Ep 507 - A Bleak Market for EVs

Guest: Adam Pankratz

By Stuart McNish

“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,” says Adam Pankratz, a lecturer at the University of British Columbia’s Sauder School of Business. The “slap” is in reference to plummeting sales of electric vehicles in North America.

Pankratz says, “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 lackluster demand.” 

As the new year emerged, EV news stayed on the same trendline. Pankratz said, “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.

We invited Adam Pankratz to join us for a Conversation That Matters on the trajectory of electric vehicle sales and what that says about government directives versus market forces.

You can see the interview here https://www.conversationsthatmatter.ca/

Learn More about our guests career at careersthatmatter.ca

Join us June 18 for Conversations Live - Food Security