EVs aren't working according to Auto Execs

[BACamster]

I guess auto execs wants to sell more gas guzzling, gigantic trucks and SUVs than EVs.

Auto execs are coming clean: EVs aren't working

From GM to Tesla to Mercedes, execs across the auto industry are tempering expectations on electric vehicles.

www.yahoo.com

 

[joec]

Yes, if you build EVs that are sucky conversions of existing ICE cars, they will fail. Shocker of the century.

Everything else can be chalked up to a risk-averse public due to a constant scare campaign about the economy that's been going on in the press since the beginning of 2021.

 

[xponents]

Yes, if you build EVs that are sucky conversions of existing ICE cars, they will fail. Shocker of the century.

Everything else can be chalked up to a risk-averse public due to a constant scare campaign about the economy that's been going on in the press since the beginning of 2021.

I cannot tell you how many times my parents and other financial mags say that the “recession” started. The FUD is ridiculous.

And the constant bad EV press for the past 2 weeks is very obviously a hit campaign… but by who?

 

[BACamster]

I'm sure there are hidden agendas behind all of these bad EV news and articles.

 

[joec]

I cannot tell you how many times my parents and other financial mags say that the “recession” started. The FUD is ridiculous.

And the constant bad EV press for the past 2 weeks is very obviously a hit campaign… but by who?

People shorting EV stocks.

 

[Genghis]

Starting with Tesla's earnings call where Elon even stated there's waning EV demand due to the economy, it's being reinforced by the big automakers that are not giving guidance on EV production and sales targets. They are all saying it's hard to gauge the EV market right now so they can't give guidance on targets which to me says EV demand and sales are significantly down across the board.

I did see yesterday on CNBC from a Porsche executive that luxury segment usually fares well even in economic downturns so they were optimistic. But right now, almost every luxury brand holding companies (non-automotive) have been reporting missed Q3 earnings and downforecasting Q4 and EOY guidance. Lots of headwinds for all including Lucid as is in both EV and luxury.

 

[stratus]

Reliable charging stations ( other than or in addition to Tesla ) , every 50 miles , on most major roadways ,will go a long way in increasing EV adoption. Installing chargers in apartment complexes, on streets and in hotels , will also help. Until that problem is rectified , we are in for stagnant sales.

 

[joec]

Reliable charging stations ( other than or in addition to Tesla ) , every 50 miles , on most major roadways ,will go a long way in increasing EV adoption. Installing chargers in apartment complexes, on streets and in hotels , will also help. Until that problem is rectified , we are in for stagnant sales.

If you built an EV station every 50 miles right now, every one of them would go bankrupt by next year.

Apartment complexes, hotels, parking garages—absolutely. Anywhere where profiting from the actual EV charging is not necessary.

 

[quantum]

High interest rates and fear of recession is scaring everyone from purchases. But I strongly feel EV’s will prevail. I’ve always been a car guy and a big dream of mine was to buy a used Ferrari. But after driving the Lucid, I don’t freakin care about any Ferrari anymore!

Better performance, no gas stations, quieter, smoother, less complex, less maintenance, more space ( with a proper EV, not those things the Germans make)…..what’s not to like except the difficulty to charge on trips. That last part will slowly improve.

 

[stratus]

If you built an EV station every 50 miles right now, every one of them would go bankrupt by next year.

Apartment complexes, hotels, parking garages—absolutely. Anywhere where profiting from the actual EV charging is not necessary.

Good point, but I think the government needs to be involved a private / public partnership to get something like this accomplished. I doubt private industry is interested in the investment, for the very reason you stated. I know the Inflation Reduction Act included tax incentives for charging stations, but I am unsure of the details. I think the push needs to be much more robust ( a favorite word around here). Anyway, just wishful thinking on my part.

 

[EXOTIC2]

People shorting EV stocks.

Agree, GM & F barely had a 10% drop the entire month of strike. The WS game is strange. EV’s will be fine.

 

[BACamster]

Good point, but I think the government needs to be involved a private / public partnership to get something like this accomplished. I doubt private industry is interested in the investment, for the very reason you stated. I know the Inflation Reduction Act included tax incentives for charging stations, but I am unsure of the details. I think the push needs to be much more robust ( a favorite word around here). Anyway, just wishful thinking on my part.

If there are money to be made, private industry will build them. If charging stations are as nice as clean as the Tesla Supercharger station at Kettlemen City, CA or as nice as these charging hub and if CCS EVSEs in the US are reliable as Tesla SC, average EV drivers will come.

 

[manitou202]

EV sales are still strong. It's the rate of increasing sales has slowed down.

The vast majority of EV options today are still more expense than the average buyer can afford, especially with current interest rates. So we might see a bit of a plateau around 20-30% market share until lower cost options hit the market and/or interest rates start to drop.

 

[Cosmo Cruz]

I saw value in a car that was a watch, figuring watches pretty much run forever, hardly need any service/ maintenance, and can be heirlooms if they are kinda special. So for that I was willing to take a little risk; push the budget a bit past conservative. I've been watching Tesla all these years...because I worked in the lithium chemistry business since the early 70's, when all our customers were military. Right when I was ready to buy Elon came out with is "joke" steering wheel, and started revealing his self.

I put my name on the list for a Dream Edition, but (fortunately) was too late. Could not be happier with my Air GT.

People look at the car, but I don't think they see what I see. I see all the engineering, all the software design. I see all of it.

I love this company.

(full disclosure: I bought LCID @ ~ $10 / share; sold half of it at ~$50 share. Sill holding the half. I am a true believer in LCID.)

 

[EXOTIC2]

Was at my local mall. Lucid/Tesla stores both 3/4 filled at 11 am on a Wednesday. The demand seems just fine and more encouraging news seems to be emerging.

 

[Snafu]

The other major consideration is that some people buying the EVs (or going for the "discount" EV rental) have done no research or had any type of familiarization with them and the learning curve at the public chargers, even if they are working is a huge frustration for them. I still think the move to have so many EVs going to rental companies did the transition a huge disservice. I don't use the public charges much, but I'd say at least half the time I spend helping people figure out how to get the chargers working. (I watched someone try to put the blue CHAdeMO connector in their charge port the other day).