The EV Bloodbath: By the Numbers

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This was always going to be bad—just not this bad. Forced EV mandates turned into one of the most expensive industrial blunders in modern auto history. Since 2022, major U.S. and European automakers have burned through an estimated $114 billion on EV programs, with legacy brands alone losing over $83 billion.
When subsidies vanished, demand collapsed. Inventory piled up. Losses exploded. EVs didn’t fail because of innovation—they failed because consumers were pushed, not persuaded.
EVs have a place, but it’s a niche—not a mandate. The lesson is simple: don’t force people to buy what they don’t want.