They conveniently left out the part where automakers were trying to sell their EV's for 20k over their gas-powered equivalents. Yes, I can save money on gas. No, it doesn't bridge a 20k gap in price.
Or the part that EV is more expensive to maintain. Tires wears down much faster rate due to weight and ridicilous torque that is inpractical in real life. Oh and more expensive insurance.
@@markoliimatainen2565 agree with the tires wear, but more expensive on maintenance? We've had our Teslas for over 3 years. Only refill windshield wiper fluids, cabin air filter and tire rotation. What maintenance were you referring to? Oil change? 😂
@poochyenarulez electricity isn't free. In California, where a large chunk of EVs are sold, the cheapest possible electricity rate for overnight, non-peak charging is often over 25 cents per KWH. Even on an econo box like a bolt or model 3, the cost per mile in electricity is easily 8 cents per mile. A prius or camry hybrid at ~50 mpg costs within 2 cents per mile as an efficient EV. Calculate a realistic cost per mile savings of even 15 cents, and you are easily going to have to drive 100k miles for a break even on a claimed $20k premium (which I think is overstated, but still). Factor in high depreciation, and there is little evidence to suggest EVs make sense for only cost reasons.
What shoddy reporting. The carmakers have no one to blame except themselves. 60 grand for a mid suv really?? Always charging +10-20K over sticker, they def deserve to go under
Stellantis raised the prices of it's vehicles by 60% from 2019 to 2024... that's not inflation, that's total corporate greed. And the customers basically gave them the finger.
They are trying to put a spin on the obvious all new vehicles are expensive and EV vehicles will get even more expensive. The truth isn’t good for business.
US "cars" (actually light trucks) have always been overpriced and boring, thanks to an extremely conservative buyer base and a big protectionist barrier (the chicken tax).
union workers are expensive. ford's assembly workers starting wage is $28 per hour with top out at $32 per hour. Plus $2 per hour in form of cash bonus, stock, commission, profit sharing..then outsourcing supply chains which cost more additional. in comparison, chinese EV company owns the whole supply chain which brings down cost..then you have taxes in USA..
Insurance is also going crazy. Insurance is almost scam to begin with where they take money from thousands and give claim to couple of claimant. Only if they don't find some reason to not to pay. They also increase insurance cost for those claim insurance. In European countries its very difficult to drive without insurance, but insurance sometimes is more than second hand car.
In a sane world the manufacturers and retailers would drop prices of the overproduced cars to clear up their lots but I'm pretty sure in the dystopian timeline we live in they'll instead decide to just scrap them/let them rot, because it totally makes sense to not receive any money for the thing you produced instead of the money you thought people would be willing to pay for it 🙄.
I think it's a cost thing. EVs are more expensive to produce. Price adjustments have happened on ICE cars with larger profit margins. Just look at the Dodge Hornet. 10k mark down because it's selling so poorly.
@@jacobrzeszewski6527 EVs are more expensive to produce for manufacturers who spent 100 years streamlining their combustion engine vehicle designs, but have spent no time optimizing their EV platform designs. On balance, EVs are much, much simpler due to having way fewer parts in general, and way fewer moving parts especially.
EVs do t have to be more expensive and frankly don’t need to be; just look to China. You can buy Chinese EVs in China for $5k USD; even with 100% Tariffs they can import $20k EVs to the US. US companies can absolutely make EVs, Hybrids, and ICE vehicles for under $25k but they choose to go after more money. If we eliminate government subsidies then the market would correct pricing as companies would have to be competitive.
Yup! So were the oil companies. Now they can kiss our arses. I will never buy a modern vehicle. I'll keep my body on frame fuel injected rear wheel drive V8 for as long as it stays screwed together. No touch screens no beeping nannies no electric crap that's so brittle it breaks when u touch it I have a keyhole on the trunk and both front doors and a key for the ignition and fuel filler door too 😂
That's a great point. Sensible cars have almost disappeared from lineups. It's all testosterony SUVs with poor interior space utilization and high fuel consumption at high prices.
Probably because they use a lot of off-the-shelf components, but when they try to make their own stuff in house economies of scale start to really apply.
Just like mobile phones, people don't change theirs as much in recent years since most of them are equipped with functions and features beyond what most would need.
Yeap, thats true. A flagship phone bought new should be good for the next 6-8 years. Heck, i still have a 6S thats now reduced to a backup phone. Its pretty much in storage, and despite it not being able to update anymore, i can still use it. Its now unabashedly “entry level” since it was released 9 years ago.
@@Stinger522 my cousin has an ev and never spends any time charging her car, nor does she go to a charging station. just comes home and plugs in the car. sentry mode also doubles as a supplementary alarm and security system for her house.
Make the cars cheaper lol that’s how you sell more. People LOVE buying new things, but right now across the west but certainly in the US, salaries don’t even come close to approaching what they need to be for people to pay the kinds of prices companies are asking.
@@jonfrench7133 the cheapest FORD ev IS ABIUT 40,000 THE cheapest Tesla is about 40,000. lots of old number running around the US. also lots of old number for gas vehicles too. oh and it kills the company as every thing is short ter. just look where GE i today. and where Boeng is now.
The EV market was created artificially by the government through subsidies and requiring the auto makers by law to manufacture them. The market was not naturally created by consumer demand. Manufacturers changed their factory production methods and over produced a product that only a small segment of consumers were asking for. I like this piece and it was a good breakdown. But it surprises me that outlets don't report on this part of the story.
@@geoffmika WOW what a lie! "In January 2010, the Department of Energy issued a $465 million loan to Tesla Motors to produce specially designed, all-electric plug-in vehicles and to develop a manufacturing facility in Fremont, California to produce battery packs, electric motors, and other powertrain components for powering specially designed all-electric vehicles." That's just one single year. Directly from energy.gov.
Tesla got $100millions to build charging stations and right after they got Biden money They Layoffs Whole Super Charger teams and Layoffs 30,000 employees,I Kid You Not😂😂😂😂😂
The gas car market was created artificially by the government through subsidies in the form of ignoring all the damages caused by centuries of greenhouse gas emissions that should have been priced into the vehicles from the get go. Because these companies were allowed to destroy the environment and the global climate for future generations, their vehicles were much cheaper than they otherwise would have been: privatizing the profits, but socializing the losses/damages.
