via fee.org:
In April, the International Energy Agency released a report in which it predicted EV sales to increase 35 percent after a record-breaking year. But economists I spoke with said such predictions were overly optimistic considering current macroeconomic conditions.
This invites important questions. Is the glut of EVs simply a product of tightened money supply?
Apparently not. As Axios noted, the 92,000 EVs currently sitting on lots is comparatively high relative to gasoline-powered cars.
“That’s a 92-day supply — roughly three months’ worth of EVs, and nearly twice the industry average,” wrote Joann Muller. “For comparison, dealers have a relatively low 54 days’ worth of gasoline-powered vehicles in inventory….”
In other words, dealerships are sitting on a lot more EVs than gasoline-powered vehicles—despite efforts to entice consumers to buy EVs with taxpayer-funded credits up to $7,500.
This is evidence that pretty much everyone—from central planners to auto manufacturers—misjudged the demand for EVs, which are not even as environmentally friendly as politicians would have you believe.
The actual plan, of course, is to force people into EVs — or better yet, into taking the bus. Or staying at home in the dark, eating bugs.
h/t Stephen Green