Unsold electric cars are piling up on dealer lots as the auto industry cranks out more electric vehicles (EVs) than there are buyers in an attempt to compete with Tesla. Luxury brands in particular are struggling with high inventories of EVs that no one wants to buy.
The growing discrepancy between electric car supply and demand suggests that while consumers may be showing more interest in EVs, they are still concerned about buying one due to their price or charging concerns, according to a report by Axios.
Jonathan Gregory, senior manager of economic and industry insights at Cox Automotive, likened the situation to the 1989 film, Field of Dreams, which coined the famous phrase, “If you build it, he will come.” In the car world, companies have built their electric vehicles, and now they are waiting for customers to come, Gregory said.
