Like many of you, I've been struggling of late to wrap my head around this nation's EV market and where it's heading. The latest registration data from Experian hasn't made it any easier to ascertain.
But if I had to guess, I think what we are seeing is an unnatural market, instead of just an immature one.
The Experian data in a nutshell:
Registrations of new electric vehicles — a proxy for sales — are up. Demand is up. The inventory of EVs is up, and now is over 100 days' supply, according to Cox Automotive. Prices are up, except where they're down. Tesla's $18,000 slice off the Model Y starting price fueled a huge sales bump, while Ford cut the sticker price of its Mustang Mach-E by up to 7 percent in May and the F-150 Lightning by as much as $10,000 last week.EVs as a percentage of light-vehicle registrations are up, now representing 7 percent of the market, compared with 4.6 percent just a year ago. New EV registrations rose…