@@geoffmikaare you on crack? Tesla has sold carbon credits, to other manufacturers, that were given to them by the government. How much did the big three send to Tesla just to build cars their customers want? Billions……There isn’t a free market in the auto world due to government interference.
Wages don’t match the prices they want to charge. Didn’t the bean counters consider that? People can afford a $35k car. So let’s only make/sell $60k cars! We smart!!
@Baoboi332 you forgot to consider China population. Out of 1.3 B people, 300 Mill are the rich and wealthy compare that to US. 300 Millions are huge markets, that is the reason luxury brand invest heavily in China. Demand is there, is up to the company to provide better product and better service.
@@JigilJigil well that and shoveling the money out of the country. People don't realize that when you buy something imported and the company doesn't reside in the country you are taking a large % of your money and tossing it out of your country. In smaller cases like household items the effect are minimal, but the more expensive the items get (like cars) the larger the impact.
they make garbage overpriced hybrids.....that are missing out on phev credits massively. a very very short sighted strategy thats already backfiring. they dont even bother making those with 6mo wait times. meanwhile model y is about to sell more than rav4 for first time in history....somehow gee i wonder why
@@spencerathearn3586 they actually work. I have used various models quite a bit with honda being garbage in terms of handling and toyota rav4 being the best in my opinion.
@@spencerathearn3586 theyve been making hybrids for nearly 30 years and theyve have proven to be reliable and cost effective to anybody no matter where you live...
Another thing not mentioned is that people are tired of spending big money for unreliable vehicles that depreciate like a rock. Does anyone trust GM, Ford, Stellantis or Nissan? Notice how Toyota and Honda don't have the same problem moving cars.
Haha it’s so bizarre before even seeing your comment I left my own almost word for word literally saying “notice how Toyota and Honda doesn’t have this problem?”
We can't even afford the same internal combustion vehicles we could afford in 2019/2020... An F-150 selling for $42K in 2020 is now $62K. Did anyone's income go up proportionately to that? Nevermind EVs... never asked for one and it isn't practical. If other states manage the electrical grid like CA, EV simply isn't a reasonable choice.
That is genuinely happening, I work for one of these manufacturers and our CPV (cost per vehicle) has gone up as a result of the big losses in both EV and the Chinese market in general. When cost per vehicle goes up it gets spread out across the entire lineup so to keep the company solvent every car it sells must go up in price.@@mikehurt3290
Nothing in this video even tries to be accurate. They even contradict themselves repeatedly. "EVs are easier and cheaper to build" "EVs demand a higher price at market" "EVs have no demand" So, take an easier car to build, jack up the price, then claim no demand when it does not sell?
All the automakers mentioned in trouble have poor product. Kia/Hyundai, the industry leader, is barely mentioned *once* as an example for good platforms at 10:10. GM, Stellantis, VW do not have *one* decent product in their EV lineup. The Toyota bz4X is a dud lacking far behind its competition. The auto industry landscape will change considerably going forward - and customers will understand where to get good quality at a good price.
@@SweBeach2023 what you need is volume. You need to invest before you make money. An ICE engine has over 3000 parts, while an EV drive unit has only 200'ish parts. It's obvious which one is the future.
yep if Ford made a no frills "I just want to haul a full sheet plywood from Home Depot" electric Ranger (the original small size, not the F150 in disguise they make now) it would sell like hotcakes. They're simply selling luxury trucks in a market that was all ready completely saturated by their gas luxury trucks.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO MAKERS ARE LAGGIBG. NOW THAT INTEREST RATES ARE DROPPING THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!!
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO MAKERS ARE LAGGIBG. NOW THAT INTEREST RATES ARE DROPPING THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!!
Let’s see - mandate production of EV’s, the car manufacturers start to comply, yet a high percentage of American consumers don’t want them. What could go wrong? The car manufacturers are paying the price for misguided government mandates,as you can’t force consumers to buy what they don’t want.
It's a combination of high pricing and media spreading wrong (negative) information about EVs in general. Most EV owners don't agree on these negatives pointed out by the media.
@@NightRidah777 well. lets see back in the 60s most of the vehicles on the road had to have at least 300 on a tank of gas. otherwise they wouldnt sell and with miles per gallon being less than 10 miles per gallon. today we take a semi longish road trip (and drive around DFW a bit) from Austin to DFW in an EV. its not a Tesla and we cant use their network yet (supposed to get that maybe this month which will lots of trips a lot easier?)
Tesla made a big dent in the biggest issue with EV...charging infrastructure. Then, everyone else said, "we don't gotta do that" and barely put anything into stations. RIP your EV market.
It’s just WAY too expensive. I want an EV but if legacy automakers not going to listen I might as well just import the BYD and pay the tariffs. Still will be 1/5 the cost of that GM Hummer
Agreed about the pricing. A possible ray of hope: It seems that used EVs (probably 3-year lease returns) are beginning to hit the market at remarkably low prices. I've been hearing rumors of used Ford Mach-Es with low mileage going for somewhere in the mid-$20,000 range. That seems like a fantastic deal to me, far better than any new gas sucker. We have a 3 year old Mach-E, but we bought it, love it, and won't give it up for anything. And because someone will undoubtedly ask (it's a good question): It seems to have lost about 2% of its battery capacity and range in 3 years, not enough that we notice it even on road trips.
@@bobbyr8071 so almost triple even after incentives? I don’t think you understand the down payment of that Model Y is about the cost of the BYD to own outright
Because Toyota is right - let the consumer CHOOSE what is best for them, not push a narrative you THINK is the future. Let people decide what is the future.
This is a completely false and manipulative narrative that corporations use to convince consumers that they are consuming what they want, and not what is being forced upon them by mega-corporations.
You forgot one word: yet. I swear, the total and utter lack of patience in the business and investment community is actually insane. There’s a minor dip in demand they act like it’s the end of the world.
Of course you can talk through your hat, not having multiple billions of dollars of factory investment on the line. In fact you have nothing on the line. Cheap talk.
