indeed ... pretty much the standard for all EVs ... they're called skateboard chassis ... and generally, even a fender-bender totals those things ...
Posted on 01/04/2024 11:01:51 AM PST by Red Badger
“The electric things have their life too. Paltry as those lives are.” – Do Androids Dream of Electric Sheep?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Just as President Joe Biden starts showering hundreds of billions more of taxpayers’ money to “electrify” the nation’s fleet of automobiles, the bottom is falling out of the EV market.
The latest indication is the sharp drop in prices for used EVs.
A report from iSeeCars.com, a search engine for auto buyers, found that the average price for all cars declined 5% in 2023 compared with 2022.
But the resale price EVs plunged 33%.
While a used EV sold for an average of $52,821 in 2022, it went for less than $35,000 in 2023, which means they can be had for just slightly more than the average price for all cars.
Even with this dramatic decline in prices, it took 40% longer to sell an EV in 2023 than it did the year before. Used gas-powered cars, in contrast, sold 10% faster than they did in 2022.
“This combination of lower prices and slower sales suggests EVs have hit a market demand threshold that will be difficult to break through,” said Karl Brauer, iSeeCars executive analyst.
Why is the used EV market in trouble? Bloomberg speculates that “Buyers are shunning them due to a lack of subsidies, a desire to wait for better technology, and continued shortfalls in charging infrastructures.”
But it’s not just the used EV market that is cratering. iSeeCars found the same trends with new EV sales. The time it took to get an EV off a dealer’s lot more than doubled in 2023. It now takes roughly three times as long to see an EV than a conventional car, despite price cuts and Biden’s huge EV tax credit.
Nearly half of EV owners buy a gas-powered one for their next vehicle, according to a study from S&P Global, titled “Does the auto industry have an EV loyalty problem?”
The collapse in used EV prices is hurting the sale of new ones. Why plunk down big money for a car that will lose value faster and be harder to sell down the road?
Rental car companies are deciding not to. Hertz scaled back its plans to add more EVs to its rental fleet, citing high repair costs and declining resale value. German-based rental car company Sixt said it’s phasing out Tesla rentals from its fleets because of reduced resale value.
And that’s on top of the fact that EVs are more prone to need (more expensive) repairs, lose significant range in bad weather, and are a pain to recharge. The NBC affiliate in Philadelphia recently filed this story:
On a cold fall day, several electric vehicle drivers were waiting for a turn to plug into one of the public chargers at a strip mall parking lot in South Philly.
‘It’s like, man, you got to be here 40 minutes, 50 minutes, and then you got to spend another hour here to charge,’ said Kevin Taylor, an Uber driver who two months into using an electric vehicle was already considering switching back to gas.
So, let’s sum up: New EVs aren’t selling, despite massive government subsidies. Used EVs aren’t selling. People who own EVs often give up on them and switch back to gas-powered cars.
You’d think the Biden administration would respect the wants and needs of the car-buying public. Instead, it’s kowtowing to radical eco-leftists and is spending billions upon billions to build charging stations, massively subsidize the EV manufacturing business, and hand out lucrative tax credits to EV buyers.
Do leftists dream of electric cars? Yes. But for everyone else, the EV mania is turning into a costly nightmare.
— Written by the I&I Editorial Board
article looks like it was written by an AI program that extracted random bits and pieces from other articles that were published earlier, and then with very little, if any, editing ...
example:
“It now takes roughly three times as long to SEE an EV than a conventional car”
So, it could be President of the US or Harvard?.................
indeed ... pretty much the standard for all EVs ... they're called skateboard chassis ... and generally, even a fender-bender totals those things ...
I still expect someone to come up with an insurance-like system to mitigate the battery issue. Some EVs will be worn out, crashed, or just driven in such a way that their batteries will last longer, not unlike human mortality which is mitigated by life insurance. As many eggs have been put in this basket by so many people with power and influence, it’s naive to think it’s going to be a “well s*it, I guess we didn’t think of that” problem that kills the EV industry.
**I remember all those diesel GM junkers back in the 80’s. When the engine crapped out, people simply replaced them with normal engines.**
Yep, those were horrible engines. Back around 94, my dad bought a used 84 or 85 Olds Ninety-Eight diesel sedan, after it had been converted to a 350 gas. But that used engine should have been gone through before installing; it burned oil pretty good.
Dad found an Olds 455 irrigation pump engine (lp gas). Found an intake manifold and holly carb. When the local auto mechanic got done with it, he told Dad, “you need to use premium, and hang on, cuz that thing is a rocket now!”
It was a blast on the rural highways, pulling away from so-called domestic sport coupes of the 90s.
That’s not a very thorough car search site. I don’t see Packard as a search selection.
A one off?
I didn’t say it was impossible, just extremely difficult............
what’s the difference between essays written by Joe Biden or Claudine Gay and AI?
It’s very difficult to tell the difference: all are written without attribution and none make much sense ...
Just heard a radio ad that declared that an estimated 60% of the cars sold by 2030 would be electric! It was a real ad, not a comic’s joke.
For example, it isn’t just adding a gas tank. You have to add a way to fill it, monitor the level, run gas lines.
You also have to add a complete exhaust system including catalytic converter from the engine to the rear of the car.
Switching out ICE engines is a lot easier because all of these components, and more importantly space for them, are already built into the car.
Trying to find collision insurance would be difficult. I doubt you would be eligible for, much less pass emission tests. The car would probably be only able to be operated off road.
That’s 7 years away.
It ain’t gonna happen.
Unless they mean 60% of very few cars being sold.....................
They didn’t discuss passing emission tests. I am not sure the EPA would allow you to drive it on the road.
How much did the conversion cost?......too much to do on a large scale more than likely......which was your point, was it not?
It ain’t prime time for battery cars......and more than likely never will be
I agree. I didn’t watch the entire video. And I doubt they said how much $$$$ they spent in retrofitting this.
Probably close to $100K
Rednecks will do anything that involves cars, engines and alcohol..............
Democrat’s agenda is to have ALL cars manufactured in and after 2030 be EV.
All.
It’s those pesky Laws of Thermodynamics. Gotta get rid of them......................
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