Automakers Face Over $70 Billion in EV Writedowns and a Looming Model Drought

Automakers have booked more than $70 billion in writedowns after canceling electric vehicle models due to weaker-than-expected demand. The financial impact is now taking effect alongside a drastically depleted product pipeline.
Only about 6% of U.S. vehicle volume is slated for a redesign in 2028, representing less than half of the 2007 to 2026 average and marking the lowest level in over two decades.
Stale lineups are alienating buyers as Detroit remains heavily focused on trucks and slow to adopt hybrids. Consequently, $GM and $F are losing market share to competitors like Toyota, Honda, and Hyundai.