The average debt in America is almost $60,000 across credit cards, mortgages, auto loans, and student loans. The common folks need a workhorse vehicle, not just a second car toy that sits in the garage to be used on short ventures!
Inflation has changed the way many Americans shop. Fed up with prices that remain about 19 percent on average, above where they were before the pandemic, consumers are fighting back. More Americans are buying used cars, but there has yet to be a used EV market!
Mandating a change to EV ownership and further financial austerity onto those that can least afford it, is facing a rebellion from those that need transportation. The problem is that manufacturers are loading up the “supply chain” with EV’s on dealer lots, but they’re not seeing the “demand” for EV’s coming from the public.
The current EV ownership profiles are reflected in the oligarchic elite owners are that they are:
Highly educated.
Highly compensated.
Multi-car families.
Low mileage requirements for the families’ second car, i.e., the EV.
Reside in a “temperate” climate like CA or FL. Almost 40% of EV’s are in CA and CA has 6 times as many EV’s as FL.
Unlike the profile of current EV owners, the owners of internal combustion engine vehicles are dramatically different from most potential EV vehicle owners.
Many are single-car owners,
Most of the potential car buyers are not as highly educated.
Nor as highly compensated as the elite EV owners.
Mandating a change to EV ownership and forced austerity, may face a rebellion from those that need affordable vehicle transportation.
As you all know, with more than 1.4 billion vehicles in the world, and almost 300 million trucks in the world, there’s been a mandate movement to have EV’s replace ICE vehicles to reduce emissions from the vehicular transportation sector.
Well, to-date, it’s a mandate failure as we’re running short of the elites that are buying them, and the auto manufacturers are starting to absorb the financial hits !
The previous worldwide gasoline usage peak was in 2019 before the Pandemic.
Today, there are 30 million EVs on the world’s roads that are owned by the elites that can afford them, and are mainly 2nd vehicles parked in the garage, or with low mileage usage, vs the high mileage workhorse vehicles that are internal combustion engines.
Today, there are also hundreds of millions of workers that now work virtually since the Pandemic and thus do not “drive” to work as often.
Well, even with those 30 million EV’s and millions of workers not driving as much, gasoline usage continues to rise. The International Energy Agency (IEA) reports that global gasoline consumption in 2023 blew past the pre-lockdown 2019 peak !
