..the EV scene in China is very different to that in the US.
Dealers are getting absolutely CRUSHED on EVs:
The Ford Mustang Mach-E was selling for $10,000 ABOVE MSRP less than 2 years ago.
Today, this Mustang Mach-E is listed for $31,547 BELOW MSPR.
That's nearly 60% below the suggested selling price for a brand new car.
The worst part?
This car has been sitting on the market for 6 weeks and it still has not sold. An EV fire sale is an understatement for most manufacturers and dealers.
Who's going to buy all of these cars?
https://x.com/KobeissiLetter/status/1774191745661649342?s=20
Ford has ramped down production of its EVs recently as they are quickly realizing there is no demand. Inventory from 2023 has still not sold and its 3 months into 2024. Is Tesla simply dominating the market?
https://x.com/KobeissiLetter/status/1774192109756486104?s=20
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