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“Little did we know how fast the free market would slap the electric vehicle mandate back to reality, while Canadian taxpayers continue to subsidize green fantasies.”
That’s Adam Pankratz, a lecturer at the UBC’s Sauder School of Business referring to plummeting sales of electric vehicles in North America.
“The signs emerged in September 2023 when Volkswagen announced it was ‘cutting EV output’ due to low demand and in November, Ford announced it would ‘be scaling back’ EV battery production due to lacklustre demand,” he said
As the new year emerged, EV news stayed on the same trend.
“General Motors, Mercedes-Benz and even Tesla warned EV sales were projected to be significantly lower than predicted.”
Add in Hertz’s decision to sell off most of its EVs and the message is clear — the market is cool on electric cars.
Pankratz joined a Conversation That Matters on electric vehicle sales and what that says about government directives versus market forces. Learn More about our guests career at careersthatmatter.ca
Join us June 18 for a Conversations Live on food security.
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