Still want an EV?

[Car-Addicted]

Study Suggests Automakers Lose $6,000 On Each EV Sold
March 21st, 2024
A new study is claiming that automakers lose an average of $6,000 for every $50,000 electric vehicle they sell. Boston Consulting Group, an American-based global management consulting firm that issued the report, said the figure accounts for customer tax credits — painting a rather bleak picture for the future of EVs.
Profitability is the other big issue, with Loh suggesting that something will need to change if the industry cannot figure out how to make the next generation of all-electric vehicles consistently profitable.
EV intenders want 20-minute charging times, a 350-mile driving range and a price of $50,000, according to the group's report on the survey.
Boston Consulting Group seems rather skeptical about the viability of all-electric vehicles, even if the industry continues being supported by tax dollars issued on behalf of the government via subsidies.
Survey results suggested that EV fanatics were more interested in hybrids (especially PHEVs) than combustion vehicles and they likewise saw broader public appreciation than automobiles wholly reliant on electric motors.
https://www.thetruthaboutcars.com/ca...-sold-44505820

Modern socialist math, lose $6,000 on each EV but make it up on volume

[crAbb]

[Car-Addicted]

Maine rejects sweeping electric vehicle mandate in blow to governor's climate agenda
March 21, 2024
The Maine Board of Environmental Protection (BEP) turned down the so-called Advanced Clean Cars program after receiving overwhelming opposition from stakeholders and citizens. The proposed program would have closely mirrored regulations approved in California, mandating that at least 51% of new car purchases in the state be electric by 2028 and 82% be electric by 2032.
"The Maine Board of Environmental Protection received nearly 1,800 comments from the people of Maine and nearly 84% were not in favor of this EV mandate,"
Critics of aggressive EV requirements warned that the Maine power grid is currently unequipped to handle the significantly increased demand and load that would be generated by widespread EV adoption. They also argued that power outages, triggered by storms like the December windstorm, could render large swaths of an electrified transportation sector useless.
According to the Alliance for Automotive Innovation, a group that represents major automakers, 5.8% of total car purchases in Maine last year were electric or plug-in hybrid.
Democratic Maine Gov. Janet Mills, who has pursued an aggressive climate agenda since taking office, did not respond to a request for comment at press time.
https://www.foxnews.com/politics/mai...climate-agenda

[Weather Man]

Originally Posted by dgoldenz

I saw a post from the car dealership guy on Twitter with an ad for a 2023 Volvo C40 EV that was $58k MSRP with 10k miles on it for $28k. And that’s the advertised price which means they prob paid 23k in trade/wholesale.

Someone got fleeced. Nobody wants to buy a new EV now that people have seen the massive depreciation they’re taking, hence the massive rebates. The cycle will continue as the low resale will create a large spread between new and used where it doesn’t make sense to buy new unless you’re leasing. So then they have to heavily subsidize the lease and the cycle continues as values are further depressed for used ones.

When I looked at the Ford Lightning used and new for a couple hundred miles around me, the 4 cheapest listings were NEW on the lot. That is awful and means the used market is basically paralyzed until dealers and individuals take the whipping and dump the inventory at discovery price, which will be painful.

[Car-Addicted]

Originally Posted by Weather Man

That is awful and means the used market is basically paralyzed until dealers and individuals take the whipping and dump the inventory at discovery price, which will be painful.

The elephant in the room is that most EV's are sold on leases so it's the lease company who is holding the paper on these used EV's. A lot of these leasing companies are owned by the manufacturers, directly or indirectly. Most reports are the glut in off lease EV and the lowering of prices from the manufacturer have made this a buyers market. I think your dealer is an outlier and I'll bet if you walked into the dealership you would get a hell of a deal, assuming you wanted a EV?

