User Panel
Posted: 7/10/2023 7:27:43 PM EDT
The auto industry is beginning to crank out more electric vehicles (EVs) to challenge Tesla, but there's one big problem: not enough buyers.
Why it matters: The growing mismatch between EV supply and demand is a sign that even though consumers are showing more interest in EVs, they're still wary about purchasing one because of price or charging concerns. It's a "Field of Dreams" moment for automakers making big bets on electrification they've built the cars, and now they're waiting for buyers to come, says Jonathan Gregory, senior manager of economic and industry insights at Cox Automotive. Driving the news: Cox Automotive experts highlighted the swelling EV inventories during a recent midyear industry review for journalists and industry stakeholders. EV sales, which account for about 6.5% of the U.S. auto market so far this year, are expected to surpass 1 million units for the first time in 2023, Cox forecasts. A Cox survey found that 51% of consumers are now considering either a new or used EV, up from 38% in 2021. Tesla's rapid expansion, plus new EVs from other brands, are fueling the interest 33 new models are arriving this year, and more than 50 new or updated models are coming in 2024, Cox estimates. Yes, but: Sales aren't keeping up with that increased output. Details: The nationwide supply of EVs in stock has swelled nearly 350% this year, to more than 92,000 units. That's a 92-day supply roughly three months' worth of EVs, and nearly twice the industry average. For comparison, dealers have a relatively low 54 days' worth of gasoline-powered vehicles in inventory as they rebound from pandemic-related supply chain interruptions. In normal times, there's usually a 70-day supply. Notably, Cox's inventory data doesn't include Tesla, which sells direct to consumers. EV THREAD BOIS |
|
Not to worry. Biden is working on reducing the supply of oil. No oil, no gas. What are going to buy? That has been the plan since Biden “won” the election.
|
|
A normal IC engine car or truck can be expected to go 150-200k miles with maintenance, and a solid chance at a lot more.
A significant improvement over ten years ago. Electric car battery longevity concerns are very real. |
|
|
The once-hot Ford Mustang Mach-E now has a 117-day supply. View Quote Just googled ford mustang mach e. These is what popped up in the google search. Seriously who would pay those prices for that? All the buyers for those already bought them apparently. Attached File |
|
Tesla has a mystique about it in the electric domain... obviously
They aren't so unaffordable that people can't make the stretch to own one... everything else is just a Chevy or whatever, or some ICE manufacturers side gig.. |
|
Quoted: Kinda like those Chinese cities View Quote "In this spirit, we offer the following Axios Bill of Rights, a list of promises to our readers, listeners and viewers. We urge you to hold us accountable for living up to our obligations to you. Every item will be written or produced by a real person with a real identity. There will be NO AI-written stories.* NO bots. NO fake accounts. " snip "*We are currently evaluating generative AI tools to explore how they might augment our journalism. We presently do not use any AI in content creation. We will update this manifesto if this changes." |
|
My house is 20 years old. There is no room on the panel for a dedicated charging circuit. Why they hell would I buy a burden.
|
|
It’s the appearance. You need to look like you’re driving an ev.
Just like in 2010 Prius was the top selling hybrid. People looked trendy in their own eyes. |
|
It's funny to me that they say the reason is consumers are "wary" instead of saying no one (the vast majority of consumers) wants to buy them. It's a bullshit product on the whole. No one wants to buy one.
Capitalism is speaking |
|
It will be interesting to see how it all turns out.
I understand EV resale value ain't that great. |
|
When I can fill up in 5 minutes and have 400 miles range while towing, I'll consider buying one.
|
|
|
Where are these EVs? There aren't any lower end ones anywhere around.
|
|
I don't think you can discount the inherent gay, homosexuality of Electric Vehicles.
|
|
Prepare for more coercion. They can't let people choose freely.
|
|
It's just that Tesla makes a better EV than anything else on the market currently. There is objectively, no reason to buy another brands EV.
|
|
Everyone that wanted an EV already bought one.
There’s no one left to buy any of the new EV’s up for sale. And for sure, no one with a brain wants to buy a used EV. The depreciation will be epic. LOL to the suckers that bought new EV’s and try to sell them later. |
|
Quoted: When I can fill up in 5 minutes and have 400 miles range while towing, I'll consider buying one. View Quote The battery itself limits charging speed. So if you buy an EV improved chargers won't be able to improve the charge speed very much. You will need a new battery. Assuming they come up with improved batteries that can charge faster. But battery tech has tradeoffs, of course, so a faster charging battery likely has other unfortunate tradeoffs. |
|
Normal people don't have the money to buy a car that costs as much as their house did 10 years ago.
