Economist Predicts Electric Vehicles Could Be the Next Edsel as Buyers Shun EVs Despite Government Incentives
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Economist Steve Moore said electric vehicles (EVs) could become the "next big flop" like Ford's failed Edsel model in the 1950s.
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Moore said car buyers don't want EVs, citing losses at Ford and GM from their EV units.
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Moore argued that automakers are being forced into EVs by government mandates and subsidies despite lack of consumer demand.
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He said dealers have lots full of EVs that only 10% of customers purchase.
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Moore suggested automakers should focus more on hybrids, which he believes consumers would prefer over pure EVs.