a great deal of time because EVs also often run on electricity generated from fossil fuels.
Yet another government-created EPIC FAIL.
https://fee.org/articles/why-evs-are-piling-up-at-dealerships-despite-massive-taxpayer-subsidies/