Opinion: Evidence EVs are a fading fad is ‘rolling in fast’ as Tesla, GM and Ford slash prices

January 26, 2024

As consumers start to shy away from EVs, their choice will affect not just the car industry, but U.S.-China relations, state budgets and commodity prices. Its pledge to buy 175,000 EVs from GM GM, +0.34% will likely go up in smoke, too. According to Edmunds, EVs tend to sit on dealer lots for about three weeks longer than gasoline-powered cars. ”At the same time, state governments have been pumping EVs with enormous subsidies, even as their own budgets are bleeding red. China’s BYD 002594, -2.13% (“Build Your Dreams”) automaker recently earned headlines for selling 3 million EVs last year, compared to Tesla’s 1.8 million.