The auto industry doesn't love admitting this, but it was really hoping that last year would be like the early 1970s were for color television—the point where a new technology takes off while an older one could begin to be phased out. With electric vehicles, adoption is proving to be less predictable than they wanted. Now many automakers want to dial back expectations for EV adoption. They've already convinced their shareholders. Their dealers work every day to dissuade consumers. And it's certainly good for their balance sheets in the short term.
