He stated the dealerships are marking up the price of ICE vehicles to offset what they are loosing in lack of EV sales.
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Eventually the glut will get so big that shaddy dealing like that wont work anymore. Just because you got a larger margin on the units that are moving doesn’t mean that you don’t still have an enormous inventory that isn’t moving. Eventually you’re going to have to sell those damned things. That requires a price reduction, and the way many businesses do their accounting, if you took the cost in the previous fiscal year, then any sale of that old inventory shows as a profit.
The problem is, no one wants EVs. So a small price war isn’t going to move a lot of inventory. Prices will have to come down a lot.
“Prices will have to come down a lot.”
I’ve done enough research to have come to the conclusion I wouldn’t own one if it was given to me....and I meant that in all sincerity.
When it comes to EVs, it ain’t soup yet.....and very possibly never will be.