And if the WP notices, it must be worse than they’re actually saying
EV transition cools as demand slows and automakers trim production
The Biden administration’s push to entice more Americans to buy electric vehicles is falling short of expectations as consumers fret over prices, battery range and a lack of charging stations.
U.S. sales of fully electric cars are still growing at a fast clip — they are up by more than 50 percent this year over 2022 — but automakers say growth has slowed in recent months, prompting them to trim their production plans and pause some investments.
“Automakers have moved from rosy to reality because consumer acceptance has grown more slowly. So they are looking at kind of slowing their rollout,” said Michelle Krebs, an industry analyst with Cox Automotive. The transition to EVs is “not going to be linear and there are going to be a lot of bumps in the road,” she added.
There were 869,000 fully electric vehicles sold in the United States in the first 10 months of this year, a 56 percent increase over the same period in 2022, according to data provider J.D. Power. That growth rate marked a slowdown from two years earlier, and was lower than what some automakers had forecast.
The problem is, they think this is some sort of transition, but, it is not a consumer based one, it is a Governmental demand one. Most consumers are not asking for them and aren’t interested. Perhaps the WP reporters should be asking those who are attempting to force this “transition” on Americans if they are driving EVs themselves
“The narrative has taken over that EVs aren’t growing. They’re growing,” Ford Chief Financial Officer John Lawler said in October. “It’s just growing at a slower pace than the industry and quite frankly, we, expected.”
They didn’t ask consumers, they asked government, and now you’re seeing things like 50% of Buick dealers taking buyouts, VW in a massive hole, Lincoln dealers doing the vast majority of their business in used vehicles. Just because the government is telling everyone that Castor oil is great and everyone should get it doesn’t mean we want it.
EV experts say it’s still possible to reach the White House’s target if consumers see progress soon on charging availability — something that should happen as federally subsidized chargers start to appear in the coming months. Mark Z. Jacobson, a renewable-energy expert and engineering professor at Stanford University, said buyers also need more information about the cost savings of going electric.
“Given that driving an electric vehicle saves the average driver about $20,000-$30,000 over 15 years in fuel cost savings alone, I think the only thing holding back consumer demand is a lack of information about this,” he said.
Even the vast majority who keep their vehicles a long time do not keep them 15 years. The average ownership period is 4 years. So, you’ll lose a ton, no too mention your insurance is at least 25% higher. Also, that’s the White House’s target. Last time I checked this is still a free country. If you want one, get one. Forced acceptance is dictatorial.
Meanwhile, the First Street Journal is noticing that investors are fleeing from charging stations.
If EVs were easier, cheaper and performed better, democrat regulators would keep people from buying them.
But, but, but, Mr H keeps telling us that these cars are selling like hotcakes!
The reality of the bottom line is catching up the the gummint spin. EV’s are going to be a niche product for some time until price and convenience catch are comparable to ICE vehicles.
““Given that driving an electric vehicle saves the average driver about $20,000-$30,000 over 15 years in fuel cost savings…..”
Two problems with those savings…
People who can afford $30K for new cars buy a new one about every 4 years, 11 years before the fictional savings point.
Even if the owner keeps the car for years and years and years….Batteries last about 100,000 miles. With an average yearly drive of around 12,000 miles, the batteries must be replaced at around 8 years requiring a considerable repair bill… I wonder if the “professor expert” factored that in.
With the average replacement cost between $4k-$20k, Tesha’s Model 3 batteries cost $17,000, there is very little used car market.
If “owners” keep the car for 15 years then 15 years from now the replacement new car market becomes 1/15th of the owner base. The manufacturers cannot survive with that, even with a healthy growth of new customers.
Cost is very volume sensitive so first consumer price will have to increase.
All of this brands the professors figures as pure bullshit.
Mr Lewis quoted:
OK, so no gasoline burned, but how much does it drive up your electricity bills?
Dana
That was a quote from the article. I then proceeded to, hopefully show how wrong the professor’s numbers are.
I didn’t address the cost of fuel or electricity.
Obviously the cost of gasoline will go up as the volume goes down. And the states and feds will load up more and more taxes to encourage less use.
Less obvious is that the cost of electricity will go up as the ever increasing demand will require, at a minimum the amount generated to be doubled. And the local distribution grid will also have to be doubled. Using a SWAG I see 30 to 40 cents per KWH. Which means that a bill of $200 per month will become $400 to $600 per month, perhaps more.
This “professor” almost makes bill nye and neil degrasse tyson appear intelligent.
Almost – those two dolts are still idiots.
Dana
Not all the EV manufacturers are doing well, but Tesla which has over 50% of market share of EVs in USA.
EV sales have slowed BUT still have recorded an amazing years sales increase of 50%
Tesla Mod Y will come in at #2 best selling passenger car sold in the USA, only behind the Toyota Rav 4, a much cheaper car.
80% of Tesla owners charge at home at night when utility costs are lowest. Do they very seldomly have to wait” st all. The Louisvill-Jefferson county in Kentucky has more than 80 FREE charging stations for EVs. There may be waiting tines at these but I am sure more will be put in place in the future
There are many good reasons NOT to buy a EV at this time. Every year they get cheaper and also have better range and Tesla is increasing the variety available. I expect the Cybertruck to be a big seller AND the first pics of the Mod 2 look great. It will be available as either a 2 or 4 desert with Tesla’s gullwing like doors probably in the 35 to 30000$ range before tax breaks. The Mod 3 price has now dropped to 39000$ before the 7500$ tax credit
Some owners may/may not choose that option.
H
amazing years sales increase of 50%
An increase from 1 to 2 is an amazing increase of 100%.
It’s the base number that gives an increase meaning.
You have no grasp of reality.
Just read an article on the ‘Daily Mail’, US edition online, highlighting a poll they ran regarding opinions and demographics on EV’s. Interesting read, I would suggest it for anyone with an interest in EV’s.
Additional comment, home charging is generally limited to Level1 or Level2 chargers, higher capacity chargers simply aren’t suitable for residential use. You most likely will not be able to maintain a 90+% charge unless your day to day use is minimal. Some folks like to talk about ‘lower rates over night’, this is a myth in many parts of the country. Having been an electric rate payer in 5 different states and have never I had ‘timed’ billing.