Posted on 11/06/2023 3:18:43 PM PST by george76
the $7,500 federal rebate on them is driving sales at the moment.
EV folks complaining about government interference in the market - can’t make this sh*t up.
Business model…
We’ll lose a little bit on each car, but make it up in volume.
🙄😂
PT Barnum couldn’t have done better.
The public is waking up to this disaster.
Manufacturers have been dropping prices on a regular basis, forced to by Tesla which has a massive head start and scale of production. The $7500 rebate helps. Tesla is also trying to keep its market share thus it is fighting newcomers with pricing. Tesla also has the charging network in place; though this can be utilized by others using an adapter (meanwhile many other EV manufacturers have adopted the Tesla charger as standard starting next year).
There are some who think the EV market is near saturation, too. Hertz rental company also has a problem - the constant dropping of prices is forcing them to write down the value of their fleet and because there is no serious 3rd party player Tesla controls all the repair and replacement parts. It’s very expensive to run a fleet of them.
“a record leap of 0.7 percent over second-quarter numbers.”
Epoch Times is usually better than this. Calling a less than 1% increase a “record LEAP”. Despite the massive push and $7500 tax payer dollars on each sale they could not even increase sales 1% of the market. Now that more of the problems are becoming known the sales are tanking
To rent? No way would I rent an EV.
There appears to be some sort of rewards given by the EV manufacturers to some of the old car pubs. They all seem to be pushing the duds. Motor Trend picked one as car of the year, Jalopnic did a laughable counter of a tech article that shows just how much more of an EV costs “per mile” than a conventional IC machine. The bottom line, though, is that without support from the government, EVs would be as dead as their batteries. I’m a EE, and would love an electric car. An electric car that doesn’t consume rare earth resources, charges within 15 or 20 minutes via charging stations are as common as filling stations, one that has a national power grid capable of handling the load and...oh yeah...reliable and inexpensive power generating capabilities.
The case of Tesla is a lot like Amazon. They lose or lost money for many years but the capital markets float them the cash. Ford can't go out and raise $50 billion from investment funds. They can (or could). So these companies can lose money knowing they have capital reserves and ways to tap more.
Tesla has been able to make some profits by selling carbon credits - whatever scam that may be. Longer term, Tesla may be able to generate recurring revenue from their charging stations (say, $20 per charge I think is roughly the going rate here in CA) and various accessories. They bought SolarCity (which iirc was founded by himself and his brother) and sell the entire package from rooftop panels to in-home battery packs to power a home. They also have incredible technology inside the cars some of which is only minimally operational due to regulations. But that tech may be licensed to other manufacturers in time.
They may also make a mint on repairs; and heaven help those who will eventually need to replace their batteries. May be more value to the owner to just buy a new car than swap all the batteries.
> Ford Motor Company’s third-quarter earnings revealed rising losses with EVs, posting an operating loss of $1.3 billion… <
At some point, Ford’s stupid decisions will cause its stock price to crash. As of today, it’s $10.31 per share. I’m watching Ford, and I believe I’ll be a buyer if it drops to $5 per share.
Comments, anyone?
“Green Energy” is a social-engineering and political crony skimming scheme
It has only survived to this point by a previous 15 years of zero interest rates, rapidly growing government debt for propaganda and subsidies, cheap oil, globalization and world peace
All those things have started to reverse. The “green energy” scam won’t survive much longer
Wait for it to go to $0.50, and then the government bailout
Depends on what you are calculating. 0.7% of the entire automotive market (which would include all cars on the road of any type and age) is a big number. If it’s just 0.7% of new car sales then yeah, it’s a small increase.
Nevermind, I see it is 0.7% of new car sales. It may be a “record” for EV sales but yeah, I wouldn’t call that a “leap”.
> Wait for it [Ford] to go to $0.50, and then the government bailout <
Ha, yes. I’m factoring in a government bailout as part of my grand strategy.
Disclaimer: All of my previous grand strategies have failed. That’s why I’m sitting in my lower middle-class home, clipping grocery coupons. But, hey. You never know what tomorrow might bring!
Ford was around $1 a share right around the time of the housing bubble burst. If I remember it correctly.
“Record sales” — these are NOT HONEST sales. When you get free money from Uncle Sugar, there should be a HUGE asterisk next to the “sales record.” Just like there should be asterisks next to Barry Bonds and Mark McGwire.
It’s like comparing Hank Aaron to Barry Bonds without an asterisk.
It’s like “Lia” Thomas setting “women’s records” in swimming.
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