Source: American Institute for Economic Research
by Jon Miltimore
“In August, Ford announced it was spiking its plan to roll out an all-electric three-row SUV, citing low consumer demand and a crowded market. … Ford’s latest pullback from EVs is no surprise to people who’ve been paying attention to the EV market. More than a year ago I pointed out that news outlets were reporting of EVs ‘piling up’ at dealership lots because of low consumer demand, which ultimately prompted Ford to halve production of its popular F-150 Lightning, reducing output to about 1,600 vehicles per week. The reality is both lawmakers and Washington and auto companies severely misjudged consumer demand for EVs, which has proven far lower than estimates had projected. There are many reasons for the low demand, but the primary reasons are concerns consumers have with EVs.” (09/20/24)
https://www.aier.org/article/fords-massive-retreat-from-evs-explained/