California's recent repeal of its electric vehicle (EV) mandate has sent shockwaves through the automotive industry, with out-of-state buyers eyeing a lucrative opportunity to acquire California dealerships. The state's stringent EV requirements, which were set to increase to 22% of new car sales by 2025, had made it a desirable location for EV manufacturers to establish a strong presence. However, with the mandate now lifted, the incentive for these manufacturers to maintain a significant California footprint has diminished, sparking a buying frenzy among out-of-state investors. As a result, California dealerships are now more affordable and attractive to buyers from other states, potentially leading to a significant shift in the state's automotive landscape.
End of EV mandate tempts out-of-state buyers to acquire California dealerships wardsauto.com