China announced its EV plans in 2004 , world automakers did not think they would succeed. Today they are the largest EV mkt in the world with 50% of new cars sold being EVs, they also have the largest battery production , and can produce EVs 30% cheaper than anyone. Their EVs are far superior than any legacy auto and they have lost 40% of the China mkt. which use to give them US billions in profits. The largest auto mkt by far with 24M vehicles annually. Now the Germans have discounted their cars by 25-30% and still losing mkt share. Now the US is forced to impose 100% tariff to protect its automakers , in the end it’s the US consumer that suffers and put the US further behind China.
Yes and then BYD said in 2009 they would bring a 100% EV world car to the masses and even got Warren Buffet to hand them money. Now 15 years later Tesla has been selling cars worldwide for over a decade and the Chinese are finally getting started.
@@someuser7501 And yet BYD has already outsold Tesla this year, ofc they have a bigger choice of cars. It is Elon M that said that in 5 years , most of the legacy automakers will be gone. IMO he is right. The speed the Chinese are developing new cars and battery improvements ( range, charging speed , density , durability , costs ) just remarkable. What legacy automakers do in 5 yrs they only need 2.
Ok but the flip side is we let Chinese cars in and lose our entire EV industry. That means lost jobs, expertise, and future innovation. We saw what happened when we farmed all our manufacturing out to China. They got all the expertise and innovation in manufacturing and are now outcompeting us. We need to keep Chinese cars out and give our companies time to innovate. If the situation is the same in 5-10 years, maybe then let the Chinese cars in, cause at that point it would mean our companies are just stagnating.
*Peter Rawlinson (Lucid Motors CEO and former Tesla chief engineer), May 10, 2024.:* Chinese automakers are still *"years and years behind" Tesla on EV technology.* *"If you look at the advance in core EV technology, they're still years and years behind Tesla,"* The former Tesla engineer said that Chinese EVs had progressed "immeasurably" in recent years, and were now superior to their western counterparts "in terms of fit and finish quality." However, Rawlinson thought *their engineering was still lacking.* *"In terms of the elegance of their drive train technology, the batteries, the way things are integrated … it's not even close," he said.* *"I was looking at a number of the units on display at the Geneva Motor Show and the engineering was very disappointing."*
@robertwang7825 BYD and Tesla are still about the same in overall world BEV sales. However BYD has seen their hybrid sales completely skyrocket...a segment Tesla is not in.
I'd buy an EV tomorrow, but my 2016 Prius is paid off and has many, many years of life left on her. But I am planning on replacing it with an EV, but unless something big happens with the EVs from the big 3, it will be a Tesla.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
I'll save you a lot of time by telling you what CNBC wouldn't say. There is no demand for EV's. There is a very, VERY fringe group of environmentalist consumers that want them and that's it. Not enough to invest in the market by the big automobile companies.
Only once was “pricing” mentioned 3:48 and mention is the right word. No follow up. This is the problem with all vehicles right now and particularly EV’s …they cost way more than people can afford. Not discussing this particular issue in more detail is a major oversight in this video.
Production costs are higher in countries with higher wages. China's products are cheaper due to low-wage labor, sometimes exploitative, and Chinese government support programs for their car makers. We have few options: try to learn from industry leaders from Toyota, Honda, or move production to cheaper countries, Vietnam, Indonesia, etc. Another BIG point on affordable pricing; Imagine making no friend by imposing tariffs to all country to bring manufacturing work home. Manufactory everything at home with the very high domestic wages and want to keep prices low for affordability? Good luck with that. Do you see how unrealistic it is?
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
@@ETN-k2l What is there to learn from Toyota when it comes to EVs? They are further behind than Ford or GM. US should learn from China but it's too arrogant to do that which is why we're stuck with $50K EVs
It is every early days of EVs and like many other products, they bring out the high end models first for best profits to keep funding development. Same reason ABS, airbags, etc. came out in expensive cars long before the components became cheap enough to be in a 14 grand car.
That’s not anyone else’s fault but the companies. They were wrong in predicting the impact of evs despite knowing how little green they’re over an ice vehicle. Should’ve invested more in hybrids and better ice vehicles(like toyota did).
bUt ToYoTa Is GoNnA gO oUt Of BuSiNeSs. Remember those famous words when toyota said it was a bad idea in the first place? They jumped in too fast. 🙈 They all laughed at toyota too.
If you make cars that people can't afford, DON'T BE SURPRISED WHEN PEOPLE CAN'T AFFORD THEM. Chinese EVs are way more affordable so people will (SHOCK) *afford* them. 🤦
Corporate greed and not willingness to focus on core problem is what is causing this. And the core problem is releasing cost effective EVs and reliable ICEs which does not have crap software just to upsell you. This companies ruined their reputation for corporate greed and now they are crying wolf, look and Honda and Toyota or even Kia and Hyundai. And yeah don't get me started on dealerships and how they with this companies milked the market during covid.
Define Greed and then point to said greed on the P&L so you can demonstrate your knowledge of what it actually equates to. Because I guarantee, you don't know how to properly read a financial statement and the "greed" you speak of is much smaller than what you think it is
Everything is corporate greed. It’s always corporate greed. Blah blah blah. You know why Toyota ended up recalling a bunch of engines? Because people like you think the solution is to put smaller engines into cars that shouldn’t have smaller engines and then add a turbo to them to make up the difference.
Germany has faced a vehicle overproduction issue for years, so it's understandable and reasonable for companies like Volkswagen to reduce production after decades of global sales.
Meh, nobody is buying tesla anymore. They are the worst ev cars in the industry. They are rotting in the storage as nobody buys them and insurance companies are actually just throwing them into landfill, because used and even slightly damaged ev is dangerous.
@@tobinkern5389 it was widely reported. The Verge July 2 2024: "Tesla delivered fewer vehicles to customers for the second quarter in a row / The company’s quarterly production and delivery figures are down year over year, a sign that its demand crisis hasn’t ended." Tesla's gross margins also declined markedly, although it's still profitable unlike the legacy makers' EV business. "Tesla profit margins worst in five years as price cuts, incentives weigh". We'll see how deliveries and gross margins do in Q3 2024. Tesla will release the former in a week and financial results usually 3 weeks after that.
