Transportation
EV Inventories Hit Record High in US as Cars Pile Up on Dealer Lots
- Now 114 days’ worth of supplies in US, twice last year’s level
- Both Ford and GM are pulling back on production plans
Ford Motor Co. this week told suppliers it is cutting 2024 production in half for its F-150 Lightning plug-in pickup, its signature EV.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Electric vehicle inventories on US dealer lots reached a new high in December, with a 114-day supply that was more than double what it was a year ago.
The nearly four-month inventory of EVs is up from a 53-day supply a year ago and compares to 71-days worth of inventory for the overall auto industry, researcher Cox Automotive wrote in a blog post Thursday.