Woke to Broke? Electric Vehicle Manufacturers Face Plummeting Demand

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Electric vehicles have become a non-profitable boondoggle for many motor companies. Turns out, waking up and virtue signaling may not be the best business strategy.

Ford, Tesla, and Mercedes-Benz are all affected by the decline in sales of electric vehicles (EVs). One factor stands out: EVs can be too expensive and unreliable to be purchased by most Americans. The EVs are expensive and unpractical. I wouldn’t at all be surprised if EVs continue to decline in sales for companies that have EVs for the foreseeable future.

In reality, vehicle batteries are toxic and difficult to dispose of, so they’re not a truly “green” choice. The mining of the materials for EV batteries is often done by child labor. EVs are also a serious threat to an already stressed electric grid. EVs are not an affordable or a good choice.

Breitbart reported that Ford’s electric car unit had reported a 20% drop in sales for Q1 2024 and that it was necessary to cut prices because of the low consumer demand.

Ford Motor Company reported a staggering $132,000 loss per electric vehicle (EV), totaling $1.3 billion in losses…The Model E’s revenue fell by 84 percent, to approximately $100 million. The company attributed this to the price reductions for EVs across the industry.

Ford ultimately lost more than $130,000 for every EV sold.

Ford isn’t alone in seeing a decline in EV sales. This trend can be seen both in Europe and America. Electric Cars Report reported recently that Volkswagen Group saw a 24% drop in sales of EVs in Europe and a 16% decline in America in Q1 2024. Volkswagen’s 91% increase in sales of EVs in China (41,000 vehicles sold) was not enough to prevent the company from experiencing a 3% decrease in overall EV sales.

Electric Cars Report reported another company that had gloomy news about EVs in Q1:

Mercedes-Benz saw an 8% drop in EV sales during the first three months of the year as it phased out the smart [F]Fortwo. However, plug-in hybrid sales grew 6%. The automaker cited a weakening of consumer demand in Germany following the end of EV subsidies.

Electric van sales fell by 17% and are expected to remain below the sales of last year. Electric Cars Report cited a German government EV subvention ending as a major factor in the decline of demand for Mercedes-Benz EVs. EVs, like other “green” energies, often rely on government subsidies and fake any kind of profitability.

Elon Musk’s Tesla Electric Vehicles also aren’t selling as well as before. Automotive Fleet reported in its report earlier this month, that EV sales growth in the United States had stalled overall. Tesla saw a decline. The website reported that “Tesla’s sales in the U.S. are down 13.3% over the past year, well below the double-digit growth which has become standard for the Tesla brand.”

The woke green energy movement has failed again.