Left’s Electric Vehicle Hopes and Dreams Run Into a Wall: EVs Are Piling Up on Lots With No Buyers

Many manufacturers in the auto industry are ramping up the production of electric vehicles to compete with Tesla, but they’re encountering a significant hurdle: a lack of sufficient buyers.

Jonathan Gregory, senior manager of economic and industry insights at Cox Automotive, called it a “Field of Dreams” moment for the industry.

Except, the cars are built, and no one is coming.

According to Axios, despite a significant increase in consumer consideration of EVs, as revealed by a recent Cox survey, this heightened interest has not yet translated into actual sales.

The survey found that 51 percent of consumers are now contemplating the purchase of a new or used EV, up from 38 percent in 2021. However, despite the interest, the cars are not selling.

According to Cox, dealers have a nearly three-month supply of EVs compared to 54 days’ worth of gasoline-powered vehicles in their inventory.

The sales figures for luxury EVs tell an interesting story.

Genesis, the Korean luxury brand, managed to sell a mere 18 of its high-end Electrified G80 sedans in 30 days. With 210 units in stock nationwide, that translates to a 350-day supply, according to Cox.

Maybe it had something to do with the fact that the car costs a whopping $82,000.

Luxury EVs from other manufacturers also faced a similar situation. Models like Audi’s Q4 e-tron and Q8 e-tron, as well as the GMC Hummer EV SUV