Unsold Electric Cars Piling Up, Forcing Dealers to Sell at a Loss

The electric vehicle (EV) market has shown remarkable growth over the past few years due to a rise in consumer interest about sustainable transportation, government support and battery technology advancement. On the other hand, due to a recent increase in EV production and shifting market trends (despite what we can read into those sales figures), there suddenly appear on forecourts to be more unwanted electric cars than anticipated. Auto makers are resorting to higher incentives, wider dealer markdowns and even selling cars at a loss in some cases. Here is a deep look into how this surplus has come to be, what it means for the automotive market and more importantly consumers.