Electric cars?

[Knobby22]

MG have dropped the price of its EV range, one model by up to $9,000.
Note MG also make ICE versions, which do not appear to have had the same price drops.
In an era of high inflation, price drops are most unusual, except in the case of EV's.
Have we reached peak EV saturation?
Is there too much stocl?
Have all the EV buyers done their buying, and the rest of the population need more convincing?
From The Driven

I think of them like flat TVs.
At the start they were $10k, then $5K then 2K. Soon no one bought CRTs.
We are still at early adopter stage.
I want EVs to be at least the same price as ICE before I will buy. I am still in hybrid territory.

 

[JohnDe]

there has been a lot of mentions about the lack of battery recycling, including fear that there will never be proper battery recycling. I believe that recycling of EV components will be better and more efficient that ICE, it is just going to take a bit of time to ramp up.

ASX:LIT - Exclusive battery recycling agreement with Hyundai Glovis

Read and interact with this announcement: Exclusive battery recycling agreement with Hyundai Glovis on Lithium Australia's investor hub

investorhub.lithium-au.com

 

[Prepper Pete]

I think of them like flat TVs.
At the start they were $10k, then $5K then 2K. Soon no one bought CRTs.
We are still at early adopter stage.
I want EVs to be at least the same price as ICE before I will buy. I am still in hybrid territory.

I am more worried they will SPARK and catch on fire

 

[Value Collector]

I think of them like flat TVs.
At the start they were $10k, then $5K then 2K. Soon no one bought CRTs.
We are still at early adopter stage.
I want EVs to be at least the same price as ICE before I will buy. I am still in hybrid territory.

Ev’s don’t have to be the exact same price, as Petrol before they make sense, because of the lower fuel and maintenance costs.

 

[Knobby22]

Ev’s don’t have to be the exact same price, as Petrol before they make sense, because of the lower fuel and maintenance costs.

True, but they will suffer enhanced depreciation.

 

[Value Collector]

True, but they will suffer enhanced depreciation.

Not necessarily, they may actually end up having much longer lives with much less maintenance than petrol cars, and end up holding their value better in comparison.

https://www.carparisonleasing.co.uk...tion engine cars?,its value after three years.

 

[basilio]

Not necessarily, they may actually end up having much longer lives with much less maintenance than petrol cars, and end up holding their value better in comparison.

https://www.carparisonleasing.co.uk/blog/the-truth-about-electric-car-depreciation-and-how-leasing-helps#:~:text=have lower values.-,Do electric cars depreciate faster than combustion engine cars?,its value after three years.

View attachment 173424

On paper EV cars should be wildly cheaper to run in terms of maintenance than ICE cars. So much less to go wrong and relatively far simpler.

The fly in the ointment at the moment seems to be insurance. It also appears that repairing EVS is considered far more expensive leading to quicker write offs and thus higher premiums.

There is another cost that could be keeping EV ownership low

The cost of insuring electric vehicles will eventually drop as demand rises, but in the meantime the fledgling supply chain and relatively new tech attracts premiums almost double that of a regular car.

www.abc.net.au

 

[basilio]

This story on how US car companies are struggling to survive against EV is well worth reading.

Big Auto is begging governments to let them go bankrupt as Chinese EVs loom​

Jameson Dow | Mar 23 2024 - 9:57 am PT

388 Comments
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Automakers are fiercely lobbying governments to water down already-compromised emissions rules, but doing so will only lead to their doom as market entrants that are serious about EVs will continue ramping them anyway.

The auto industry is electrifying, and all new cars will be electric in the relatively near future. This is not in dispute by any serious person – and any alternative scenario, where humans continue to pollute as much as we do today, will result in worse and worse results for humanity the longer we pollute as climate change becomes progressively worse.

It is necessary that we stop burning fossil fuels, and fast. This is not a matter of opinion, it’s a matter of physics, and physics does not care about your arguments to the contrary.

And yet, the auto industry – which is responsible for more pollution than any other sector, at least in rich countries – still lobbies to worsen emissions reduction targets, even when those targets were already pushed back to begin with.

Big Auto is begging governments to let them go bankrupt as Chinese EVs loom

By asking governments to soften emissions goals, automakers will cede their entire business to entrants who actually take EVs seriously.

electrek.co

 

[Value Collector]

On paper EV cars should be wildly cheaper to run in terms of maintenance than ICE cars. So much less to go wrong and relatively far simpler.

The fly in the ointment at the moment seems to be insurance. It also appears that repairing EVS is considered far more expensive leading to quicker write offs and thus higher premiums.

There is another cost that could be keeping EV ownership low

The cost of insuring electric vehicles will eventually drop as demand rises, but in the meantime the fledgling supply chain and relatively new tech attracts premiums almost double that of a regular car.

www.abc.net.au

So far I haven’t encountered higher premiums, you just shop around, 12 months full comprehensive was $927.

but I am over 5 years and 50,000 kms into Tesla ownership so far, and the only maintenance I have done is replace the 12 Volt battery, which would have to be done on and ICE anyway.

not to mention negligible fuel Expenses.

