Major Automakers Come Clean, Admit Americans Aren’t Buying Electric Vehicles

Top major carmakers issued grim announcements about EVs this week.

Jim Farley, CEO of Ford Motor Company, poses with the new all-electric F-150 Lightning performance truck at its reveal at Ford World Headquarters in Dearborn, Michigan on May 19, 2021. Bill Pugliano/Getty Images

Executives with General Motors, Ford, and Mercedes-Benz this week conceded there is a weakening demand for electric vehicles, with some announcing they would pull back on their own EV targets.

“It’s been a challenging situation, for sure,” Ford CEO Jim Farley said Thursday in an earnings call with investors, referring to the American market for EVs, according to an earnings call transcript.