In recent years, there has been a growing push towards electric vehicles (EVs) in the automotive industry. However, a recent report from Fox Business raises questions about whether or not Americans truly want electric vehicles.
Auto expert Mike Caudill discussed Ford's struggles to sell EVs in Q3, with the company reportedly losing $36,000 on each electric vehicle. This raises concerns about consumer demand for EVs in the American market.
Additionally, luxury automaker Bentley has delayed its transition to an all-electric vehicle lineup. Originally planning to transition to a lineup consisting of only battery electric vehicles (BEVs) by 2030, Bentley has now extended its timeline to 2035. The company will continue manufacturing plug-in hybrid electric vehicles (PHEVs) until then.
Bentley's new "Beyond100+" strategy aims to release a new PHEV or BEV model every year over the next decade as it moves towards becoming all-electric by 2035. The company plans to roll out its first fully-electric model, the "Luxury Urban SUV," in 2026.
In addition to Bentley, Volvo has also reversed its goal to make only EVs in 2030. This shift in strategy from major automakers raises questions about the future of EVs in the market.
Despite these challenges, Bentley reported delivering nearly 5,500 vehicles in the first six months of 2024, with a total of 13,560 deliveries in 2023. This indicates that there is still a market for luxury vehicles, even as the industry navigates the transition to electric vehicles.
Overall, the future of electric vehicles in the American market remains uncertain, with automakers like Ford, Bentley, and Volvo facing challenges in selling EVs to consumers. It will be interesting to see how these companies adapt to changing consumer preferences and market demands in the coming years.