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| Economy |
| EVs are poised to be automakers' next big flop |
| 2023-11-02 |
| [ET via ZERO] Stephen Moore, senior economist at FreedomWorks and once a senior economic adviser to former President Donald Trump, has issued a grim prediction about America's electric vehicle (EV) market, saying EVs are poised to be automakers' "next big flop." Mr. Moore's grim prediction for the EV market came in an interview on Fox News's "Varney & Co." program on Oct. 30 and an op-ed in The Daily Caller on Oct. 29, in which the economist compared the current EV push to the failed rollout of the Ford Edsel. "One of the textbook marketing flops of all time was the Ford Edsel sedan, which was heralded as the hot new car in the late 1950s," he wrote in the op-ed. At the time of the Edsel launch, automotive experts widely expressed the view that the sedan—named after Henry Ford's son—would be a sure thing. However, instead of sales in the hundreds of thousands, as experts generally predicted at the time, the Edsel sold a paltry 10,000 or so units and was discontinued. A key factor behind the Edsel's flop is, according to Mr. Moore, that the car was pushed on a public that didn't want it. "The obvious lesson for the industry: you can’t bribe Americans to buy cars they don’t want. Given the all-in approach mentality for EVs at Ford and GM, it’s clear that Detroit never got this message," he wrote. |
| Posted by:Besoeker |
| #8 No resale value. Replacing the battery packs is insanely expensive. |
| Posted by: magpie 2023-11-02 16:10 |
| #7 Why do you think Grrrrreta latched on to the Gaza thing so quickly? The EV scam is burning down at the rate only a lithium fire can burn. |
| Posted by: M. Murcek 2023-11-02 09:56 |
| #6 @Insty: The true cost of an EV? Think tank claims subsidies for electric vehicles cost $50,000 PER CAR over a ten-year period. |
| Posted by: Frank G 2023-11-02 09:54 |
| #5 More to the point, Edsel was a company design/initiative. EVs are being forced on the public by politicians and activists, and they're not desired but by a few. |
| Posted by: Frank G 2023-11-02 09:44 |
| #4 "One of the textbook marketing flops of all time was the Ford Edsel sedan, which was heralded as the hot new car in the late 1950s," he wrote in the op-ed. At the time of the Edsel launch, automotive experts widely expressed the view that the sedan—named after Henry Ford's son—would be a sure thing. However, instead of sales in the hundreds of thousands, as experts generally predicted at the time, the Edsel sold a paltry 10,000 or so units and was discontinued. A key factor behind the Edsel's flop is, according to Mr. Moore, that the car was pushed on a public that didn't want it. ...Not quite so much that they didn't want it, but it took so long to plan and execute (and cost more than original estimates) that the price point was out of whack with its intended market. The weird grille and name didn't help, but the pricing was the biggest drawback. By the way, the Edsel's delay due to repeated market surveys and statistical gathering was due in no small part to the president of Ford at the time...fella named Robert MacNamara. Yeah, that one. Mike |
| Posted by: MikeKozlowski 2023-11-02 09:06 |
| #3 /\ Anti brake skid brakes... 100+ years with pro-valves and GM computerized breaking systems. No more GM for me. |
| Posted by: Besoeker 2023-11-02 08:14 |
| #2 Prior flops including catalytic converters, anti-brake skidding systems, lap belts, dashboard entertainment systems, naturally aspirated engines, eyesight camera systems and the Wankel. |
| Posted by: Skidmark 2023-11-02 07:50 |
| #1 I understand GM has redirected their efforts to hydrogen. Toyota has interests in all possible products to market.Reason being poor countries could not afford Ev's.In the old days con men were called slickers. They were kicked out of town when people caught onto them.Today they are politicians and can ply their skills indefinitely. |
| Posted by: Dale 2023-11-02 06:43 |