The Biden administration and its green energy agenda have been a source of frustration for conservatives. They’ve been pushing electric vehicles (EVs) as the solution to all our environmental problems, but one company has managed to avoid the hype and come out on top. Toyota, the smart folks at Toyota, have gone a different route by focusing on their hybrid vehicles instead of jumping on the EV bandwagon. And boy, has it paid off!
Toyota Did Not Go Green With Electric Vehicles, Now They Are Going Green in Earningshttps://t.co/3obX78K2YT
— RedState (@RedState) February 7, 2024
Toyota recently announced that they expect to make a whopping $30 billion in profit for the fiscal year ending in March. That’s a whole lotta cash, folks! And you know what’s even better? Toyota’s stock prices have been soaring while other manufacturers’ electric models are sitting on dealership lots, collecting dust. It just goes to show that sometimes it pays to stick to what you know works.
Meanwhile, American automakers like Ford and General Motors have been struggling in the EV market. Ford had to slash the price of its electric F-150 pickup truck by $10,000 because no one wanted to buy it. And General Motors reported a loss of $1.7 billion in the fourth quarter of 2023, all thanks to their line of EVs. It’s clear that Americans aren’t as excited about EVs as the Biden administration wants us to be.
Why aren’t we jumping on the EV bandwagon, you ask? Well, for one, they’re just too darn expensive. On average, EVs cost $10,000 more than traditional vehicles. Who’s got that kind of money lying around? And let’s not forget about the issue of charging stations. A J.D. Power survey found that many EV owners couldn’t even find a working charging station when they needed one. And don’t get me started on what happens when the weather gets cold. Cold weather wreaks havoc on EV charging stations, leaving owners stranded and frustrated.
But here’s the real kicker: Toyota Chairman Akio Toyoda knows that EVs are never going to dominate the car market. He believes that they won’t make up more than a third of sales. And you know what? He’s probably right. He also points out that there are still around 1 billion people in the world without electricity, so the appeal of EVs is limited. What a novel concept – letting customers decide what kind of vehicles they want to buy instead of forcing them down our throats with regulations and politics.
So let’s give Toyota a big round of applause for being smart and avoiding the EV craze. They’ve shown us all that it’s okay to go against the grain and stick with what works. Maybe other automakers will take a page out of Toyota’s book and focus on hybrid vehicles instead. Only time will tell, but for now, let’s celebrate Toyota’s green earnings and hope that the Biden administration takes note.