It is not that people don't want EVs, it that automakers don't want to make affordable EVs (under $35,000) and thus no one can afford or qualify for financing on any vehicles over $60,000 in this current economy.
Something that will blow one's mind is that a single Foxconn factory in China (for iPhones) employs 200,000 people on a 3 square mile campus... that's all you need to know to understand how their car production could saturate global markets. It will be interesting to see how this plays out.
When every maker targets the same segment with nearly identical models, this is what you would expect. The market segments targeted by themselves can easily support a few makers, but not a dozen or more.
There just isn’t enough demand for EVs to support a dozen different manufacturers.. Tesla grew rapidly because they had a monopoly on EV’s… Rapid growth is a lot easier when you control 100% of the market share.. I guess Ford and GM thought there were millions of people that wanted an electric car that wasn’t made by Tesla…. they were wrong.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Spoiler alert, customers aren't buying EV's. I've been in the car business for over a decade and we can't give them away even when we have them priced at a loss. They're not reliable, we don't have the infrastructure, and they're wildly overpriced.
Yes, pricing is one of the main culprits. In other words, greed. People cannot afford to regularly upgrade now, not at these prices. And by trying to squeeze every cent they can from buyers, automakers have shown people that they can go by not upgrading as often as before.
lol it’s not “greed” at all.. most EVs are sold at a LOSS… EV’s are extremely expenses to build when just the battery is $20,000 and you still have to manufacture the rest of the car..
@@jonathantaylor6926 it's a skill issue. BYD can build them cheap enough. I and many others won't pay more than $20k for a car. they need to figure out how to make them for less
@@jonathantaylor6926 EVs are sold at a 'loss' meaning after they include ALL new infrastructure and R&D without even having economies of scale they are selling at a loss. The batteries even new on the commercial market for the average person are less than $20,000. They're usually around 7500 tops and those are for big high end ones with profit margins included. Manufacturers don't pay that.
Legacy is spending millions trying to discredit EVs at one hand while they catch up to leaders and spending billions trying to catch up. What can go wrong 😂😂😂
Seriously. Volkswagon literally just put $5B into Rivian. “Oh noooo we’re failingggggg because of EV’ssssssss” (literally just invested massively in an EV company)
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO MAKERS ARE LAGGING. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Toyota's less than 1% share of the BEV market speaks volumes about how behind it is. And the argument that it's conservative doesn't fly, because it blew $hundreds of millions on its dumb hydrogen fuel cells.
VW used to get half their profit from China and they knew China was developing their own auto industry, there was no effort to keep it a secret. All automakers should have expected their sales in China to go away and should have planned for it.
@frankcoffey Consumers are the ones told to save and prepare. No one holds corporations to the same standards. Yet corps are also more likely to get a bailout over consumers as well.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Sold my 3 year old Tesla Y and bought a hybrid Camry. Tesla is fun (EV motor torque is addictive) but the car depreciates very quickly, insurance is very high and I was worried about repair costs after warranty is over. Camry is boring but I save hundreds a month on insurance and depreciation. 50mpg hybrid is good for wallet and can't be that bad for environment either.
"producing more cars then they can sell" Have they tried lowering their prices? Has the top executives tried taking a lower pay cut from the tens of millions they make every year? No? Then it's greed why they shut down.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
I'm glad to see some clarity in the media about EV sales. They are not declining in fact they are still growing. Just because automakers made unrealistic "projections" and there is slower growth than expected that is not the same thing as a decline. They should have expected normal growth not the bubble we experienced in 2022.
Exactly. Everything is back to normal. A lot of bubble burst…back to the slow and steady growth. Companies really overestimated their growth potential during the pandemic years
EV sales need to grow based on local demand. News flash, you're not going to see people trade their F150 WORK TRUCK for an EV. Period. What would really take off is an EV SUV or Van that move kids around town. Not many options for the soccer moms out there.
@@manoftomorrow5987 On side effect of being publicly traded is having to make projections and statements to keep the stock price up. It's not the way a company would normally be run.
@@vasantos-re4hb Plenty of those available that's why the Tesla Model Y was the best selling vehicle in the world in 2023. For larger space the Kia EV9 and Tesla Model X are good choices.
I’m an EV owner and I love it, Most people I talk to are still uneducated when it comes to EV’s. They have lots of questions and don’t understand it’s a viable option nowadays. These are people with money to buy, they just don’t have the understanding of the technology.
Compared to EVs by Tesla and Chinese companies, EVs by 'legacy' manufacturers seem to be B Team efforts. They have spent money but they really haven't put the same effort that EV manufacturers have put in.
Then why are you worried about chinese ev if customer demand is simply not there? You made it sound like an existential crisis but deep down you know the demand is there if it's cheap enough just that you are too greedy to do it
because the chinese manufacturers are paid by the state to sell cheap enough to bankrupt the western manufacturers. Not even they can't make cheap ev's at western standard.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Excellent point. Cybertruck and the Semi are both pretty neat products, but I'm waiting most eagerly for the model 2. An EV for the everyman. When solid state batteries come along, so many ICE arguments will fall apart.
That's what baffles me, someone manufactures something thats 20% useful & everybody just buyes it. I feel like there's wayy too much consumers that don't think rationally & have generational money to throw at these companies. And the media just catches on a wave & throws the propaganda they want to manipulate with. they're saying VW will have to change something or they'll be out of business, but VW has so much resources they can buy all chinese EVs without a problem, look it up if you don't believe
That's definitely a factor, and they didn't bring it up. The Nov 2021 $1 trillion transportation bill provided money to build out a better national network of fast chargers, and it was supposed to take a few years to clear hurdles like finding land, getting permits, etc. Feels like we should have seen more of it by now though.
That's only an issue if you don't have a place to charge at home. I've had a Tesla for two years and I've used a public charger maybe 15 times. I basically couldn't care less about public charging.
