\n<\/p>\n
CBNC admitted that the push toward electric vehicles (EVs) has failed.<\/p>\n
\u201cEV euphoria is dead,\u201d the outlet wrote<\/a>. <\/p>\n The outlet then described that major car companies, such as Ford, GM, Mercedes-Benz, and others are reducing their EVs to give consumers a greater choice.<\/p>\n According to CBNC, an \u201call-electric future\u201d is still in the works, but \u201cat a much slower pace\u201d than originally thought.<\/p>\n \u201cWhat we saw in \u201921 and \u201922 was a temporary market spike where the demand for EVs really took off,\u201d said chief operating officer for Ford\u2019s EV unit, Marin Gjaja. \u201cIt\u2019s still growing but not nearly at the rate we thought it might have in \u201921, \u201922.\u201d<\/p>\n Last year, thousands of car dealership owners across the United States signed<\/a> an open\u00a0letter<\/a>\u00a0to the Biden administration opposing the push for electric vehicles (EVs).<\/p>\n More than 3,800 auto dealers wrote, \u201cWe are deeply committed to the customers we serve and the communities where we operate, which is why we are asking you to slow down your proposed regulations mandating battery electric vehicle (BEV) production and distribution.\u201d<\/p>\n \u201cLast year, there was a lot of hope and hype about EVs. Early adopters formed an initial line and were ready to buy these vehicles as soon as we had them to sell. But that enthusiasm has stalled,\u201d the letter added. \u201cToday, the supply of unsold BEVs is surging, as they are not selling nearly as fast as they are arriving at our dealerships \u2014 even with deep price cuts, manufacturer incentives, and generous government incentives.\u201d<\/p>\n \u201cWith each passing day, it becomes more apparent that this attempted electric vehicle mandate is unrealistic based on current and forecasted customer demand. Already, electric vehicles are stacking up on our lots which is our best indicator of customer demand in the marketplace.\u201d<\/p>\n The EV failure comes<\/a> as buyers are \u201cjust not coming,\u201d according to a Washington car dealer.<\/p>\n \u201cIt\u2019s always been the \u2018build it and they will come\u2019 strategy,\u201d Vince Sheehy\u00a0told<\/a>\u00a0Business Insider. \u201cAnd they\u2019re just not coming.\u201d<\/p>\n