All we can extrapolate is VW electric cars aren't selling well.
If Tesla and Hyundai come out with with similar announcements then it's a market trend.
No extrapolation needed, that is pretty much what they are saying, and laying off about 300 staff on the EV production side.
I think VW have rapidly churned out a whole range of electric cars to match the sort of range of cars they had with petrol and diesel engines. With little thought to what the buyers of EVs wanted, they just made in effect a whole new car company of electric cars then pitched it against there own equally spec'd ICE cars. Two expensive production lines for the same group of customers.
Maybe in this instance Fiat have done the right think in bringing the 500e to market and then letting it settle before seeing what happens next.
VW may have gotten carried away with a whole range that most people don't want. A prime example is the newly announced ID7 which is an electric Passat. Great except Passat sales are not exactly high and you're going head to head with Tesla in the Model3/S area, where both those cars are pitched towards luxury, where as most people do not see a VW as a luxury car so when poised with a choice between a Model 3 and a VW of somesort the perception will be the Tesla is more luxury for the money.
I don't believe tesla are going to be stopping production but they have announced some pretty big price cuts in recent months as demand has tapered off.
Like all new technologies, people who want it and are early adopters have dashed out and bought the cars, while more cautious folk have sat back and watched what happens.
I know when I tested an iD3 in 2021, they where asking something stupid like £45k for a mid range model Which at that time was Porsche Boxster money.
I get that those wanting an Eco electric car probably were not going down to the local Porsche dealer, but stepping back and looking at the whole market, you'd have to be insane to pay £45k for what amounted to a mid range golf at the time the golf would have been maybe £25-30k.
They are currently saying on average an electric car costs £10k more than a petrol alternative, but I think that's only because the cost of the petrol cars has been pushed up massively in the last 3 years.
Tesla is doing what VW in Italy did, selling at a loss to corner a market…in teslas case it has created as many problems as it has positives. Yes it’s created sales, to the detriment of other EV sales, but it’s also devalued the market, plus it’s alienated existing Tesla owners…oh dear, how sad, never mind
Tesla have had to cut prices to keep competitive, there honeymoon period where they had no serious competition is long gone. That said they are not selling at a loss, they still returned a reasonable profit in Q1 of this year, with a boost to sales, but the profits per car are down as they have had to trim prices. As a share holder, there share prices has been creeping back up since the beginning of the year, after a terrible end to 2022, and they are proposing the Tesla truck will be released to the public by the end of 2023..... maybe.