That's why these overpriced already-outdated-literal-dumpster-fires on wheels aren't selling. Get the price point down under $30k and they will start moving them. |
|
Quoted: A normal IC engine car or truck can be expected to go 150-200k miles with maintenance, and a solid chance at a lot more. A significant improvement over ten years ago. Electric car battery longevity concerns are very real. View Quote Japanese cars have been able to do that a lot longer than 10 years ago. My 2010 Mazda 6 has 195K and still going with the only non maintenance repair being $150 for an exhaust leak. |
|
Quoted: A normal IC engine car or truck can be expected to go 150-200k miles with maintenance, and a solid chance at a lot more. A significant improvement over ten years ago. Electric car battery longevity concerns are very real. View Quote This. Battery replacement is very expensive and IC components last longer. EV’s are near worthless when they age down to the $5k price range because you can’t trust the battery in them to keep you on the road. And it’s not just the battery pack itself. I recently priced an AC fix on a Honda hybrid. Conventional (IC) compressors for the same model year are a couple hundred dollars. The hybrid version is over $2k. It’s going to be a situation where the EV’s are more expensive on the front end AND depreciate faster once the actuaries get enough data to work with. Although the expansion of EV’s will likely create an opportunity for aftermarket suppliers/rebuilders to provide service to those suffering from dealer/OEM replacement sticker shock, so replacement costs might eventually come down some. |
|
If they want to pump those numbers up, they’ll need to start selling to apartment dwellers and rural folks, as an example. Maybe soon, everyone who wants one, will have one.
|
|
|
|
|
What happens in 5 years when China halts all rare earth metals to the US?
Or during a war? How many miles can an EV go when it’s battery is lower than 75% efficiency? |
|
|
Quoted: The battery itself limits charging speed. So if you buy an EV improved chargers won't be able to improve the charge speed very much. You will need a new battery. Assuming they come up with improved batteries that can charge faster. But battery tech has tradeoffs, of course, so a faster charging battery likely has other unfortunate tradeoffs. View Quote View All Quotes View All Quotes Quoted: Quoted: When I can fill up in 5 minutes and have 400 miles range while towing, I'll consider buying one. The battery itself limits charging speed. So if you buy an EV improved chargers won't be able to improve the charge speed very much. You will need a new battery. Assuming they come up with improved batteries that can charge faster. But battery tech has tradeoffs, of course, so a faster charging battery likely has other unfortunate tradeoffs. I actually think that battery charging place will be a mini warehouse. Instead of charging they just do a quick change out of said battery. If they design it right, it could be literally plug and play. Actually I thought about this and it's a retarded idea. Nobody wants to get stuck with a shit battery on it;s last charge |
|
If Tesla comes out with a $25k Model 2.... I would buy one. I'd have it as a second car, mostly for local driving and shit.
|
|
Quoted: My house is 20 years old. There is no room on the panel for a dedicated charging circuit. Why they hell would I buy a burden. View Quote Unless you have 1920s 30A service or a 1950s 60A "range and main", you can add the necessary circuit. |
|
Sounds like Toyota might have a game changer in the works for their EVs. Battery range up to 700 miles and a quick charge of 10 minutes. Using solid state batteries.
|
|
|
Quoted: Japanese cars have been able to do that a lot longer than 10 years ago. My 2010 Mazda 6 has 195K and still going with the only non maintenance repair being $150 for an exhaust leak. View Quote So have American cars, all 3 of my ford trucks have over 200k on them with no major repairs other that maintenance done by me. My newest truck is a 2001. I can afford to pay cash for a new vehicle, but just don't need anything the new cars offer. |
|
I’m interested in getting a Tesla , but of course will keep my ICE vehicles as well . I just don’t know about adding a charger to my existing 160 amp service . Don’t think it will be a major concern since I don’t use much electricity . I think an ev makes since for me for doing my normal driving . Plus , I love quick cars . Everybody I have spoken with love their Teslas , rode in one and was impressed with the acceleration .
|
|
I won't even by an electric golf cart for around the house. I hope the
execs" that drank the koolaid choke on it. |
|
Quoted: I actually think that battery charging place will be a mini warehouse. Instead of charging they just do a quick change out of said battery. If they design it right, it could be literally plug and play. Actually I thought about this and it's a retarded idea. Nobody wants to get stuck with a shit battery on it;s last charge View Quote Well, another problem is how the batteries are installed. Pretty much built into the frame in some cars. Also, all modules have to be matched, so you would need a full matching set. |
|
Only legacy auto EV sales are slowing. Tesla is doing better then ever.
|
|
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.