An excerpt from the letter reads as follows:
“Early adopters formed an initial line and were ready to buy these vehicles as soon as we had them to sell. But that enthusiasm has stalled. Today, the supply of unsold BEVs is surging, as they are not selling nearly as fast as they are arriving at our dealerships – even with deep price cuts, manufacturer incentives, and generous government incentives.”
Aside from Tesla, legacy brands are struggling to shift to electric vehicles. Even strong sellers, like the Hyundai Ioniq 5, trail behind their ICE-powered compatriots. In the third quarter of 2023, the Korean brand delivered 11,665 examples to customers. However, the similarly sized (and cheaper) Tucson managed 52,589 units in the same period.
The group includes dealerships from every state, with the majority based in Florida (413), California (336), Texas (281), Michigan (211), and Illinois (172). They are pleading with President Biden to allow time for battery technology to advance and for more affordable EVs to reach the market.
