GM Is Winning The EV Race And It Will Quit

Issue #148

Hello! Today, we discuss how the EV boom is over.

Just like sedans and minivans, they will continue to exist for the very selective customer. 

What are your thoughts? Let us know with a comment!

Market News

• Toyota’s decision to make the Highlander AWD standard might have made it irrelevant. Here’s why.

• Here’s the most reliable midsize pickup truck in the US for the past decade, and it might surprise you. 

• This article explains why these Tesla models depreciate the most out of any used car. 

• This car company says its flying cars will be operational by 2028. 

• Lamborghini will launch its most ambitious car in a decade, but it faces an identity crisis, as this article explains.

• Polestar is betting big on this car to help it compete with EV giants.

• This Kia SUV might be the car America needs.

• The Mazda CX-90 is much more expensive for 2026, but the 2025 models are still tempting. 

• Mercedes-Benz says its new Baby G will have this, setting it completely apart from others.

• Stellantis scraps this EV goal by 2030, causing a significant shift in its goals.

Safety and Recalls

• Toyota recalls 62,000 vehicles due to a malfunction that can hinder visibility.

• This recall affects 92,000 Jeep Grand Cherokee hybrids because they can lose power.

Car Culture

• Check out this full-size pickup review from 2002. Do you agree with the conclusions?

• There’s only one car with a 5-cylinder engine available in the US. Here it is, plus some history on the iconic engine.

• Here are the most powerful cars you can get with the Ford EcoBoost engine. Some of them are surprising.

• This model is probably the first one to come to mind when we think of Volvo. Now, it’s retired.

• In 2001, a $7 million car disappeared, and the mystery hasn’t been solved. Here’s more on the story.

• Police in this country finally catch a phantom driver racing a racecar on the streets. 

• This Ford hatchback deserved a better farewell. 

• Here’s how you properly restore and modify a Rolls-Royce and, yes, it involves removing one noticeable trait.

• The Lexus IS keeps soldiering on, this time with a revamp that has given it new life.

• Why did Chrysler destroy almost all turbine cars? Here’s the fascinating story.

Video Of The Week

TFL discusses all the details about Toyota’s new baby truck.

Save On Car Shipping!

I’ve used UShip twice to take delivery of a Jeep from Idaho and a boat from Florida. Both were great experiences, so I wanted to bring this service to your attention.

👉 Check out UShip here (or click the image)

Yes, that’s an affiliate link. No, it doesn’t cost you anything extra. But every click helps support this newsletter and keeps the content coming. Win-win.

In The Know

The EV Boom Is Over — Here’s What’s Next

In case you were wondering, GM makes excellent EVs, but no one seems to notice. The Chevrolet Silverado EV, for example, recently reached 454 miles in a highway range test, proving GM can compete with the best in performance and capability, as this article explains. 

Plus, it looks amazing. However, that’s not the only win GM has scored lately. The company also ranks second in U.S. EV sales, right behind Tesla. Here’s more on how GM achieved the ranking.

So, whether you're an automotive fan or not, this proves that GM can build EVs that Americans want to drive.

By the way, if GM really put its foot down, it could overtake Tesla as America’s #1 EV producer. After all, Tesla has its worst market share since 2017, as this article explains. 

But GM won’t push for that first-place spot, because none of this matters anymore. GM announced it is cutting investment in EV development, as The Verge reports. 

The company says there’s no reason to pour money into EVs if the market is about to shrink. In other words, even though GM makes good electric trucks and SUVs, its future EV lineup is already being slowed down.

At FWT, we’re sure it won’t be the only company doing so. But, why would GM make such a move? Because the end of the $7,500 federal EV tax credit has changed everything. 

In August, EV sales surged as buyers rushed to take advantage of the last month of the credit, as USA Today explains. 

This $7,500 rebate was considerable, and now fewer buyers will be willing to pay the premium that EVs still carry compared to gas or hybrid models. We discussed how hybrids are now the “best of both worlds” here. 

So what happens now? 

While researching, I came across this article from Yahoo Finance titled “EV Armageddon.” Clickbaity, no doubt, but not entirely inaccurate. 

After all, without the tax credit, the article explains that sales could fall by half for companies like Tesla, GM, and Ford. That’s not because EVs suddenly got worse—it’s because they’re still expensive, and the math no longer works for many households. 

Let’s use the Silverado as an example. The gas-powered version starts at around $38,000 and tops out at around $70,000. Meanwhile, the EV version starts at $57,000 and tops out at nearly $100,000! 

Check out the comparison between ICE and EV in Car and Driver. 

Looks and performance aside, some of these numbers don’t make sense, and Chevy isn’t the only example. You can read the comments in this article to gauge the real reason why people won’t buy EVs.

So, what was August all about? If you took a picture in August, you’d say that EV sales are great, but it’s not an accurate representation of reality. If anything, it’s a blip on a radar that’s otherwise shutting down. 

EVs will still exist, and some people will keep buying them, just as some people still buy sedans and minivans. Mass adoption? That’s unlikely. 

Instead, automakers will shift their attention back to hybrids and traditional gas-powered vehicles (including V8s)—cars and trucks that can still sell without government support.

However, all this might change in eight months (give or take) when automakers are desperate to sell off old inventory. We might land some good discounts.