Electric Vehicle Sales Growth Has Stalled
General Motors delayed EV pickup production and Honda canceled a deal to build affordable EVs with GM.
Ford Motor Company said it is pushing back $12 billion in EV spending, reducing Mustang Mach-E production and delaying one of two planned battery plants.
EV-only maker Tesla saw its revenue growth fall in the third quarter to its slowest pace in more than three years.
Industrywide last month, dealers had 97 days' supply of EVs, excluding Tesla and Rivian, compared with 57 days for internal combustion engine vehicles, according to Cox Automotive.
Battery-electric vehicles made up 7.7% of U.S. light-vehicle sales in September, down from 7.8% in August, according to S&P Global Mobility. Early estimates show share declining again to 7.5% in October.
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