Auto execs are coming clean: EVs aren't working Joe C craps on self

volsrock

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With signs of growing inventory and slowing sales, auto industry executives admitted this week that their ambitious electric vehicle plans are in jeopardy, at least in the near term.

Several C-Suite leaders at some of the biggest carmakers this week voiced fresh unease about the electric car market's growth as concerns over the viability of these vehicles put their multi-billion-dollar electrification strategies at risk.

Among the surprising hand-wringing is GM's Mary Barra, historically one of the automotive industry's most bullish CEOs on the future of electric vehicles. GM has been an early-mover in the electric car market, selling the Chevrolet Bolt for seven years and making bold claims about a fully electric future for the company long before their competitors got on board.

But this week on GM's third-quarter earnings call, Barra and GM struck a more sober tone. The company announced with its quarterly results that it's abandoning its targets to build 100,000 EVs in the second half or this year and another 400,000 by the first six months of 2024. GM doesn't know anymore when it will hit those targets.

***

While GM's about-face was somewhat of a surprise to investors, the Detroit car company is not alone in this new view of the EV future. Even Tesla's Elon Musk warned on a recent earnings call that economic concerns would lead to waning vehicle demand, even for the long-time EV market leader.

Meanwhile, Mercedes-Benz — which is having to discount its EVs by several thousand dollars just to get them in customers' hands — isn't mincing words about the state of the EV market.

"This is a pretty brutal space," CFO Harald Wilhelm said on an analyst call. "I can hardly imagine the current status quo is fully sustainable for everybody."***


https://www.businessinsider.com/auto-executives-coming-clean-evs-arent-working-2023-10


Typical leftists with their pie in the sky ideas which are always poorly thought out. They always seem to think they can put the cart before the horse and the horse will push.

IDIOTS!
 
With signs of growing inventory and slowing sales, auto industry executives admitted this week that their ambitious electric vehicle plans are in jeopardy, at least in the near term.

Several C-Suite leaders at some of the biggest carmakers this week voiced fresh unease about the electric car market's growth as concerns over the viability of these vehicles put their multi-billion-dollar electrification strategies at risk.

Among the surprising hand-wringing is GM's Mary Barra, historically one of the automotive industry's most bullish CEOs on the future of electric vehicles. GM has been an early-mover in the electric car market, selling the Chevrolet Bolt for seven years and making bold claims about a fully electric future for the company long before their competitors got on board.

But this week on GM's third-quarter earnings call, Barra and GM struck a more sober tone. The company announced with its quarterly results that it's abandoning its targets to build 100,000 EVs in the second half or this year and another 400,000 by the first six months of 2024. GM doesn't know anymore when it will hit those targets.

***

While GM's about-face was somewhat of a surprise to investors, the Detroit car company is not alone in this new view of the EV future. Even Tesla's Elon Musk warned on a recent earnings call that economic concerns would lead to waning vehicle demand, even for the long-time EV market leader.

Meanwhile, Mercedes-Benz — which is having to discount its EVs by several thousand dollars just to get them in customers' hands — isn't mincing words about the state of the EV market.

"This is a pretty brutal space," CFO Harald Wilhelm said on an analyst call. "I can hardly imagine the current status quo is fully sustainable for everybody."***


https://www.businessinsider.com/auto-executives-coming-clean-evs-arent-working-2023-10


Typical leftists with their pie in the sky ideas which are always poorly thought out. They always seem to think they can put the cart before the horse and the horse will push.

IDIOTS!

The UTOPIANS were sure that almost everybody would love them and would love to pitch in on saving the planet...we were not supposed to question the claim the EV's do that when they clearly dont.
 
Not talked about enough is that people who bought a Tesla 2022 and a year or two before that tend to be pretty pissed that they paid what they paid given current prices...they feel taken advantage of...Tesla has set fire to a lot of good will.
 
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