The Biden Administration has set a goal that all new light-duty vehicles manufactured by 2027 be Electric Vehicles (EVs) and that two-thirds of all new vehicles be electric by 2032. California has mandated that no new gasoline or diesel vehicles will be sold within state borders by 2035. Entering 2024 in a few weeks, I don’t see any way that these goals and mandates will be met.
A few weeks ago, I saw a news story where more than three thousand automobile dealership owners across the nation signed a letter requesting the Biden Administration relax these mandates. They point out that the EVs that are on the sales lot are not selling at near the pace necessary to support sales turnover. The industry average is 30-60 days average sales inventory on the lots. Nationally, the dealers have a year’s supply of EVs waiting to be sold, six to eight times more than they can normally handle. They are telling the manufacturers, “Don’t send us anymore; we have more than we can sell.”