Coda Electric Sedan

Coda is shutting down its auto operations after selling fewer than 100 cars. The sedan was doomed by a high price, bland styling and the absence of a marketing plan.

For the past couple of years, the electric car market has been characterized by a degree of irrational exuberance. Much of that was killed in 2012. This past year dealt a tough lesson about overstated sales goals for Nissan—and bankruptcies for A123 Systems, Azure Dynamics, Ener1 and Think. Better Place’s Shai Agassi stepped down from the top position at his company, where elaborate battery-swapping schemes have not gained traction. The takeaway for EV companies and fans in 2013 should be to reset expectations—and to be brutally honest about real shortcomings. That’s where Coda Automotive comes in.

Coda Automotive, the California-based maker of an all-electric sedan primarily produced in China, last Friday laid off more than 50 employees, including a substantial part of its sales and marketing staff, according to a source familiar with the company’s business. The source, who contacted PluginCars.com about the news, wants to stay anonymous based on concerns about possible “blow back” from Coda executives.