Transportation
J.D. Power Cuts EV Sales Forecast in US
J.D. Power said it sees EVs accounting for 36% of US sales by 2030.
Photographer: Megan Varner/BloombergThis article is for subscribers only.
As mainstream car buyers continue to shun electric vehicles, automotive researcher J.D. Power said Wednesday that battery-powered models will account for just 9% of sales in the US this year, down from its previous forecast of 12.4%.
The revised projection comes a week after Ford Motor Co. retrenched its EV strategy, canceling an electric sport-utility vehicle and delaying a new plug-in pickup truck by almost two years. Other automakers, such as Volkswagen AG, have also pushed back production of EVs in response to slowing demand.