{"id":2014412,"date":"2023-08-28T15:19:11","date_gmt":"2023-08-28T19:19:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ev-fail-car-dealers-turning-away-from-electric-vehicles-after-learning-harsh-economics-lesson\/"},"modified":"2023-08-28T15:22:12","modified_gmt":"2023-08-28T19:22:12","slug":"ev-fail-car-dealers-turning-away-from-electric-vehicles-after-learning-harsh-economics-lesson","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ev-fail-car-dealers-turning-away-from-electric-vehicles-after-learning-harsh-economics-lesson\/","title":{"rendered":"Car dealers ditching electric vehicles due to tough economics."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fev-fail-car-dealers-turning-away-from-electric-vehicles-after-learning-harsh-economics-lesson%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2014412&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Car Dealerships \u200dTurning Away From Electric \u200cVehicles<\/h2>\n<p>Car dealerships are telling \u200bauto\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doe-grants-manchin-donors-company-1-million\/\" title=\"DOE Grants Manchin Donor\u2019s Company  Million\">manufacturing companies<\/a> that \u200bthey have more \u200cthan enough electric vehicles\u2063 in \u200dstock and don\u2019t want\u200c more on their lots until the current inventory\u200b sells.<\/p>\n<p>Nonetheless, those same\u2063 manufacturing companies are producing more electric vehicles than ever before, according to\u2064 <a href=\"https:\/\/www.businessinsider.com\/dealers-turning-away-evs-velectric-cars-demand-cools-inventory-2023-8\" target=\"_blank\" rel=\"noopener\">Insider<\/a>.<\/p>\n<p>Manufacturers are \u201casking us to\u200d make a large investment,\u201d Scott Kunes, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/audit-michigan-may-have-paid-billions-in-fraudulent-jobless-claims-gretchen-whitmer-administration-hit-with-kickback-allegations\/\" title=\"Audit: Michigan May Have Paid Billions in 'Fraudulent' Jobless Claims; Gretchen Whitmer Administration Hit with 'Kickback' Allegations\">chief operating officer<\/a> of Kunes Auto and RV Group, \u2062told \u200bInsider, \u201cand we\u2019re just wanting to see some return on that investment.\u201d<\/p>\n<p>Kunes\u2019 \u2064company was founded in 1996 and\u200b sells foreign and domestic cars and recreational vehicles \u2064at\u2062 \u201cover 40\u201d locations in Illinois, Iowa, Minnesota and\u2062 Wisconsin, according to the company\u2019s <a href=\"https:\/\/www.kunes.com\/\" target=\"_blank\" rel=\"noopener\">website<\/a>.<\/p>\n<blockquote>\n<p>\u201cWe have turned away EV inventory,\u201d Kunes \u200dsaid. \u201cWe need to ensure that we have a good turn on it.\u201d<\/p>\n<\/blockquote>\n<p>An inventory \u2062\u201cturn\u201d is\u2064 a measure of\u200c how quickly a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ev-fail-car-dealers-turning-away-from-electric-vehicles-after-learning-harsh-economics-lesson\/\" title=\"Car dealers ditching electric vehicles due to tough economics.\">retailer call sell product equal<\/a> in value\u2063 to everything in its stock; automotive digital marketing \u200bcompany\u2064 <a href=\"https:\/\/maxdigital.com\/blog\/car-dealerships-calculate-inventory-turnover\/#:~:text=While%20every%20dealership%20will%20have,inventory%20is%20the%20gold%20standard.\" target=\"_blank\" rel=\"noopener\">Max Digital<\/a> says the typical\u200d retailer is looking to turn his inventory 12 times annually.<\/p>\n<p>Insider said that dealerships already \u2063had 54 days\u2019 of inventory on hand a couple of months ago, but that <a href=\"https:\/\/www.westernjournal.com\/lefts-electric-vehicle-hopes-dreams-run-wall-evs-piling-lots-no-buyers\/\" target=\"_blank\" rel=\"noopener\">EV inventory<\/a> was more than twice that \u2014 almost four months\u2019 worth.<\/p>\n<p>It wasn\u2019t all that long \u2062ago, before manufacturers \u200d <a href=\"https:\/\/www.westernjournal.com\/ap-ford-announces-company-cutting-thousands-jobs-pivots-electric-vehicles\/\" target=\"_blank\" rel=\"noopener\">ramped up<\/a> EV production, that it could be\u2064 difficult to \u2062find \u2063one even for a test drive, never \u200cmind one available for purchase.