EV Adoption Surges, Impacting Auto Dealers and Used EV Prices

The supply of electric vehicles (EVs) on dealer lots in the US has reached 92 days, more than double the average inventory for all models, causing concern among dealers. While 53% of car buyers see EVs as the future, only 31% of dealers share the same sentiment, according to a survey by Cox Automotive. Wall Street is skeptical of ambitious EV growth plans, such as Ford's aim to produce 2 million battery-powered vehicles annually by 2026. The piling up of EV inventory suggests that the average consumer finds EVs either too expensive, too inconvenient, or both, highlighting the limitations of mandates in driving adoption.