America’s spendthrift relationship with electric vehicles has lost some spark. It will take new generations of products to rekindle the romance on tighter budgets.
Sales of all-electric models in the U.S. have plateaued around the 100,000-a-month mark for the past half year after a period of rapid growth. Inventories are piling up and prices are falling, led by market leader Tesla. The average new EV sold for about $52,000 in October, down from around $65,000 a year ago, according to Cox Automotive.
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