As a WaPo headline cheekily put it many years ago: they’re the car of the future…and they always will be.
‘EV Euphoria Is Dead’: CNBC Declares Transition to Electric Vehicles Has Failed
CNBC has admitted that the attempted transition from gas-powered to electric vehicles (EVs) has failed.The business-focused news channel explained in a piece on Wednesday that “EV euphoria is dead” and that the largest automakers are drastically scaling back their plans.
The piece read:
For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets for EV growth. Wall Street boosted valuations for legacy automakers and startup entrants alike, based in part on their visions for an EV future.
Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen, Jaguar Land Rover and Aston Martin are scaling back or delaying their electric vehicle plans. Even U.S. EV leader Tesla, which is estimated to have accounted for 55% of EV sales in the country in 2023, is bracing for what “may be a notably lower” rate of growth, CEO Elon Musk said in late January.
The report goes on to outline some of the principal reasons why the market is struggling and concedes that the Biden administration overestimated the willingness of consumers to make the switch from traditional gas-powered vehicles:
After significant interest from early EV adopters — bolstered by low interest rates and Tesla’s rise — interest rates skyrocketed, raw materials costs surged and the vehicles became much more expensive compared with their traditional counterparts.
It’s also become clear that the automotive industry and the Biden administration, which set its own target for half of new U.S. vehicle sales to be electric by 2030, overestimated the willingness of consumers to adopt a new technology without a reliable and prevalent charging infrastructure.
Such an article points to the growing resignation among progressives and advocates of electric vehicles that their proposals do not make economic sense.
So? When have they ever? But the attempt to jam CPVs (Coal Powered Vehicles) down our throats was never about “economic sense” anyway, nor was it really about Saving Mommy Gaia©. This latest farcical iteration of the regularly-recurring flirtation with the electric-car fantasy was only ever about one thing, and one thing alone: power, and control. This was nothing more nor less than the Überstadt flexing its muscles, determined to show its lowly Serf Class who was boss—a show of force by Leviathan intended to establish once and for all who wields ultimate power around here, and who must accede to whom.
Happily, after a piss-poor Scamdemic showing, a large number of Normal Americans finally responded with a bland shrug and a yawn once the initial curiosity-generating hype had subsided—enough of them to elbow the horrendously expensive, unreliable, and dangerous ‘Splodeycar play-purties out of mass-market consideration and back into the garage, lowering and locking the door, then turning out the lights behind them to re-embrace the time-tested and proven, superior, and far more practical ICE technology they had come to rely on for convenient, dependable transportation.
Until next time the EV will o’ the wisp is trotted out to be foisted upon them by too-big, too-powerful government, that is—which, it’s a lead-pipe cinch that there’s gonna be one. Count on it, friends: as the Terminator vowed, they’ll be back. Like Leftards themselves, they’ll never really go away, not for very long.
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They will have to pry my pistons from my cold, dead fingers.
Ditto, Busted.
Once the early adopters, the ones that could afford a toy car, bought their EV, there was no one left to provide sales. It is that simple. Normal people buy a car primarily for transportation and cannot afford a toy.
Tesla may remain, but every car company can not, not enough consumers of toy cars to go around.
What chafes me no end (and which many people don’t appreciate) is the double cost burden that the push to adopt EVs (also wind and solar power) entails, all passed on to the consumer-taxpayer of course.
There’s the cost of the new EVs and wind and solar installations, coupled with the necessary infrastructure, and the (mostly hidden) cost of mothballing and/or scrapping perfectly usable assets with a lot of life left in them.
Examples include certain local governments scrapping entire still functional ICE fleets and switching to EVS and the shutting down of coal, oil and nuclear power plants, some of which could continue operating for decades if allowed to.
What a fucking waste.
I just wanted to add: