The Electric-Vehicle Bubble Starts to Deflate

[pknopp]

Dumping inventory.
Everyone’s losing billions.

Many options now. As I said, this was noted long ago.

For some odd reason it pisses you off that EV's are getting more affordable.

 

[Weatherman2020]

Many options now. As I said, this was noted long ago.

For some odd reason it pisses you off that EV's are getting more affordable.

Homes in Detroit are affordable too, doesn’t mean people will ever buy them.

 

[pknopp]

Homes in Detroit are affordable too, doesn’t mean people will ever buy them.
View attachment 818860

People are buying EV's. Again I have no idea why some get so upset over the simple choices of others.

 

[Weatherman2020]

People are buying EV's. Again I have no idea why some get so upset over the simple choices of others.

Some people are buying homes in Detroit. What’s your point?
Fact remains inventory is rising and dealers are slashing prices to try to sucker buyers in. While the manufacturers loose billions in the EV lines.

 

[Libby von H]

"EVs"? Oh, you mean oversized, overweight electric vehicles? Sure, they are going almost nowhere. Light vehicles powered by electricity are doing quite well.

You can't say that with the grotesque pressures made to force the market.

People buiying the small EVs are just answering to 3 things
1) A nice bigger normal size is too damn expensive
2) Biden has killed the trade-in market, so hard to get rid of gas car or buy gas car without a huge financial penalty
3) THEY ARE STUCK NOW

• Tesla’s price cuts have eroded the residual value of used EVs

 

[WEATHER53]

Too heavy and will collapse overpasses

 

[jc456]

People are buying EV's. Again I have no idea why some get so upset over the simple choices of others.

show us?

Electric car sales, 2016-2023 – Charts – Data & Statistics - IEA

Electric car sales, 2016-2023 - Chart and data by the International Energy Agency.

www.iea.org

 

[Foxfyre]

It’s ironic, to say the least, that the U.S. is seeking to imitate China’s economic model at the moment that its industrial policy fractures. Look no further than its collapsing electric-vehicle bubble, which is a lesson in how industries built by government often also fail because of government.

Tesla last week slashed its prices in China to boost sales in an oversaturated EV market. In July Tesla and other auto makers in China agreed to stop their EV price war, only to scrap the cease-fire days later owing to government antitrust concerns. While lower prices may benefit consumers, auto makers in China are bleeding red ink and going bust.

A plethora of Chinese EV start-ups launched in the past decade, fueled by government support, including consumer incentives and direct financing. Auto makers churned out EVs to suck up subsidies. Giant property developer Evergrande Group launched an EV unit as its real-estate empire began to implode, but now the EV unit is foundering too.

About 400 Chinese electric-car makers have failed in the past several years as Beijing reduced industry subsidies while ramping up production mandates. Scrap-yards around China are littered with EVs whose technology has become outdated, redolent of its unoccupied housing developments created by government-driven investment. […]

Cox Automotive reported this month that EV inventory had swelled to 103 days of supply in the U.S., about double that of gas-powered cars. Auto makers and dealers are discounting EVs to sell their growing supply. The average EV price paid by consumers has fallen 20% compared with a year ago to $53,438, driven by Tesla’s price cuts and dealer incentives.

Ford recently reduced its EV production targets as its losses and unsold inventory grow. At the end of June, it had 116 days of unsold Mustang Mach-Es, and GM’s electric Hummer had more than 100 days of supply. And this is in a growing economy.

Traditional auto makers will have to raise prices on gas-powered cars to compensate for their EV losses. A United Auto Workers executive said Sunday that Stellantis is threatening to move production of its Ram 1500 trucks to Mexico from suburban Detroit, no doubt to reduce costs. The EV jobs President Biden touts will come at the cost of union jobs building gas-powered vehicles.

Meantime, EV start-ups are floundering as interest rates climb, and they struggle to scale up manufacturing. Lordstown Motors filed for bankruptcy in June. Nikola Corp. warned this year that it had “substantial doubts” about its ability to stay in business.

MSN

Socialists love controlling every facet. How many staples to make for staplers. How many potatoes to grow for the peasants. What kind of transportation the peasants must use.

Pretty much any time the government pays large subsidies to manufacturers to get them to manufacture something and/or pays subsidies to people to buy things they likely would not otherwise buy, you pretty much see a losing proposition just as soon as the subsidies end and also the free capitalist market is sidetracked and less efficient and effective.

The current administration is so clueless on how basic economics work, I am thinking nobody should be allowed to hold an office that has any power over expenditures or economic regulation until they've had at least six hours of basic economics. But even that would not stop those who don't CARE about cause and effect of the economy but only care about their own power and prospects.

 

[pknopp]

show us?

Electric car sales, 2016-2023 – Charts – Data & Statistics - IEA

Electric car sales, 2016-2023 - Chart and data by the International Energy Agency.

www.iea.org

You post a graph of the number of EV sales and you ask me to show where people are buying EV's?

LOL

 

[jc456]

You post a graph of the number of EV sales and you ask me to show where people are buying EV's?

LOL

Yep, look at US sales!! Hahaha

 

[Sparker]

Buying an EV is virtue signalling for people who want the green label but don't want to do anything actually green, such as commuting by bus or bike.

 

[Libby von H]

Many options now. As I said, this was noted long ago.

For some odd reason it pisses you off that EV's are getting more affordable.

They are NOT GETTING MORE AFFORDABLE

Biden is subsidizing the production
Biden is subsidizing the purchase
Biden is forcing any competition out of business.

And the many billions that costs you will pay

 

[there4eyeM]

Buying an EV is virtue signalling for people who want the green label but don't want to do anything actually green, such as commuting by bus or bike.

It remains mysterious that so little recognition of "ebikes" is expressed. They are highest selling "ev"s. Truly small, light enclosed vehicles would also be viable and popular, but the personal vehicle gluttony displayed in America, like the obese person in the airplane seat, wallows over into the way of any progress toward sanity.

 

[Weatherman2020]

Everyone who wants to virtue signal have now bought their EV. The market is now dead.