I think of them like flat TVs.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 am more worried they will SPARK and catch on fireI 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.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.
True, but they will suffer enhanced depreciation.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.
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.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/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.
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So far I haven’t encountered higher premiums, you just shop around, 12 months full comprehensive was $927.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
Good read. They aren't dead yet. I reckon they will get there.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
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.
Pandemic was a blessing for TSLA
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 anymoreHow 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
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