What is driving the crash in the electric car industry? Manufacturers have ignored the basic tenets of marketing to their cost, according to this report by our Crash Investigation Unit.
The electric vehicle (EV) industry, once heralded as the future of transportation, is currently navigating a tumultuous phase marked by significant marketing and operational challenges. Despite the rapid advancement of technology and strong initial consumer interest, the industry is facing a series of setbacks that are stalling its growth.
An oversupply of vehicles, a mismatch between product offerings and consumer expectations, along with aggressive pricing strategies, are contributing to a mounting inventory of unsold cars.
This situation is exacerbated by inadequate charging infrastructure and uneven distribution, which further dampen consumer demand. Regulatory pressures to meet ambitious zero-emission targets have led automakers to ramp up production without a corresponding increase in market demand, creating an unsustainable bubble reminiscent of past economic collapses.
This analysis aims …