'23 C8 3LT Convertible Z51
I'm also not intimately familiar with the inner workings of the EPA. However, I know for certain that they're controlled by the executive branch and the EPA director is an appointed position. Of course they have to operate within the bounds of the law, but Congress doesn't mandate anything to them except their budget. This is why the Supreme Court and other lower Federal courts routinely strike down certain policies as they are one of the co-equal branches of government whose responsibility is judicial oversight. This played out earlier this year when they struck down the EPA's desire to further regulate the power plant industry.I did not realize that. I was under the impression that congress allows or restricts what regulations the EPA can put into practice. Is that not correct? Shouldn't congress be able to tell the EPA that they have to rewrite new regulations far less restrictive for American auto makers? I could be way off on that but that was my understanding of how the EPA works. Like several have mentioned on this thread the ideal result as the regulations stand now is that no one or VERY few people buy these new EVs and the automakers take an absolute bath on them. Then, the U.S. Government would be forced to change the rules or risk seeing the American automakers fall into bankruptcy, and as a result have to lay off tens of thousands of employees directly which will in turn eliminate 100s of thousands of jobs both upstream and downstream in the industry. If that happens then whomever is in office from the senate to congress to the president can kiss their political lives goodbye!
The prime issue at hand with the CAFE regulations is that these were passed in 2016, updated in 2019, rescinded under Trump, and reinstated under Biden on day 1 in 2021. If the courts were going to strike anything down, they'd have done it back in 2019 when they updated the regulations.
I think in a few years (maybe sooner as manufacturers start pushing new EV models), the whole adoption of EVs is going to move ahead. If you look at the coming landscape, there's hordes of under $30,000 EVs coming. They are nothing special... 150ish power with 225ish miles of range for the budget EVs. I do think you're going to see a huge shift away from the luxury EV market... as those are almost all that are being made right now... the $50k+ segment. Companies like Tesla are going to truly need to adapt or get swallowed up if they want to remain relevant. This year, Tesla is slated to be overthrown by VW in the EV sales market. If things don't change, Ford will surpass Tesla in 2024-2025 and GM and Toyota soon thereafter.
Right now, the prime arguments against EVs are baseline high cost and charge availability (limited charging stations, inability of the grid to cope). In the very near future, the cost on the economy EVs will be in line with current economy small-midsize sedans. The average car buyer is dumb and will just buy the cheap car without any thought on how they'll charge it. Once those el cheapo EVs start flooding the roads, those currently mostly unused Charge America chargers will start getting full and then the reality will start to creep in for anyone who doesn't have access to a home charger. At that point, we'll see how the market adapts. In the next 2-3 years, it'll be a boon for the budget EV models, but it may very well dry up.
I think you'll see a lot of micro market shifts away from things like performance EVs and ultra lux EVs. There will always be some of them around, but most performance drivers don't want a 5,000lb car, regardless how fast it is in a straight line. In my mind, the EV revolution will look a lot like the car market in the early to mid '80s where everything ends up looking the same and having the same ho-hum non-exciting driving experience. Times change and so will the markets, but at least in the next 5 years, I think we're about to go through the early 80s again as manufacturers focus on marketability and profits over innovation.