Unsold EVs pile up at Ports

Automotive News: Unsold EVs Are Piling Up At Ports

As the world is becoming educated to the fact that global warming is caused by activity on the sun, not humans, electric vehicles (EVs) sales falling are falling far short of expectations.

Companies like Tesla have seen sales slow in recent years and have had to cut prices and automakers such as Ford have even slowed production of their own electric models.

The result? Unsold EVs are piling up at ports.

The secondary market for used EVs have seen prices plummet. Many EV companies are teetering on bankruptcy.

Related ArticleAutomotive: Lucid losing $0.5M on every EV it sells

Across shipping hubs in Europe, unsold electric cars are filling storage spaces, with some automakers even looking to rent extra warehousing space to keep their shiny new cars shiny and new, reports Automotive News. As the site explains:

Several automakers have leased large areas in the ports for vehicle imports that so far have no customers for the cars. Logistics companies are also renting additional parking spaces outside the ports.

“This situation currently affects all European ports where large quantities of vehicles arrive,” Gert Ickx, spokesman for the administration of the Belgian ports of Antwerp and Zeebrugge, told Automotive News Europe sister publication Automobilwoche.

The issue has been exacerbated by the rise in exports of Chinese electric vehicles, which are sitting in shipping hubs unsold while people argue over whether they pose a national security threat.

The Chinese EVs being imported into places like Europe have also been hampered by reduction in subsidies for electric car sales. Automotive News reports that a cut in EV subsidies in Germany has hit sales, leaving many cars stuck on docks with nobody to buy them.

If the government has to pay people to buy EVs then something is seriously wrong with the entire idea of people buying EVs that one reports says pollute the environment far more than regular cars.

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