According to the Los Angeles Times, sales of electric vehicles (EVs) in California fell for the first time in more than a decade in the second half of last year, despite the state's push to popularize EVs.
Automakers sold 2,840 fewer EVs in the third quarter of 2023 compared to the second quarter, to a total of 100,151 units, and in the fourth quarter, sales fell further by 10.2% to 89,933 units. EV sales fell for the first quarter since 2012, when the products just went on sale. wider market, according to In the LA Times. The decline in sales comes despite the state's pledge to ban sales of new gasoline and diesel cars and light trucks by 2035. (Related: New report finds big problems with key green technologies Biden is banking on for climate change)
“These are interesting times for automakers and consumers,” Greg Bannon, director of automotive engineering at AAA, told the LA Times. “Governments and automakers have spent billions of dollars on things consumers don't want.”
According to the newspaper, EV sales in the first half of 2023 increased 48% year-on-year to 190,807 units, accounting for about a quarter of all EV sales in the United States, but the decline in the second half of the year is contrary to this. . LA Times. Demand has since stagnated due to factors such as consumer charging concerns and high prices, even though federal funds were earmarked to alleviate those concerns.
Financials of Ford's Electrical Division. On 34,000 EVs sold in Q4 '23, revenue was $1.6 billion versus a loss of $1.6 billion. That's terrible. $F #Electric car pic.twitter.com/40PTIiq86V
— Kniet Kazokoglu (@ckazok) February 15, 2024
The Biden administration has earmarked a total of $7.5 billion for two separate programs to build out America's charging infrastructure, including building new charging stations and upgrading old charging stations. Despite the funding, only two stations had been built as of December, with design and location limitations and labor required to carry out the construction work.
EVs are still much more expensive than vehicles that use internal combustion engines, and the Biden administration is trying to bring the price down through a $7,500 tax credit. Companies are using these credits to increase their EV inventories, and while the total number of vehicles has doubled from 3% in January to about 6% in September, EV sales have increased from 3% to 4% on a market basis. It remained at %. Share within that time frame.
“Most observers agree that early adopters are buying EVs,” Brian Maas, president of the California Automobile Dealers Association, told the LA Times. “These vehicles are very expensive for the mass market, and on top of that you have charging issues.”
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