Oher car manufacturers adjust their production to the new market realities.
Honda is only one of many companies that have altered EV production plans. Kia, Nissan, VW, and Tesla have cut the production of certain models.
Torque News was one of the first outlets to state the Model S and X stopped selling a long time ago. Elon Musk recently confirmed that the models are now officially dead and that after Q2 ends, no more will be produced.
Presently, Tesla has 62% U.S.-market EV market share, way up from one year ago. As the EV market dries up, the Model Y and Model 3 remain the only two successful EV models – ever – in the U.S. marketplace.
The other US car companies are aggressively adapting to new market conditions.
General Motors (GM) and Ford Motor are cutting billions in fixed costs, including laying off thousands of workers, and Chrysler parent Stellantis is taking even more drastic measures to reduce spending.
According to Reuters, Ford Motor is taking a $19.5 billion write-down and is removing several electric-vehicle (EV) models from its line-up, as the auto industry retreats from battery-powered models in response to weakened EV demand and the Trump administration’s policies.
GM and Stellantis have already shifted more of their production to combustion engine vehicles, also taking financial hits.
GM wrote down $1.6 billion in EV assets and indicated that more write-downs are expected.
Due to the subsidy-fueled hype during the Biden years automakers overestimated EV demand , made 10s of $billions of investments, which have become dead money, aka "sunk costs"
Woke, self-serving bureaucrats have to stop picking winners and losers, because they have no idea what they are doing.
The EV market’s collapse following the removal of federal subsidies isn’t proof of market failure, but proof that market forces work exactly as they should.
Auto manufacturers are now responding to genuine consumer preferences rather than activist, woke, idiot fantasies about “carbon-free futures” , aka Net-Zero by 2050.
For decades, corporate strategies were warped by the insane elusions of green ideologues, who no understanding basic economics, nor of the fundamental science behind energy production.
Once the mandates and incentives were stripped away, demand recalibrated to match affordability, reliability, and everyday practicality, which are values far more enduring than climate cult slogans, inflated by Corporate Mass Media.
I have to wonder how many real opportunities for innovation were missed by car manufacturers, who were forced to pander to the climate fighting nonsense.
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