So far so good, will keep you guys posted.

 

[basilio]

Drilling deeper into US car company problems with EV. How GM is totally stuffing up its move to EV.

How GM's Ultium Electric Car Revolution Went Off The Rails​

General Motors once hoped to unseat Tesla as America’s EV leader. Sources tell us what went wrong with batteries, software and more.​

It wasn’t supposed to be like this.

By early 2024, General Motors was to have had half a dozen electric vehicles selling in volume, all using the next-generation Ultium architecture it unveiled at “EV Day” in March 2020. That list includes the Chevrolet Silverado EV, Blazer EV, and Equinox EV; the Cadillac Lyriq; and the GMC Hummer EV in two versions. This expansive rollout of new EVs was to put GM on a course to, as The New York Times put it in 2022, “challenge Tesla for the lead in EV sales before the end of the decade.”

Yet, by last December, they were all selling at minimal rates or outright unavailable. One model has been under a stop-sale order for months. Others are severely behind schedule. While many traditional and startup automakers are struggling with the EV transition, GM’s electric future seems especially stalled right now.

How GM's Ultium Electric Car Revolution Went Off The Rails

General Motors once hoped to unseat Tesla as America’s EV leader. It’s time to understand exactly what went wrong.

insideevs.com

 

[Knobby22]

Drilling deeper into US car company problems with EV. How GM is totally stuffing up its move to EV.

How GM's Ultium Electric Car Revolution Went Off The Rails​

General Motors once hoped to unseat Tesla as America’s EV leader. Sources tell us what went wrong with batteries, software and more.​

It wasn’t supposed to be like this.

By early 2024, General Motors was to have had half a dozen electric vehicles selling in volume, all using the next-generation Ultium architecture it unveiled at “EV Day” in March 2020. That list includes the Chevrolet Silverado EV, Blazer EV, and Equinox EV; the Cadillac Lyriq; and the GMC Hummer EV in two versions. This expansive rollout of new EVs was to put GM on a course to, as The New York Times put it in 2022, “challenge Tesla for the lead in EV sales before the end of the decade.”

Yet, by last December, they were all selling at minimal rates or outright unavailable. One model has been under a stop-sale order for months. Others are severely behind schedule. While many traditional and startup automakers are struggling with the EV transition, GM’s electric future seems especially stalled right now.

How GM's Ultium Electric Car Revolution Went Off The Rails

General Motors once hoped to unseat Tesla as America’s EV leader. It’s time to understand exactly what went wrong.

insideevs.com

Good read. They aren't dead yet. I reckon they will get there.

 

[divs4ever]

Tesla is not a Magnificent 7​

Tesla is not a Magnificent 7

It appears investors have finally woken up to the reality of electric vehicle (EV) manufacturers.

www.livewiremarkets.com

now sure some of the change is because Elon is no longer seen as a Woke/Green champion but ....

 

[JohnDe]

Volvo makes its last diesel car and puts it in a museum

Volvo makes its last diesel car and puts it in a museum

Swedish automaker Volvo has rolled out its last diesel engine vehicle, after a 45-year relationship with the powertrain.

electrek.co

 

[sptrawler]

Interesting article from the U.S.

Car makers losing $6000 on every electric car they sell – report

US report finds that added costs of making electric vehicles are making it hard for manufacturers to turn a profit.

www.drive.com.au

 

[qldfrog]

Oh and I had promised to shut up on that thread..so apologies
And I deleted it

 

[JohnDe]

Interesting article from the U.S.

Car makers losing $6000 on every electric car they sell – report

US report finds that added costs of making electric vehicles are making it hard for manufacturers to turn a profit.

www.drive.com.au

They tried to compete with Tesla on price, thought they could bankrupt Tesla. They failed. Tesla is the only profitable EV manufacturer.

 

[Chipp]

They tried to compete with Tesla on price, thought they could bankrupt Tesla. They failed. Tesla is the only profitable EV manufacturer.

Pandemic was a blessing for TSLA but the competition coming hard and fast now . Took a long time for TSLA to turn a profit and the margins are falling away now . Toyota will be the largest marketcap car manufacturer again in the not too distant future .

 

[JohnDe]

Pandemic was a blessing for TSLA

How so?

 

[Chipp]

How so?

Slowed down competition releasing models allowing TESLA to maintain those high margins longer . That honeymoon is over now which is why forecast earn been sliding for a while although that should level out soon . TSLA not #1 producer anymore

 

[JohnDe]

Slowed down competition releasing models allowing TESLA to maintain those high margins longer . That honeymoon is over now which is why forecast earn been sliding for a while although that should level out soon . TSLA not #1 producer anymore

Yes but why did the competition slow down and Tesla didn’t?

And if the competition is losing $6000 per EV while Tesla is making a profit, what does that mean for the future of the competition?