CAL THOMAS COMMENTARY MARCH 22, 2024
THE BIDEN ADMINISTRATION WANTS US TO BUY ONLY BATTERY-OPERATED VEHICLES IN THE FUTURE BECAUSE OF ITS CULT-LIKE BELIEF IN CLIMATE CHANGE.
A WALL STREET JOURNAL EDITORIAL GETS IT RIGHT: “EV’S MADE UP LESS THAN 8 PERCENT OF NEW AUTO SALES LAST YEAR, AND MORE THAN HALF ARE TESLAS. THEY ACCOUNTED FOR LESS THAT 4 PERCENT OF GENERAL MOTORS AND FORD SALES.
“THE AVERAGE PRICE OF A NEW EV IS ROUGHLY $50 THOUSAND, AND ONLY TWO COST LESS THAN $40 THOUSAND: THE CHEVY BOLT AND NISSAN LEAF. SOME MAKERS HAVE SLASHED EV PRICES TO BOOST SALES, BUT THEY ARE LOSING MONEY. FORD RAN AN OPERATING LOSS OF $4.7 BILLION ON ITS EV BUSINESS IN 2023, EQUIVALENT TO $64,731 PER EV SOLD.
“THE COMPANIES ARE HEAVILY SUBSIDIZING EVS WITH PROFITS FROM GAS-POWERED CARS. THIS MEANS MIDDLE-CLASS AMERICANS IN FARGO ARE PAYING MORE FOR GAS-POWERED CARS SO THE AFFLUENT IN NAPA VALLEY CAN BUY CHEAPER EVS. THIS COST-SHIFT WON’T BE FINANCIALLY SUSTAINABLE…AND IT MAY NOT BE POLITICALLY SUSTAINABLE EITHER.”
ANY QUESTIONS? I’M CAL THOMAS.
