Influential US media company Forbes suggests that while Global electric car sales surged from 3 million to 14 million between 2021 and 2023, they’ve since hit a wall. Forbes reports unsold inventories of electric cars have been clogging dealers lots while manufacturers from the biggest brands down are cutting back on production and investment plans. It’s no different in China, as their economy softens EV demand has cooled and a price war has broken out – the oversupply being fed to Europe where Governments are introducing new tariffs to protect their manufacturers from cheaper imports. In Australia, our swashbuckling Energy Minister Chris Bowen has announced the Government will provide car dealerships with a $50 million dollar credit line to purchase electric cars which he estimates will help put 20,000 electric vehicles on our roads over the next two years – who’s kidding who.

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