Another Car Maker Backs Away From EVs – Is The Electric Car Trend Over?

It was all the rage for a while.

Everyone was talking about it.

The electric car was basically how people viewed the iPhone when it first came out.

But it seems the thrill is gone, just like the wow factor of the iPhone. “iPhone 38 is coming out!” Big deal.

And so we’re seeing a trend across the board, from Tesla to Mercedes-Benz, in declining sales.

Recently Mercedes-Benz announced it’s reversing its goal to be all-electric in 6 years, and focusing on gas powered vehicles.

Ooops! UK diesel car sales rise following electric car stumble. Diesel sales rose 12% in December 2023, briefly interrupting a decline that began back in 2016 https://t.co/W8Z5wEs6PZ

— Paul Biggs (@pmbbiggsy) February 21, 2024

Business Insider reports:

• Mercedes-Benz said in 2021 it planned to be all-electric by 2030.
• The carmaker walked back that goal during an earnings call this week, however.
• A Q4 statement from Mercedes says EV sales in 2030 will be more like 50% of its fleet.

It looks like Mercedes-Benz won’t live up to its goal to be all-electric by 2030.

In 2021, the German carmaker announced plans only to sell electric vehicles — “where market conditions allow” — by 2030. It now seems that market conditions aren’t going to allow that.

In its fourth quarter statement released Thursday, the company said it would allow customers’ demands to “set the pace” for how much of its fleet will be electric or gas. And, as of Thursday’s release, it expects its overall EV sales to reach just 50% by the time 2030 rolls around.

During a September interview at the Munich car show, Mercedes CEO Ola Källenius first hinted at a more narrow outlook for the EV market.

“It’s not going to be 100% in 2030, obviously… from the whole European market, but probably from the Mercedes side as well,” he said, according to Reuters.

Mercedes expects its EV sales to account for about 19% to 21% of new car sales this year.

Mercedes isn’t the only automaker that is reevaluating its EV plans. Consumer demand for EVs has cooled as shoppers look for more affordable options and struggle with the lifestyle changes required to own a car that needs charging.

🚨BENZ GOES BACK TO GAS

Mercedes-Benz scales back on electric vehicle (EV) expectations, planning updates for combustion engines into the next decade.

This move reflects a slower-than-anticipated shift to EVs.

Source: Reuters pic.twitter.com/0XFjnsEhxl

— Mario Nawfal (@MarioNawfal) February 22, 2024

They’re even sitting in car lots longer than regular gas powered cars.

25% longer!

The buzz has gone! Demand for EVs continues to decline, with average electric car sitting unsold for more than 75 days – 25% longer than a regular gas equivalent, as Ford F-150 Lightning popularity slumpshttps://t.co/ePMat0u9Hv

— Ron Hiegel (@RonHiegel) February 15, 2024

Not to mention, the exploding, catching-on-fire-at-any-moment factor that comes with EV cars.

“Safest car” strikes again!

Shocking new video shows a fireball engulfing Tesla in the crash that killed a 20-year-old after he plowed into a pole in San Diego. Unclear whether perpetually defective $TSLA FSD Beta was engaged but expect Musk and fanbois to claim it wasn’t. pic.twitter.com/BRbCJuoRbY

— Facts Chaser 🌎 🤦🏻‍♂️ (@Factschaser) February 17, 2024

As well as the charging stations catching fire themselves!

https://twitter.com/OutbackAussie5/status/1759773604856889387