[crAbb]

Originally Posted by Car-Addicted

The elephant in the room is that most EV's are sold on leases so it's the lease company who is holding the paper on these used EV's. A lot of these leasing companies are owned by the manufacturers, directly or indirectly. Most reports are the glut in off lease EV and the lowering of prices from the manufacturer have made this a buyers market. I think your dealer is an outlier and I'll bet if you walked into the dealership you would get a hell of a deal, assuming you wanted a EV?

Here in the UK, Porsche dealers won't take a Taycan as a px.

[crAbb]

Originally Posted by Efthreeoh

If she was just driving on the ranch, then no harm no foul. But I'd like to know did the Model Y catch on fire while underwater? That would totally suck to get burned to death while at the same time drowning. Ugh.

I'm sorry, but I just spat my beer out over the dogs head, laughing at this

[crAbb]

Originally Posted by Weather Man

Bentley was one of the first established automakers to commit to a fully electric future, telling the world in 2020 that it intended to built its last combustion engine in 2030. From that point onwards, the plan was for all Bentley models to be full EVs.

As suggested by the tense of that last sentence, that now seems to be changing. Bentley’s CEO, Adrian Hallmark, told journalists that the 2030 deadline should no longer be regarded as hard and fast. “We may drag it out a bit longer,” he said, on an embargo'd conference call on Friday discussing the company’s financial results, “but not to 2035 or 2040, just for a couple more years.”

Here in the UK, where Bentleys are assembled from VW parts, the news is that Bently are focusing on hybrid (gas plus battery), at the expense of the EV program, as the market is realigning itself for a more modest uptake in BEV than out politicians would like us to believe.

[gonzo]

Governor of Maine sensed the impending boot from office. EV mandate put on hold.

[Weather Man]

Originally Posted by Car-Addicted

The elephant in the room is that most EV's are sold on leases so it's the lease company who is holding the paper on these used EV's. A lot of these leasing companies are owned by the manufacturers, directly or indirectly. Most reports are the glut in off lease EV and the lowering of prices from the manufacturer have made this a buyers market. I think your dealer is an outlier and I'll bet if you walked into the dealership you would get a hell of a deal, assuming you wanted a EV?

No, that was multiple dealers 500 miles around me! It should be a buyer's market, but it won't be until the dam breaks. The dealers are hoping they can trickle them out and Ford keeps production extremely limited.

Also, it might be a case of the target market realizing that an EV pickup is as useless as tits on a boar. You can't do what you need to do with a truck for even the most casual buyer of a truck, and they REALLY eat the tires.

[Weather Man]

Apparently, they don't want the ID4 !

[M5Rick]

Originally Posted by Car-Addicted

Maine rejects sweeping electric vehicle mandate in blow to governor's climate agenda
March 21, 2024
The Maine Board of Environmental Protection (BEP) turned down the so-called Advanced Clean Cars program after receiving overwhelming opposition from stakeholders and citizens. The proposed program would have closely mirrored regulations approved in California, mandating that at least 51% of new car purchases in the state be electric by 2028 and 82% be electric by 2032.
"The Maine Board of Environmental Protection received nearly 1,800 comments from the people of Maine and nearly 84% were not in favor of this EV mandate,"
Critics of aggressive EV requirements warned that the Maine power grid is currently unequipped to handle the significantly increased demand and load that would be generated by widespread EV adoption. They also argued that power outages, triggered by storms like the December windstorm, could render large swaths of an electrified transportation sector useless.
According to the Alliance for Automotive Innovation, a group that represents major automakers, 5.8% of total car purchases in Maine last year were electric or plug-in hybrid.
Democratic Maine Gov. Janet Mills, who has pursued an aggressive climate agenda since taking office, did not respond to a request for comment at press time.
https://www.foxnews.com/politics/mai...climate-agenda

Slowly but surely it will spread.

