Slow-selling EVs pose a challenge to the automotive industry

Automakers North America have billions of dollars in EV-related investments riding on how the next several quarters play out. — Reuters

THE US electric vehicle (EV) market is growing, but not fast enough during the latest quarter to prevent unsold EVs from stacking up at some automakers’ dealerships or to allow Tesla to avoid new price cuts, according to analysts and industry data.

Rising inventories and price-cutting could represent only a short-term pause in EV market growth.