Unfortunately it seems that President Biden and the Dems have painted themselves into a corner as far as EVs are concerned. For a while I have been saying that EVs will not take over the auto market, and the other day I read something practical that encapsulated the way I feel about the future of EVs.
From America Out Loud:
“The EV market hits the brakes as sales hit a speed bump!”
“The elites have bought EVs, and elites may continue to buy EVs, BUT we’re quickly running out of elites.
The current EV ownership profiles are reflected in the oligarchic elite owners are that they are:
- Highly educated.
- Highly compensated.
- Multi-car families.
- Low mileage requirements for the families’ second car, i.e., the EV.
- Reside in a “temperate” climate like CA or FL. Almost 40% of EVs are in CA, and CA has 6 times as many EVs as FL.”
However, the same truths about “elites” and EVs will also start to soon apply to California. Whereas California certainly has a lot of elites, it also has quite a share of non-elites that are mostly owners of internal combustion engine vehicles, and they are dramatically different from most potential EV vehicle owners.
- Many are single-car owners,
- Most of the potential car buyers are not as highly educated.
- Nor as highly compensated as the elite EV owners.
- Mandating a change to EV ownership and forced austerity, may face a rebellion from those that need affordable vehicle transportation.
The average debt in America is almost $60,000 across credit cards, mortgages, auto loans, and student loans. The common folks need a workhorse vehicle, not just a second car toy that sits in the garage to be used on short ventures!
Mandating a change to EV ownership and further financial austerity onto those who can least afford it is facing a rebellion from those who need transportation. The problem is that manufacturers are loading up the “supply chain” with EVs on dealer lots, but they’re not seeing the “demand” for EVs coming from the public.”
And in a similar vein last week Apple announced that it was pulling out of the EV market despite working on an EV for ten years and investing $10 billion over that period of time.
Does Apple know something or realize something that other makers of EVs do not?
3/12/24
www.californiacontrarian.com