No, electric vehicle sales aren’t dropping. Here’s what’s really going on
No, electric vehicle sales aren’t dropping. Here’s what’s really going on
Tesla’s slashing prices. Ford just cut the price of its Mustang Mach-E, too, plus it cut back production of its electric pickup. And General Motors is thinking about bringing back plug-in hybrids.
You’d be forgiven for thinking the American market for EVs is collapsing. But in the last quarter of 2023, EV sales were up 40% from the same quarter a year before, according to Cox Automotive. In fact, EV sales in the United States hit a record last year, topping 1 million for the first time.
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“Between $50,000 and $60,000 now we get Kia and we get Cadillac,” said Tyson Jominy, an industry analyst with J.D. Power, referring to the Kia EV9 and Cadillac Lyriq electric vehicles. “Those two don’t normally face each other.”
Besides being too expensive for the average buyer, selection is limited in terms of body style, said Corey Cantor, an industry analyst with Bloomberg New Energy Finance. The vast majority are relatively expensive SUVs, and there are few sedans or compact cars for customers who want something different.
Dealers are still a big problem for EVs on top of the points mentioned in the article. They complain about it being hard to sell EVs, but also mark up almost every model and push customers toward ICE cars. Dealers are incentivized to sell ICE cars that support them long term with overpriced service intervals and repairs. EVs don't require as much regular maintenance. States with strong dealer laws like Oklahoma have been fighting against EV adoption by banning direct sales, show rooms, and even service centers.
Just had a guy at a dealer be like "yeah, electric cars aren't for me" after I told him I was there specifically to see an electric. I ended up buying from a rental agency's sales branch. They weren't pushy (like a CarMax) and also had better prices.
I went to test out a Kona EV a few years ago and the dealer allegedly had one in stock according to the website but when I got there, the guy told me they don't sell them in my state. I thought that was odd, but he explained it that there was no way to charge them here. I acted dumb and asked why I couldn't charge at home. He just said it needed a special plug and my state didn't have those...Not public chargers (of which there were many), the dude tried to tell me my state did not have access to standard RV or Dryer plugs.
But yeah, there are some great used deals out there right now with Hertz dumping their fleet due to collision repair costs.
"yeah, electric cars aren't for me"
"Guess buying from you isn't for me"
It's weird people are seeing price slashes as negative. Musk's whole thing was about creating a 35k car and now that we're almost there people are laughing. I hate Musk as much as the next normal person but I still feel like Tesla is still the best bang for your buck, at least in the US.
My desire to own and drive a tesla crashed into a mountain. I call it Fascist Chatterbox Mountain. If they, along with spacex, agree to launch him into the sun, we might could talk. Until then, they’re a permanent no.
Now i’m thinking Kia. I’m also thinking used. Aaand also that I probably need to rob some banks or something because - $50,000? Even $35,000? Haha. No.
Check out the used Bolts on the market - decent range and you can get 2023 or 2022 with fairly low mileage
I'd never owned a KIA and recently bought a EV6 for $40,000US after getting solar at home. It's honestly the first KIA I've actually liked.
The new Volvo EX30 I was checking out earlier, MSRP is 35. I haven't seen one around yet but the numbers look good, so I figure I'll look to see what a used one costs in a couple years when I can replace my car. Figure if EVs keep coming down in price it would be nice. The Kia Nero Plug in Hybrid also is at that price. Volvo is 275 mile range, the hybrid Nero is 33. So really that would open most every drive I need to being full electric and having the ability to let it switch to gas for drives that are different. 33 miles off electric would cost me ~$1.74 after adding in 5% inefficiency on the charge. So that would. So that would save me about 40% compared to current gas prices if compared to a gas powered vehicle getting 33mpg.
Not so sure Kia is the best option from a human rights standpoint since child labor can be found throughout their supply chain:
https://www.reuters.com/investigates/special-report/usa-immigration-hyundai/
I'd say go with a used vehicle (<2022) which can qualify for up to $4k of tax credit. That can bring the price of a Bolt down to a decent price. Or if you still need some range, get a plug in hybrid which also qualifies. Plus you won't be adding the carbon emissions of a new vehicle.
I got an EV6, I like it.
GM had record sales figures, just before they filed for bankruptcy. The problem with the car industry is that if you're willing to sell at a loss, any level of sales can be achieved. But that is not a viable business. In reality, too many car companies are selling BEVs at a loss. This will have consequences soon.