Why automakers are backtracking on their ambitious EV game plans

News Snapshot:

As summer unfolds with spring in the rear-view mirror, sales staff at car dealerships across the country are clearing out inventory to make way for the new 2025 models coming in the fall. But one car group is still clogging up dealer lots: EVs. The relatively high cost of EVs, range anxiety, and American consumer preference for hybrids are a few factors to blame. The latest data from S&P Mobility finds that EV inventory at the end of April climbed 5.7% compared to the prior month and rose 105% compared to a year ago. This despite steep discounting for EVs...