[gonzo]

Originally Posted by Car-Addicted

Maine rejects sweeping electric vehicle mandate in blow to governor's climate agenda
March 21, 2024
The Maine Board of Environmental Protection (BEP) turned down the so-called Advanced Clean Cars program after receiving overwhelming opposition from stakeholders and citizens. The proposed program would have closely mirrored regulations approved in California, mandating that at least 51% of new car purchases in the state be electric by 2028 and 82% be electric by 2032.
"The Maine Board of Environmental Protection received nearly 1,800 comments from the people of Maine and nearly 84% were not in favor of this EV mandate,"
Critics of aggressive EV requirements warned that the Maine power grid is currently unequipped to handle the significantly increased demand and load that would be generated by widespread EV adoption. They also argued that power outages, triggered by storms like the December windstorm, could render large swaths of an electrified transportation sector useless.
According to the Alliance for Automotive Innovation, a group that represents major automakers, 5.8% of total car purchases in Maine last year were electric or plug-in hybrid.
Democratic Maine Gov. Janet Mills, who has pursued an aggressive climate agenda since taking office, did not respond to a request for comment at press time.
https://www.foxnews.com/politics/mai...climate-agenda

Didn't mean to double post. I didn't see this because I didn't see this.

[M5Rick]

Originally Posted by crAbb

Here in the UK, Porsche dealers won't take a Taycan as a px.

EV taycans are the black sheep of the Porsche line up, an instant huge financial hit for the purchaser/leaser as soon as car is registered.

[Weather Man]

At least the circuit breakers work, sounds like popcorn!

https://www.instagram.com/tektite_jk/reel/C4rSJ6ntIC4/

[Car-Addicted]

I'm speech less.
Tesla Launches Cybertruck-Inspired CyberHammer
Behold, the CyberHammer. The electric automaker on Thursday said it will make 800 Cybertruck-inspired sledgehammers available through its referral program. Tesla said it would release the hammers in small batches, apparently so that customers with tons of credits don't snatch them all up in a day.

[M5Rick]

Originally Posted by Car-Addicted

I'm speech less.
Tesla Launches Cybertruck-Inspired CyberHammer
Behold, the CyberHammer. The electric automaker on Thursday said it will make 800 Cybertruck-inspired sledgehammers available through its referral program. Tesla said it would release the hammers in small batches, apparently so that customers with tons of credits don't snatch them all up in a day.

That CEO who drowned going backwards into a pond could have done with one of those.

[Car-Addicted]

Originally Posted by M5Rick

That CEO who drowned going backwards into a pond could have done with one of those.

I read that Angela Chao was already "Hammered" . Too soon?

[Efthreeoh]

Originally Posted by M5Rick

You checked if they are still there heheh

As I remember it playing out, VW re-flashed the ECUs to remove the diesel out-of-test-mode code and resold the inventory over the next few years. A buddy of mine bought one, a diesel Golf with a manual transmission. There were great deals to be had, during 2017/2018 as I remember it. [Apparently, an aftermarket re-tune could be had too, to get the performance back]...

[RM7]

Originally Posted by M5Rick

That CEO who drowned going backwards into a pond could have done with one of those.

But probably not, since she was drunk.

[Car-Addicted]

You Could Get A New Chevy Bolt For $8,000 In California
Mar 24, 2024
As EVLife recently reported, Californians who meet specific income, residency, and vehicle ownership requirements can take advantage of a mix of state and federal incentives to nab a new Bolt EV for as low as $8,000 or an EUV for as low as $9,300.
Following the Inflation Reduction Act of 2022, Chevrolet vehicles once again became eligible for the federal EV tax credit of $7,500. Thanks to the rollout of point-of-sale discounts, this can make the process even easier for buyers since they no longer wait until the next tax season to receive their rebates.
The combined power of these three programs allows some prospective buyers to drive home in a new Bolt EV at one-third of MSRP.
https://insideevs.com/news/713571/ch...nt-california/

Watch out for the mad dash to the Chevrolet dealerships.

[M5Rick]

Originally Posted by RM7

But probably not, since she was drunk.

You'd be surprised how a drinker in a sinking car can react with a big hammer.