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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
Link Posted: 7/10/2023 7:30:53 PM EDT
[#1]
I hope they choke on them.
Link Posted: 7/10/2023 7:33:57 PM EDT
[#2]
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.
Link Posted: 7/10/2023 7:34:06 PM EDT
[#3]
Kinda like those Chinese cities
Link Posted: 7/10/2023 7:35:21 PM EDT
[#4]
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.
Link Posted: 7/10/2023 7:35:21 PM EDT
[#5]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
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.
View Quote

Yes and because China owns the majority of all battery making components...they have a monopoly in the bag.
Link Posted: 7/10/2023 7:36:07 PM EDT
[#6]
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.

Attachment Attached File
Link Posted: 7/10/2023 7:36:25 PM EDT
[#7]
Its the price. A Tesla model Y is $50k. No thanks.
Link Posted: 7/10/2023 7:37:30 PM EDT
[#8]
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..
Link Posted: 7/10/2023 7:38:29 PM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Kinda like those Chinese cities
View Quote
I wondered if it is chinese and I still don't know but I clicked on the about link and found this...which honestly made my laugh out loud.  It's pretty unrelated to OP's topic but...so much for the promise.

"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."




Link Posted: 7/10/2023 7:38:32 PM EDT
[#10]
Douche mobiles
Link Posted: 7/10/2023 7:39:12 PM EDT
[#11]
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.
Link Posted: 7/10/2023 7:40:11 PM EDT
[#12]
FPNI
Link Posted: 7/10/2023 7:40:15 PM EDT
[#13]
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.
Link Posted: 7/10/2023 7:40:56 PM EDT
[#14]
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
Link Posted: 7/10/2023 7:41:26 PM EDT
[#15]
It will be interesting to see how it all turns out.

I understand EV resale value ain't that great.
Link Posted: 7/10/2023 7:41:55 PM EDT
[#16]
How long will they last?
Link Posted: 7/10/2023 7:42:58 PM EDT
[#17]
When I can  fill up in 5 minutes and have 400 miles range while towing, I'll consider buying one.
Link Posted: 7/10/2023 7:43:10 PM EDT
[#18]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Its the price. A Tesla model Y is $50k. No thanks.
View Quote


Price, range, charger availability, charge time.

Also the fact that EVs are different than ICE in key ways that can surprise people who are not aware.
Link Posted: 7/10/2023 7:46:28 PM EDT
[#19]
Where are these EVs? There aren't any lower end ones anywhere around.
Link Posted: 7/10/2023 7:46:59 PM EDT
[#20]
I don't think you can discount the inherent gay, homosexuality of Electric Vehicles.
Link Posted: 7/10/2023 7:47:11 PM EDT
[#21]
Good, fuck EV's...
Link Posted: 7/10/2023 7:49:47 PM EDT
[#22]
Prepare for more coercion. They can't let people choose freely.
Link Posted: 7/10/2023 7:51:23 PM EDT
[#23]
The free market has spoken…
Also
EV THREAD!!!!
Link Posted: 7/10/2023 7:52:02 PM EDT
[#24]
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.
Link Posted: 7/10/2023 7:52:14 PM EDT
[#25]
Nope.
Link Posted: 7/10/2023 7:55:30 PM EDT
[#26]
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.
Link Posted: 7/10/2023 7:55:51 PM EDT
[#27]
Discussion ForumsJump to Quoted PostQuote History
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.
Link Posted: 7/10/2023 7:56:07 PM EDT
[#28]
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.
Link Posted: 7/10/2023 7:56:43 PM EDT
[#29]
Discussion ForumsJump to Quoted PostQuote History
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.
Link Posted: 7/10/2023 7:57:19 PM EDT
[#30]
Discussion ForumsJump to Quoted PostQuote History
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.
Link Posted: 7/10/2023 7:58:42 PM EDT
[#31]
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.
Link Posted: 7/10/2023 7:59:37 PM EDT
[#32]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
It will be interesting to see how it all turns out.

I understand EV resale value ain't that great.
View Quote



Why would it when it costs more to replace the batteries than the POS is worth?
Link Posted: 7/10/2023 8:01:40 PM EDT
[#33]
Don't worry we'll just bail the auto industry out again.

Link Posted: 7/10/2023 8:02:58 PM EDT
[#34]
Yeah sure..

New inventory is still nonexistent around here.
Link Posted: 7/10/2023 8:03:31 PM EDT
[#35]
Link Posted: 7/10/2023 8:03:46 PM EDT
[#36]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
When I can  fill up in 5 minutes and have 400 miles range while towing, I'll consider buying one.
View Quote


I’m picturing one of those “last chance for gas for XX miles” places out west with 2 charging stations and 60 EV’s lined up waiting.
Link Posted: 7/10/2023 8:04:11 PM EDT
[#37]
Discussion ForumsJump to Quoted PostQuote History
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


Hell, my 88 Jeep Cherokee was trouble free at well over 200k, and I ran it until 460k.
Link Posted: 7/10/2023 8:05:15 PM EDT
[#38]
We could sell them to Ukraine as thermal weapons!
Link Posted: 7/10/2023 8:10:24 PM EDT
[#39]
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?



Link Posted: 7/10/2023 8:13:09 PM EDT
[#40]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Hell, my 88 Jeep Cherokee was trouble free at well over 200k, and I ran it until 460k.
View Quote


The fact that you didn't get more than 500k from a 4.0L Cherokee is weak and you should feel bad.
Link Posted: 7/10/2023 8:14:18 PM EDT
[#41]
Discussion ForumsJump to Quoted PostQuote History
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
Discussion ForumsJump to Quoted PostQuote History
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
Link Posted: 7/10/2023 8:16:04 PM EDT
[#42]
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.

Link Posted: 7/10/2023 8:16:22 PM EDT
[#43]
Discussion ForumsJump to Quoted PostQuote History
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
Installing a sub-panel and moving a few breakers over isn't a big deal, just a couple of hours.  You could probably just use some minature breakers to free up slots too.

Unless you have 1920s 30A service or a 1950s 60A "range and main", you can add the necessary circuit.
Link Posted: 7/10/2023 8:17:29 PM EDT
[#44]
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.
Link Posted: 7/10/2023 8:17:43 PM EDT
[#45]
Link Posted: 7/10/2023 8:18:34 PM EDT
[#46]
Discussion ForumsJump to Quoted PostQuote History
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.
Link Posted: 7/10/2023 8:19:55 PM EDT
[#47]
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 .
Link Posted: 7/10/2023 8:20:29 PM EDT
[#48]
I won't even by an electric golf cart for around the house. I hope the
execs" that drank the koolaid choke on it.
Link Posted: 7/10/2023 8:20:55 PM EDT
[#49]
Discussion ForumsJump to Quoted PostQuote History
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.
Link Posted: 7/10/2023 8:21:18 PM EDT
[#50]
Only legacy auto EV sales are slowing. Tesla is doing better then ever.
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