On Thursday, Ford Motor announced the delay of an all-electric SUV and pickup truck instead shifting focus to offering hybrid options in North America.
FILE - The Ford F-150 Lightning displayed at the Philadelphia Auto Show, Friday, Jan. 27, 2023, in Philadelphia.
The announcement comes amid sagging electric vehicle sales as Americans appear less and less eager to give up their. EV sales grew just 2.7% in the first months of 2024 compared with last year’s 47%. “We have this crossroads right now where enthusiasm meets reality," explained Ivan Drury, the director of insights for Edmunds. "You’re not having those early adopters who you know, were willing to concede on many aspects of the vehicle.”
A recent study by Boston Consulting Group found consumers who are hesitant to buy EVs worry most about range, charging time and sticker price. “In the current market environment, high-interest rates and gas prices have been relatively low, I think consumers are just kind of hitting pause on EVs,” said Kevin Roberts, the director of industry analytics with CarGurus.“You can get a lot of the benefits of electric vehicles, particularly with the plug-in hybrids, without the limitations, if you need to go on a longer road trip you have that internal combustion engine on board," explained Roberts.
INC. Kevin Roberts FORD MOTOR COMPANY Cargurus Ford Motor China North America United States THE WALT DISNEY COMPANY Boston Consulting Group FOX NEWS NETWORK LLC Fox News Janet Yellen Edmunds Pete Buttigieg Ivan Drury Business_Finance Environment The Boston Consulting Group S.A. Electric Vehicle Electric Vehicle Conversion Fossil Fuel Phase-Out Electric Car Sustainable Transport Hybrid Vehicle Plug-In Hybrid Electric Vehicle Policies In Australia Electric Vehicles Electric Car Use By Country
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
100 laps of the M25 in the 1998 COTY-winning Ford FocusWhile the original Ford Focus is now renowned and loved, when it won COTY we gave it a much harder time
Read more »
Ford Delays EV Pickup And Three-Row Electric SUV To Focus On HybridsFord's three-row electric SUV would compete with a similar upcoming product from Toyota and several others in what is a popular segment in the U.S.
Read more »
Ford Delays Production of All-Electric SUV, Shifts Focus to HybridsFord is postponing production of a new all-electric three-row SUV and instead prioritizing hybrid options across its North American lineup by 2030. The decision is driven by market conditions and challenges in building and selling EVs profitably.
Read more »
Ford Bronco vs. Jeep Wrangler: Which One Do Americans Want to Buy?A comparison of the sales performance of Ford Bronco and Jeep Wrangler in the first quarter of 2024 in the U.S.
Read more »
First ride: Is new Ford Explorer a 'proper' Ford?We finally get a taste of Ford's bold new electric SUV as it goes on sale in Europe
Read more »
US drops in ranking of happiest countries, dragged down by less satisfied young peopleAmericans, particularly younger Americans, are less happy, according to a new report from Gallup.
Read more »