Electric Cars: Still Unpopular With Buyers and Unprofitable for Sellers

Electric Cars: Still Unpopular With Buyers and Unprofitable for Sellers, by Charley Grant.

The car of the future will be electric, connected and, eventually, self-driving. But where does that leave the car industry of the future? …

A new generation of long-range, affordably priced electric cars is about to hit the market, showing that auto makers can produce alternatives to gasoline-powered vehicles. What auto makers haven’t shown is that they can actually sell these vehicles and earn real profits. …

Despite the wave of new models, there are good reasons to believe the transition will be long and painful for the auto industry.

For one thing, manufacturers of electric cars must be able to make money. Tesla, which sells only electric vehicles, has posted a net loss of $550 million so far this year. The bigger problem is that, Tesla-lovers notwithstanding, few people want to buy electric cars. Instead, low gas prices have seduced them into buying pickups and sport-utility vehicles, which makes the auto industry very happy.

Electric cars are terrific apart from the batteries. Which makes them too expensive with too short-range.