July 29, 2024
The markets are finally realizing that fundamentals matter.
Mercedes plunged on Friday as sales of its slick new range of EVs went into freefall. Net profits were down 21% on Friday.
Porsche abandoned its sales targets for battery-powered
Ford is losing nearly $50k on every EV it sells, while Tesla’s profits dropped 45%.
Battery manufacturers such as Germany’s Varta are getting hammered.
Economists have long warned that net zero provides a golden opportunity for waste and rent-seeking. But some elites chose not to listen. We should start holding them accountable.
Lobbyists argued for the subsidies, civil servants supported them, and finance ministers enthusiasticall
Posted by: Timothy Birdnow at
07:21 AM
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Posted by: Mike at July 29, 2024 08:34 PM (FLkMO)
Posted by: Timothy Birdnow at July 30, 2024 07:24 AM (cCrFl)
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