If EV sales are supposed to be going down, why are they still going up?

Enrique Dans
Enrique Dans
Published in
4 min readApr 23, 2024

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IMAGE: A graph with the growing sales of electric vehicles in China, Europe and the US, with a bubble on each first quarter saying “EV sales are down!!”, underlining how legacy automotive brands try to generate fake news
IMAGE: Modified from IMAGE: Modified from the International Energy Agency (IEA)

Why are we still being bombarded with false information about EVs? In recent weeks, the media has been awash with stories along the lines of: “sales of EVs have plunged, with manufacturers holding onto many unsold vehicles”. The idea behind this is to put people off buying a “battery-powered” car and to stick to with reliable internal combustion engines (ICE).

But like so many other myths about EVs, it’s all lies. Let’s not forget that the motor industry is the number one advertiser in many media outlets, and as such, it has the ability to push whatever news it wants. Flip through a magazine or a newspaper, and you’ll find car ads. Turn on the TV, and you’ll see more car ads. Ford spends on average about $468 per vehicle it sells on advertising, Toyota $454, GM $394, and Chrysler $664; Tesla spends nothing at all. When it comes to spreading fake news, the traditional auto industry has the whip hand, and much of the media is still prepared to print whatever it tells them to. Who pays the piper calls the tune.

As a result, the legacy motor industry has been getting away with murder for decades. Remember the long-tailpipe story about EVs generating more emissions than ICE vehicles? All lies. Taking into account the entire cycle from manufacture to retirement, an EV’s emissions are between 60% and 68%

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Enrique Dans
Enrique Dans

Professor of Innovation at IE Business School and blogger (in English here and in Spanish at enriquedans.com)