The middle class is not buying electric vehicles as hoped. What happened?

Automakers are now learning an important lesson: Not all car buyers are wealthy environmentalists. This should be obvious but apparently isn’t, which is why the auto industry is now wringing its hands over electric vehicle sales problems. General Motors, Ford, Mercedes, Nissan, Toyota and even Tesla have raised red flags about slowing demand. GM scaled back plans for 2024 and said it would delay the opening of a new electric truck factory. Ford is considering cutting shifts at its F-150 Lightning plant. Nissan is transferring more resources to hybrids rather than EVs. Mercedes has described th...