@@45314400zack so you buy a car & now have to install a station in your house just to use the car. Hmm i wonder how many people have the money to do that Let me guess you also have a second car for outside city trips? Your partner probably has a car or 2 also? Thats the point, consumerism doesn't bring convenience
@45314400zack Not having a home charger is a huge issue for a lot of people, and lack of public chargers creates range anxiety for a lot more. Glad it's working for you though.
I remember when people were roasting Toyota for spending more $ on EVs. i can tell you why. The infrastructure is nowhere close to supporting EVs maybe in California but not here in the Northeast where the majority of the US population lives.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
@geoffmika Not sure what planet NPAMike is on but Teslas are all over the place here in Massachusetts as the Model Y was the #3 selling car in Massachusetts in 2023 and we are the most populous state in New England.
It is simple. Make the price more affordable and people will buy. The automakers were hoping to make a ton of money off consumers. Please do not say the cost of EV modules is costly. I work for an EV module company and know the price we charge VW and Ford.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
If the term stranded capital is defined as money that is tied up in investments that aren't yielding returns I'm thinking CEO pay is also stranded capital. 😁
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Any person with a realistic view of how to keep as light of an environmental impact as possible has retained their ICE vehicle and will continue to maintain them for as long as possible, and then purchace another second hand ice vehicle once the original dies. Lithium batteries can't be recycled, require unique mining in newly opened lands instead of existing mines, require many more unique materials not already in the manufacturing cycle, and blow up at a higher rate per capita than lead acid batteries. People that buy evs for personal use are either doing it for the fashion statement or are self-righteous and short sighted 'environmentalists' that can't recognize we won't be able to CONSUME our way out of our environmental crisis. The atmosphere isn't the only thing that's being trashed, there are many areas on land that actually affect the atmosphere that we're destroying in the name of 'net zero'.
Funny how the narrative is pushed towards the "slowing down of EV's demand" myth all the time, mostly in a juvenile way. The reason EV is going slow in USA is poor structure with incredible high price. The land of the free with no competition. Places like Norway, Sweden, Netherlands and China are presencing exponecial growth and their combustion markets are shrinking. Even here in Brazil, where demand is low specially due poor structure, competitive prices are making EVs gain traction month after month.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
What do you mean by "poor structure"? If you are referring to charging infrastructure, virtually any house in the USA can have an EV plugged into it. Public chargers are not how most people charge.
@@daniels2761 Agree. But not rarely we see the media pointing out to ”structure” as it was public stations alone. In fact it's not about tangibles only, but how the public sees it. This narrative makes people think they won't be able to have an ev properly, travel, etc. Anyway, sth about 70k public charges in US is still tiny vs more than 3 millions in China, so it's a big difference
Tesla's investments are paying off and they are selling their Model 3 for only 39k (and a lot less with tax credits). It's not EV's that are bad, it's traditional american auto company that sell bad cars.
Price too high, hard to find charger when travel long distance, sensitive to extreme weather (too hot/too cold), power outage=travel outage, low resale value, risk of fire.....so many things can go wrong so risk is bigger than benefit (gas saving, quick acceleration, quiet cabin).
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
The majority of EV's being produced are luxury vehicles and price is driving many away from EV's. We need smaller, more affordable EV's, and a goal towards increased efficiency (ie. more miles per kwh) to reduce the need for larger batteries. Also, many neglects to mention EV's are only cheaper to charge with home charging. Without it, there's no real financial benefit to owning an EV. Most people won't pay more to produce less CO2.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
Finding financial advisors like Jessica Lee Horst who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Uh pretty obvious what is happening here. The brands that make unreliable cars are struggling. Go figure. Too many auto manufacturers are making overpriced garbage cars!
In a world where prices and inflation are high, a vehicle with a price tag that's $15K - $20K higher than the gas equivalent vehicle, has build and/or software issues (Tesla, GM, VW, etc.), that has a short/shorter range, plummeting resale value, is more expensive to insure, could require expensive home electric/charging upgrades, and relies on infrastructure that is often lacking, is obviously a non-starter for most people. The early adopters have bought their electric vehicle, and I hope theyre happy and enjoying them, but the average person isn't interested. It's that simple. And telling them that they'll break even in 10-12 years because of gas and maintenance savings isn't going to sway a public with an attention span of 2 minutes. I recently bought a midsized hybrid CUV that has excellent build quality, includes wireless Android Auto/Apple Carplay, gets 40 mpg, has 490-500 miles of range, and my insurance barely increased. And if I get in a minor accident, it can be fixed, not totaled, like most insurance companies are doing to ev's. When EV costs and charging times come down, quality improves, and range goes up, then I'll switch.
My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Sophia Maurine Lanting turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
A whole lot of hand-wringing and blame-shifting. Legacy auto companies make crappy and expensive EVs with terrible software. Legacy autos also outsourced everything and crippled their own ability to pivot on anything. They can barely change how a windshield wiper works without having to negotiate with 17 suppliers. Yes there are macro factors, but the lion's share of the blame lies squarely with the legacy auto companies themselves.
Before China became a big automobile producer I never heard of the phrase 'overcapacity'. Now that the West, Japan & South Korea are getting hammered in EV sales, now everybody and their father is screaming overcapacity. China has secured the EV supply chain and it's why they're more efficient in their production and we should do the same and compete effectively.
Nobody asked the public, you know, the people with the money, if they wanted EV’s. The politicians thought they were the ones to decide. Surprise ! People have said a hard NO on them. And for good reason…
You’re telling me ev platforms were cheaper to make and those savings weren’t passed on to consumers but instead received higher markups than the gas powered equivalents? Yea no wonder ev sales are dropping. Desire for profits is destroying the ev car market.
Wasn't CNBC just saying a few years ago that Tesla was the one that was going out of business and that they would NEVER get to levels of VW and Honda? Wow - I'm glad I never listened to CNBC.
Norway consistently sees electric vehicles (EVs) make up 95% of monthly car sales, positioning the country to come very close to its ambitious goal of 100% zero-emission car sales by 2025. This success is driven by several factors: EVs are often more affordable than comparable fossil fuel vehicles, and the widespread availability of charging stations makes owning an electric car both practical and convenient.
