the staff of the Ridgewood blog
Trenton NJ, while Governor Murphy continues to push his all electric vehicle mandate ,Toyota’s Chairman and former CEO, Akio Toyoda, has been a vocal skeptic of the electric vehicle (EV) hype, which contributed to his stepping down from the CEO role earlier this year. With Tesla reporting disappointing third-quarter earnings, it seems that some investors are reevaluating the profitability of EVs. In an “I told you so” moment Toyoda said, “People are finally seeing reality.”
This earnings season has highlighted a decrease in demand for electric cars, starting with Tesla’s bleak earnings report. Several other major automakers, including General Motors, Mercedes-Benz, Honda, and car rental company Hertz, have also expressed concerns or provided less optimistic commentary on the state of the EV market.
For investors, this shift has been a wake-up call. The valuations of many EV stocks have been based on the assumption of rapid industry expansion. If this growth doesn’t materialize as expected, share prices may decline, and startups may struggle to secure capital in the unprofitable EV sector.
Craig Irwin, an analyst at Roth Capital Partners, noted that there was often an overly aggressive stance on EV adoption, and the current market adjustment represents a recalibration toward reality. The hype surrounding EVs is starting to face more sobering assessments, and the future of the industry remains uncertain.
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Arrogant Murphy won’t admit to the lowering demand and like every elite liberal, will push fwd w his plan regardless of the facts and the view of voters.
For my family , we will stick with gas powered cars until the very end when they are no longer available. I don’t trust EV cars. The anxiety alone of driving worrying about the charge all the time is scary. Not to mention, that charging will take longer than getting gas. This is just our opinion.
That’s right, it’s just an opinion. And you should stick with what works best for you.
The coerced EV revolution will fail for the same reason all centrally planned things fail.
If it fails, it should fail on its own merits. Nobody should be coerced.
These central planners don’t seem to think there are any consequences to their actions, but then central planners never do.
Expect to hear the words “technicians,” “saboteurs,” etc. Because it’s always somebody else’s fault.
And what about the people that do not live in single family homes with garages where they can/could charge a car. Think of all these rental/”15 minute cities” they’re putting up. Wait on line to charge your car? I don’t think so. Oh oops, I forgot, they don’t really want most folk to own or have a car.
Someone just had to put $15,000 in repairs to their EV and were told not to drive it in the rain. Lovely.
My family just bought all brand, new gas vehicles, electric vehicles, need improvement and need to lower the cost, and that’s OK may be for 30% of the market. It’s not for everyone. Thank you.
If you buy an EV because you want a new trendy car ; fine .
If you buy because you want to lower your carbon footprint and help stave off climate change ; you have been duped.
The carbon footprint to manufacture & maintain an EV is large. Not to mention the world demand has caused a massive stripping of mines in African countries for the Lithium & Cobalt . ( no worries , these African countries have wonderful Work labor laws , unions , work comp , OSHA & oh yes , wonderful child labor laws.
Fu$# Murphy…just bc he’s got coin down with his wall street scumbag friends pushing the EV agenda doesn’t mean we gotta buy it. F U $# YOU !