Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Dark Days for Electric Cars

Details

  • Description

    FBN’s Gerri Willis on the lackluster sales for electric cars despite tax credits to lure consumers.

  • Duration 3:30
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

You know this number.

Three dollars and eighty cents.

We told you about a little earlier in the show but.

This the national average for -- cost for a gallon of gas again that's nationally may be paying -- you may be paying less.

What are these states Hawaii California Alaska Illinois.

In each of these states gas is over four dollars a gallon on average seven more states are nearing the four dollar mark.

So you would think the rising gas prices are record at this time of year would inspire Americans to go electric right after all.

Why pay four dollars for gas when you get a plug in car.

But here's the shocker drivers are not going Green.

In fact according to USA today and the Detroit Free Press quote these are dark days for electric cars darker darker than even a few months ago.

How -- well as we reported General Motors will stop producing the taxpayer back Chevy Volt starting next week.

For at least a month why because nobody is buying this car.

But it's not just GM struggling to sell those plug in vehicles this year Toyota has sold more than ten times as many hybrids as electric cars.

Now despite tax credits in the thousands last year sales of these cars a man's just 110 of 1%.

Of all vehicle sales it's nothing.

Look at that number is that worth investing taxpayer dollars then.

I don't think so.

And look don't expected to get better Ellen C automotive predicts sales of electric vehicles will stay near that level.

For not one year not two years but five years.

One of the reasons of course -- cost their expensive.

Many gas powered cars are working to improve fuel standards in.

In get a car that gets forty miles on a gallon for 101000 dollars less than a bolt or even a Nissan leaf now.

There are more troubling signs of course for this cars.

Case in point number one -- her sister has a high profile electric sports car called the karma.

You may have heard about it the price -- of nearly a 108000.

Dollars.

But it's performance not so hot last week consumer reports which conducts its own car testing had this to say about the fix this -- I'm quoting.

We by eighty cars a year and this is the first time in memory -- that we have had a car that was on drivable and drivable.

Before it finish the check in process.

Imagine that.

The folks to see our had to bring in a flatbed -- track to hold -- this clear away.

You know what they say about karma well.

And then there's bright automotive a vehicle manufacturer was started as an alternative to the Detroit Big Three.

A way forward in Green cars well it just announced it's closing its doors.

But it's not just car companies feeling the pinch from these -- products the dark days are extending across the spectrum of the industry.

This there's problems with their overpriced underperforming electric cars are forcing the company to cap back on orders.

That has led to major losses 40123.

Systems which makes their batteries.

That company has lost nearly 258 million dollars and 2011 alone.

Ener1 another battery maker declare bankruptcy earlier this year.

What is it gonna take to get through to the president he predicted there would be a million electric cars on the road within three years.

Auto dealers -- sell the ones they have.

Look Mr.

President you tried no one wants his cars it's gonna get up and come up with a new pet project one Americans might actually like.

If you're looking for suggestions.

I hear they're looking to build a pipeline in this country.

That's what I think.

Load More