Posted on 11/08/2023 10:35:18 AM PST by SeekAndFind
Executives from the auto industry probably surprised many by announcing revisions to their EV plans.
BloombergNEF: global EV sales are this year set to hit a record high, topping 14 million.
MarketWatch: the U.S. has a broken EV charger problem.
During the latest profit season, executives from the auto industry probably surprised many by announcing revisions to their EV plans.
GM gave up its production targets. Tesla's Elon Musk warned about waning EV demand. Honda and GM canceled their joint venture that would have developed more affordable EVs.
Cars are piling up in dealers' lots. Thousands of chargers are not working, and there are not enough technicians to fix them. The EV dream might be over before it really began.
"As we get further into the transformation to EV, it's a bit bumpy," GM's chief executive, Mary Barra, said at the presentation of the auto major's third-quarter results.
Mercedes-Benz CFO Harald Wilhelm was blunter:
"This is a pretty brutal space," he said on the Q3 earnings call.
"I can hardly imagine the current status quo is fully sustainable for everybody."
The status quo Wilhelm referenced features rising EV sales, which might make some wonder why the executive is unhappy about it. BloomergNEF recently reported, for instance, that global EV sales are this year set to hit a record high, topping 14 million. China will account for most of these, but Europe, where Mercedes-Benz is based, has been steadily boosting its EV fleet, too, with sales this year set to log a 25% increase, per BloombergNEF.
(Excerpt) Read more at oilprice.com ...
No.
It’s to make all personal transportation unaffordable for the masses.
Can’t get the materials because of supply chains. And, cannot figure out how to sell them for a profit.
It turns my stomach to think of them replacing ICE cars. Does that count as a revolution?
-PJ
“GM gave up its production targets. Tesla’s Elon Musk warned about waning EV demand. “
GM up 50% YOY. Tesla up 35%.
“forcing an unwanted product onto unwilling consumers.”
No buyers have been forced.
Yes - but we’re in the Jacobin Phase of “the Revolution:” The part where a small group of ideologue tyrants force their absurd plans upon you.
There never was one.
RE: GM up 50% YOY. Tesla up 35%.
I DARE anyone to buy their stocks at these prices.
You're shorting them, right?
More like failing to design and build EVs that meet the use case and budget of potential buyers.
“More like failing to design and build EVs that meet the use case and budget of potential buyers.”
Then why are EV’s gaining market share?
Imagine if we sold everyone nuclear cars and told them to worry about where they could refuel the reactors later. LOL.
More or less correct. The powers-that-be do want to eliminate personal ownership of private vehicles, and steer people towards using mass transit. Unfortunately, mass transit doesn't work well for the masses.
Pushing people towards EV's is one step; along the way they'll reduce ownership of ICE vehicles and gas stations in their present form. Later on, they'll push people towards shared ridership in taxis in newer forms. During these phases, they'll eliminate spaces used by private vehicles and repurpose that land to more compact use. That means concentrating people in high-rise towers close to their work and necessary goods. Of course it won't work out well for the masses.
The future does not bode well for private ownership of vehicles, and the freedom that used to be taken for granted.
“Then why are EV’s gaining market share?”
Then why are EV’s piling up on dealers’ lots?
You're talking about EV's, right? GM made what, 26 EV's last year, so 50% growth is possible. Meanwhile, Tesla makes over a million last year. Actual figures for Tesla last year "... in 2022, Tesla produced 1,369,611 electric cars (up 47 percent year-over-year)". 47% growth for Tesla, not 35% - and on a million EV's.
“You’re talking about EV’s, right? GM made what, 26 EV’s last year, so 50% growth is possible.”
ROTFLMAO! GM sold over 300k last QUARTER!
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