I just want to clarify having a bunch of EVs or not is not a show of success in my opinion. Toyota more recently and Kia/Hyundai have continued to make more affordable options while almost every other manufacturer has focused on trucks and SUVs. Toyota’s focus on CAFE seems to be to make a boatload of hybrids and make the regular Corolla extremely efficient. The result of incremental improvements across the board. I do see a lot of new Corollas here. Hyundai is on a big push for EVs and still offer their small cars. I still think small cars would be a great way to make strides in the market and I think it’s under served. It seems to be working for Toyota.Im not so sure Toyota is behind vs producing the vehicles that the masses want right now and the profits their shareholders want. After all the stock is now at an all time high up 70% in the last year and still trades at only 10 times earnings. Maybe as their earnings and sales numbers keep rolling along they will slowly build out EV offerings.
GM and Ford went gangbusters on EV development and plans only to realize they did too much for what the demand would ahve been and cut back. Even though (at first glance today of 1st quarter results EV sales are up 15% they did take a charge of about a billion plus dollars for unsold ones on lots. Still their profits for the quarter blew away the 1st quarter of 2023 and exceeded all predictions. Now with their paired down expectations they will still churn out EVs but not like what was planned.
Ford and GM gave up on cars. They make more expensive vehicles as a result. The whole push to buy an American badge isn’t an option for most that want a new affordable vehicle. There’s the Envista/Trax, but I don’t think they’re selling specifically because it’s playing a crossover. It’s a sorely lacking price point it sits in and cheap will sell.
They need to figure out what the masses want. I know I’m not the masses. I’ll keep buying my niche vehicles. Those don’t necessarily keep the light on. If they can’t sell to the vast majority of the people, there won’t be a company to make the stuff I want. It seems to most common complaint is the cost of new vehicles and more standard tech and options than we need causing it. I wonder how much of that can be attributed to only making higher trim larger vehicles? I’d say it’s safe to say that’s a huge part of it. Those aren’t cheap.