I appreciate the thorough analysis, but Patrick Boyle made a compelling point about the government and investors' reliance on subsidies and statistical forecasts to gauge consumer demand. It's essential to pay attention to consumers' genuine needs and the practical aspects of the current EV infrastructure, such as charging time, compatibility of charging stations, and distance between charging points.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
High labor cost wasn't an issue before when people bought cars. High labor cost? Well the solution to that is either import immigrants and pay them low or outsource :)
what's your plan to reduce greehouse gas emissions so we have a chance of keeping temperature increase under 2°C by 2100? Land transportation is one of the easiest areas of the economy to decarbonize: just continue to build gigawatts of renewable electricity as every country is doing, and accelerate EV sales.
@@mc368-e6c the exceptionally rapid increase in Earth's temperature over the pre-1975 average is a fact, and scientists know what caused it. You're the one denying science here.
It isn't difficult to figure out why EVs don't sell. When most of them cost at least twice as much as I've ever paid for a car, it is a hard sell. Plug-in hybrids are probably a better option for most people, and a decent compromise.
@@BrunoHeggli-zp3nl because everyone hates the useless middleman of the dealer that does nothing but increase costs to the consumer. And dealers don't want to sell EVs because they don't need servicing and tuneups.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
I can do hybrid with a better range on battery. 🔋 but going full electric ⚡️ is a no go for me. I refuse to stand 30 min or more for a charging station aside from charging a car battery takes another 30 min. No thanks pass!
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
The U.S. exports 25% of the vehicles it produces, Japan exports about 50%, and Germany exports 80%, but China exports 10% and the U.S. and E.U. governments lose their collective minds. Apparently, only regarding China, it is "overcapacity" when they export vehicles.
I’m not sure why this problem is so hard to understand. EV’s are all new cars and thus very expensive. Most people who can afford one have one already. It’s not a demand issue it’s an affordability issue.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
@@daniels2761 How long were cars only for the rich until Henry Ford made them affordable? All new tech takes time to work out the kinks and for this type of technology leap, a decade isn't very long.
They forgot just one thing we don’t want ev, we don’t want over complicated cars, we have winters, we have 45-60min commutes. Don’t tell us what we want
@@ronbelanger4113 yes it all is and guess what what we don’t need to add to the problem if it hits the fan I can at least start my car and drive where I need to go. Not worry if Elon or the electric companies have bricked my car
All the dealerships are selling nothing but the most expensive versions of vehicles. Ford doesn’t even make regular cars anymore, ford and Chevy both only make 4dr big trucks, or SUV with all the options. There are people that can’t afford all that and want just a vehicle not a 40k vehicle nobody can afford
BMW i5 - when the car is turned off, if you try to hit the illuminated unlock button on the door, nothing happens. i cannot unlock the passanger door to let a passanger inside. so, if i cannot use the lock and unlock buttons whenever i want, i am not buying the car. very simple. electric cars also don't seem to like to "idle" - when the car is parked, i open and close the door to get in and out, while keeping all accessories running. its a nice feature in HOT weather, that modern cars have eliminated. i want to be able to CONTROL my car, not the other way around. electric cars - no thanks
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
They conveniently left out the part where automakers were trying to sell their EV's for 20k over their gas-powered equivalents. Yes, I can save money on gas. No, it doesn't bridge a 20k gap in price.
Or the part that EV is more expensive to maintain. Tires wears down much faster rate due to weight and ridicilous torque that is inpractical in real life. Oh and more expensive insurance.
@@markoliimatainen2565 agree with the tires wear, but more expensive on maintenance? We've had our Teslas for over 3 years. Only refill windshield wiper fluids, cabin air filter and tire rotation. What maintenance were you referring to? Oil change? 😂
its does though. If you spend $2,000 on gas per year and $100 on oil changes, thats over $20k in saving in 10 years.
I do my own car maintenance on my ice cars. I'm not a lazy/entitled American. @bac3phi
@poochyenarulez
electricity isn't free. In California, where a large chunk of EVs are sold, the cheapest possible electricity rate for overnight, non-peak charging is often over 25 cents per KWH. Even on an econo box like a bolt or model 3, the cost per mile in electricity is easily 8 cents per mile. A prius or camry hybrid at ~50 mpg costs within 2 cents per mile as an efficient EV.
Calculate a realistic cost per mile savings of even 15 cents, and you are easily going to have to drive 100k miles for a break even on a claimed $20k premium (which I think is overstated, but still).
Factor in high depreciation, and there is little evidence to suggest EVs make sense for only cost reasons.
What shoddy reporting. The carmakers have no one to blame except themselves. 60 grand for a mid suv really?? Always charging +10-20K over sticker, they def deserve to go under
*CNBC*
Stellantis raised the prices of it's vehicles by 60% from 2019 to 2024... that's not inflation, that's total corporate greed. And the customers basically gave them the finger.
its biden inflation
@@kevinpoveromo6324 2019 was trump good try tho.
It's corporate robbery...
Greed? You need to learn maths.
Greedflation! Real estate, food vendors and automakers were and remain the worst offenders according to stats...
Especially when the costs were not only passed onto us but then with an even larger profit margin too! Nice work if you can get it!
Why are we trying to skate by the issue… THEY ARE OVERPRICED!!!!!!!!!!!!!!
They are trying to put a spin on the obvious all new vehicles are expensive and EV vehicles will get even more expensive. The truth isn’t good for business.
US "cars" (actually light trucks) have always been overpriced and boring, thanks to an extremely conservative buyer base and a big protectionist barrier (the chicken tax).
union workers are expensive. ford's assembly workers starting wage is $28 per hour with top out at $32 per hour. Plus $2 per hour in form of cash bonus, stock, commission, profit sharing..then outsourcing supply chains which cost more additional. in comparison, chinese EV company owns the whole supply chain which brings down cost..then you have taxes in USA..
Exactly Tacoma Trd pro 70k no thanks
@@ninersnation3298oh, blame it on the American worker? Really, playing that game in 2024? GTFO
Well the dealers got greedy and jacked up the prices, so no one thinks those cars are worth it anymore. Go direct to consumer and make everyone happy.