<\/p>\n<p>That\u2019s changed.\u200d Other dealers told Insider that they, too, were turning additional inventory\u2062 away until they could sell\u2064 what was\u2063 already\u200d on their lots or that they planned to soon.<\/p>\n<h3>Challenges of Electric Vehicle Adoption<\/h3>\n<p>The pool of\u2064 consumers <a href=\"https:\/\/www.westernjournal.com\/new-study-electric-vehicles-cost-charge-filling-car-gas\/\" target=\"_blank\" rel=\"noopener\">wealthy \u2062enough<\/a> to afford an EV and \u2063risk-tolerant enough to\u2063 be willing to be an \u2062early adopter of EV technology has \u2064largely \u2062bought what it\u2019s going to buy, Insider reported.<\/p>\n<p>\u201cIt\u2019s not just\u2062 that\u200b these \u2064vehicles are expensive \u2014 which they are,\u201d Sam \u200bFiorani,\u200d the vice \u2064president of global vehicle\u200c forecasting at \u200dAutoForecast Solutions, told the outlet. \u201cWe\u2019re \u2064talking about a much more nuanced lifestyle change.\u201d<\/p>\n<p>Fiorani explained that EV\u2019s offer a significantly different \u201cownership \u2064experience,\u201d because of the\u200d typically <a href=\"https:\/\/www.westernjournal.com\/huge-drawback-electric-trucks-revealed-ford-lightning-loses-25-range-full-payload\/\" target=\"_blank\" rel=\"noopener\">lower range<\/a> a vehicle gets from a single charge and unavailability of charging\u200c locations relative to gas stations.<\/p>\n<p>\u201cIt\u2019s hard for the average customer to make that leap while\u200b spending\u200d an extra $10,000,\u201d he said.<\/p>\n<p>Demand, therefore, is \u200bfalling even as automakers are increasing supply.<\/p>\n<blockquote>\n<p>\u201cThe only Toyotas I have that aren\u2019t presold are the \u2062electric ones, the bZ4X, \u200band that\u2019s a little bit of a challenge,\u201d Adam Lee, the chairman \u2064of \u200dthe board at Lee Auto Malls in Maine, told \u200cInsider.<\/p>\n<\/blockquote>\n<p>According to the numbers, EV sales made up about 6 percent of auto\u2063 sales in \u200c2022 and were projected to be \u200bsignificantly higher than that \u200bin 2023, Insider said in an\u200b <a href=\"https:\/\/www.businessinsider.com\/ev-electric-car-sales-plateau-early-adopters-competition-2023-8\" target=\"_blank\" rel=\"noopener\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/confirmed-activist-interviewed-by-cnn-who-stormed-capitol-building-is-radical-leftist-from-utah-who-threatened-on-video-to-rip-trump-from-white-house\/\" title=\"CONFIRMED: Activist Interviewed by CNN Who Stormed Capitol Building Is Radical Leftist from Utah Who Threatened on Video to \u201cRip Trump from White House\u201d\">earlier report<\/a><\/a>.<\/p>\n<p>That rate of increase, however, was not considered sustainable.<\/p>\n<p>\u201cThe spectacular growth we\u2019ve seen over the last few years\u200d cannot be sustained. It\u2019s just not possible,\u201d Fiorini told Insider earlier this \u2063month. \u201cThe further up this growth curve we go, the harder it\u2019s going to be to get to the\u2064 next level.\u201d<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/ev-fail-car-dealers-turning-away-electric-vehicles-learning-harsh-economics-lesson\/\">EV Fail: \u2063Car Dealers Turning Away From \u200cElectric Vehicles After Learning \u200dHarsh Economics Lesson<\/a> appeared first on \u200c <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Car dealerships refuse additional electric vehicles until current stock sells, despite manufacturers producing record numbers. Insider reports manufacturers demand substantial investments from dealerships.<\/p>\n","protected":false},"author":2010,"featured_media":2014413,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2014412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2010"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2014412"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2014413"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2014412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2014412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2014412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}