Why EVs Are Piling Up At Dealerships In The U.S.

In August 2023, it took about twice as long to sell an EV in the U.S. as it did the previous January. Prices of EVs are down 22% year-over-year and that’s mainly driven by Tesla. About two thirds of EVs sold are Elon Musk’s brand. Companies like Ford have ramped up hybrid production as demand has leveled off. While slightly more than half of consumers say EVs are the future and will eventually replace Internal Combustion Engines, less than a third of dealers say so. This all comes at a time when investments in EVs are more than ever. So what’s really going on? Watch the video to learn more. Chapters: 00:00 — Introduction 02:06 — Shifting preferences 05:48 — High costs and uncertainty 10:38 — A trend of a blip? 14:08 — The future Produced by: Robert Ferris Edited by: Dain Evans Senior Managing Producer: Tala Hadavi Animation: Christina Locopo, Andrea Schmitz Additional Footage: Ford, Getty Images, Lucid, Mercedes-Benz, Tesla » Subscribe to CNBC:  » Subscribe to CNBC TV:  About CNBC: From ’Wall Street’ to ’Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news:  Follow CNBC on LinkedIn:  Follow CNBC News on Facebook:  Follow CNBC News on Twitter:  Follow CNBC News on Instagram:  #CNBC Why EVs Are Piling Up At Dealerships In The U.S.