100% we need to get away from the dealership model and move to direct to consumer sales.
Insurance is also going crazy. Insurance is almost scam to begin with where they take money from thousands and give claim to couple of claimant. Only if they don't find some reason to not to pay. They also increase insurance cost for those claim insurance.
In European countries its very difficult to drive without insurance, but insurance sometimes is more than second hand car.
To make up for ev mandates 😂
Truth
Dealerships with tons of cars on the lot seems insane. I always thought a car should be something you order if new.
In a sane world the manufacturers and retailers would drop prices of the overproduced cars to clear up their lots but I'm pretty sure in the dystopian timeline we live in they'll instead decide to just scrap them/let them rot, because it totally makes sense to not receive any money for the thing you produced instead of the money you thought people would be willing to pay for it 🙄.
I think it's a cost thing. EVs are more expensive to produce. Price adjustments have happened on ICE cars with larger profit margins. Just look at the Dodge Hornet. 10k mark down because it's selling so poorly.
They'll successfully lobby for a new cash for clunkers styled program to push out overpriced, garbage quality unsold new American EVs, calling it now.
@@jacobrzeszewski6527 EVs are more expensive to produce for manufacturers who spent 100 years streamlining their combustion engine vehicle designs, but have spent no time optimizing their EV platform designs. On balance, EVs are much, much simpler due to having way fewer parts in general, and way fewer moving parts especially.
EVs do t have to be more expensive and frankly don’t need to be; just look to China. You can buy Chinese EVs in China for $5k USD; even with 100% Tariffs they can import $20k EVs to the US. US companies can absolutely make EVs, Hybrids, and ICE vehicles for under $25k but they choose to go after more money. If we eliminate government subsidies then the market would correct pricing as companies would have to be competitive.
I wonder why their $100,000 Silverado EV isn't outselling their $40,000 gas Silverado?
How strange
There are no $40k gas silveradoes, but I get your point. All GM’s are over priced for the average US consumer.
@@KevinMiller-lh9ur They're all less reliable than they should be, as well.
@@KevinMiller-lh9ur Start at $37,000 on website.
@@KevinMiller-lh9urI checked the price ya 37 k to 70k for a gas powered compared to there 100k ev version checkouts
They were bragging a few years ago about how they had great profit margins by selling less but way much more expensive units...
All lies like these democRATS lie after lie but eventually a lie is always uncovered enjoy the ride
Yup! So were the oil companies. Now they can kiss our arses. I will never buy a modern vehicle. I'll keep my body on frame fuel injected rear wheel drive V8 for as long as it stays screwed together. No touch screens no beeping nannies no electric crap that's so brittle it breaks when u touch it I have a keyhole on the trunk and both front doors and a key for the ignition and fuel filler door too 😂
That's a great point. Sensible cars have almost disappeared from lineups. It's all testosterony SUVs with poor interior space utilization and high fuel consumption at high prices.
Probably because they use a lot of off-the-shelf components, but when they try to make their own stuff in house economies of scale start to really apply.
Nobody wants EV
Just like mobile phones, people don't change theirs as much in recent years since most of them are equipped with functions and features beyond what most would need.
Yeap, thats true. A flagship phone bought new should be good for the next 6-8 years. Heck, i still have a 6S thats now reduced to a backup phone.
Its pretty much in storage, and despite it not being able to update anymore, i can still use it. Its now unabashedly “entry level” since it was released 9 years ago.
EVs aren't selling because they are ridiculously overpriced. And automakers used these tactics from the beginning, until it backfired on them.
Repairs are thousands of dollars and it takes HOURS to recharge them whereas it takes MINUTES to refuel a normal car.
Only china can sell cheap ev..
@@Stinger522 my cousin has an ev and never spends any time charging her car, nor does she go to a charging station. just comes home and plugs in the car. sentry mode also doubles as a supplementary alarm and security system for her house.
Which is why the US is being left in the dust of history.
And everyone forgets all the money they grabbed from the tax payers! I think it was billions. I could be wrong though.
Make the cars cheaper lol that’s how you sell more. People LOVE buying new things, but right now across the west but certainly in the US, salaries don’t even come close to approaching what they need to be for people to pay the kinds of prices companies are asking.
When your car payment is more than your mortgage something is out of wack.
I’m glad some comment said it, when wages don’t keep up who’s going to buy your crap?
bob on comment. make ev’s more cost efficiently. Fords cost x3 that of tesla
Wall Street is the problem. Companies focus on short term profit over long term goals.
@@jonfrench7133 the cheapest FORD ev IS ABIUT 40,000 THE cheapest Tesla is about 40,000. lots of old number running around the US. also lots of old number for gas vehicles too. oh and it kills the company as every thing is short ter. just look where GE i today. and where Boeng is now.
The EV market was created artificially by the government through subsidies and requiring the auto makers by law to manufacture them.
The market was not naturally created by consumer demand.
Manufacturers changed their factory production methods and over produced a product that only a small segment of consumers were asking for.
I like this piece and it was a good breakdown. But it surprises me that outlets don't report on this part of the story.
Except you didn't mention that Tesla never got any subsides.
@@geoffmika WOW what a lie! "In January 2010, the Department of Energy issued a $465 million loan to Tesla Motors to produce specially designed, all-electric plug-in vehicles and to develop a manufacturing facility in Fremont, California to produce battery packs, electric motors, and other powertrain components for powering specially designed all-electric vehicles." That's just one single year. Directly from energy.gov.
Tesla got $100millions to build charging stations and right after they got Biden money They Layoffs Whole Super Charger teams and Layoffs 30,000 employees,I Kid You Not😂😂😂😂😂
The gas car market was created artificially by the government through subsidies in the form of ignoring all the damages caused by centuries of greenhouse gas emissions that should have been priced into the vehicles from the get go. Because these companies were allowed to destroy the environment and the global climate for future generations, their vehicles were much cheaper than they otherwise would have been: privatizing the profits, but socializing the losses/damages.
@@geoffmikaare you on crack? Tesla has sold carbon credits, to other manufacturers, that were given to them by the government. How much did the big three send to Tesla just to build cars their customers want? Billions……There isn’t a free market in the auto world due to government interference.
