...several auto execs pulled back on EV targets.
Dealers have been warning of slowing EV demand for months.
"This is a pretty brutal space," Mercedes-Benz's CFO said this week.
With signs of growing inventory and slowing sales, auto industry executives admitted this week that their ambitious electric vehicle plans are in jeopardy, at least in the near term.
Among the surprising hand-wringing is GM's Mary Barra, historically one of the automotive industry's most bullish CEOs on the future of electric vehicles. GM has been an early-mover in the electric car market, selling the Chevrolet Bolt for seven years and making bold claims about a fully electric future for the company long before their competitors got on board.
Meanwhile, Mercedes-Benz, which is having to discount its EVs by several thousand dollars just to get them in customers' hands, isn't mincing words about the state of the EV market.
"This is a pretty brutal space," CFO Harald Wilhelm said on an analyst call. "I can hardly imagine the current status quo is fully sustainable for everybody."