Wages don’t match the prices they want to charge. Didn’t the bean counters consider that? People can afford a $35k car. So let’s only make/sell $60k cars! We smart!!
It was all about the payment plans. They could sell you a more expensive car and charge you interest bearing payments! What a steal!
The average vehicle sales price is $47k
@Baoboi332 you forgot to consider China population. Out of 1.3 B people, 300 Mill are the rich and wealthy compare that to US. 300 Millions are huge markets, that is the reason luxury brand invest heavily in China. Demand is there, is up to the company to provide better product and better service.
@@GMK189-f2k the median income of US adults is $37k
@@zigadabooga Trucks and SUVs are why that total avg is high. The avg price for a CAR is less than $40,000.
It's the high ass PRICES!!! I bet if we let those Chinese EV cars in with no tariffs they would sell like hotcakes.
But you americans believe in biden and his tariffs, so you consumers have a lot to lose
Why do you think they put the tarrif on in the first place, to stop exactly that.
And endager everybody with low quality fire catching coffins.
@@JigilJigil well that and shoveling the money out of the country. People don't realize that when you buy something imported and the company doesn't reside in the country you are taking a large % of your money and tossing it out of your country. In smaller cases like household items the effect are minimal, but the more expensive the items get (like cars) the larger the impact.
We should be embarrassed that the Chinese EV's go farther, faster, and have more features than US equivalents at a higher price.
Toyota was smart to not overinvest in this EV frenzy nonsense
They invested a lot in hybrids
they make garbage overpriced hybrids.....that are missing out on phev credits massively. a very very short sighted strategy thats already backfiring. they dont even bother making those with 6mo wait times. meanwhile model y is about to sell more than rav4 for first time in history....somehow gee i wonder why
@@spencerathearn3586 they actually work. I have used various models quite a bit with honda being garbage in terms of handling and toyota rav4 being the best in my opinion.
@@spencerathearn3586 theyve been making hybrids for nearly 30 years and theyve have proven to be reliable and cost effective to anybody no matter where you live...
Toyota won't be around in another 10 years.
Another thing not mentioned is that people are tired of spending big money for unreliable vehicles that depreciate like a rock. Does anyone trust GM, Ford, Stellantis or Nissan? Notice how Toyota and Honda don't have the same problem moving cars.
"Perhaps I priced the product too high?"
"No, it is the market who is wrong."
Exactly who the hell want to pay luxury car prices for a freaking Dodge?
Haha it’s so bizarre before even seeing your comment I left my own almost word for word literally saying “notice how Toyota and Honda doesn’t have this problem?”
Not much said about Tesla. They profit about 8 grand per vehicle sold while Ford loses about 100 grand per vehicle.
We can't even afford the same internal combustion vehicles we could afford in 2019/2020... An F-150 selling for $42K in 2020 is now $62K. Did anyone's income go up proportionately to that?
Nevermind EVs... never asked for one and it isn't practical. If other states manage the electrical grid like CA, EV simply isn't a reasonable choice.
Right on bro.
I heard somewhere companies are losing so much money on EVs they jack up the prices on gas cars they can actaully sell to make up the difference
That is genuinely happening, I work for one of these manufacturers and our CPV (cost per vehicle) has gone up as a result of the big losses in both EV and the Chinese market in general. When cost per vehicle goes up it gets spread out across the entire lineup so to keep the company solvent every car it sells must go up in price.@@mikehurt3290
Stop voting for Democrats
Well said
Nothing in this video even tries to be accurate. They even contradict themselves repeatedly.
"EVs are easier and cheaper to build" "EVs demand a higher price at market" "EVs have no demand" So, take an easier car to build, jack up the price, then claim no demand when it does not sell?
need to keep the narrative going by all means lol
David Beppler, EV cultist and SuperTroll.
Maybe they have a lower cost of labor, but the BOM of an electrical car is still higher than that of an ICE car.
All the automakers mentioned in trouble have poor product. Kia/Hyundai, the industry leader, is barely mentioned *once* as an example for good platforms at 10:10.
GM, Stellantis, VW do not have *one* decent product in their EV lineup. The Toyota bz4X is a dud lacking far behind its competition. The auto industry landscape will change considerably going forward - and customers will understand where to get good quality at a good price.
@@SweBeach2023 what you need is volume. You need to invest before you make money. An ICE engine has over 3000 parts, while an EV drive unit has only 200'ish parts. It's obvious which one is the future.
Automakers are in trouble due to the high prices cars are selling for. Now cars are almost as expensive as buying a house. There’s your low demands.
they always ignore that part. will blame it on other reasons
yep if Ford made a no frills "I just want to haul a full sheet plywood from Home Depot" electric Ranger (the original small size, not the F150 in disguise they make now) it would sell like hotcakes. They're simply selling luxury trucks in a market that was all ready completely saturated by their gas luxury trucks.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO MAKERS ARE LAGGIBG. NOW THAT INTEREST RATES ARE DROPPING THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!!
The new EV hummer was selling for over 200k and now a year later their like 100k bad for the people who are 100k upside now
They priced the middle/lower middle class out. Keep adding options we don’t want or need. Good decade to run a mechanic shop.
And executive pay stays the same. It's a miracle I tell you.
Executive pay is tied to wall street performance, not what the company is doing.
@@davidmccarthy6061 Not exactly, pay packages are often renegotiated when execs fail goals.
you are mistaken. it's higher not the same.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO MAKERS ARE LAGGIBG. NOW THAT INTEREST RATES ARE DROPPING THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!!
Executive pay is drop on the bucket.
High inflated pricing to maximize profit, but it backfired because consumers won't buy it
People can't even afford to buy them if they wanted to (outside of getting a 72+ month auto-loan LOL)
@@chad9971 And you still need a backup vehicle for long trips. They out their damn minds.
Let’s see - mandate production of EV’s, the car manufacturers start to comply, yet a high percentage of American consumers don’t want them. What could go wrong? The car manufacturers are paying the price for misguided government mandates,as you can’t force consumers to buy what they don’t want.
It's a combination of high pricing and media spreading wrong (negative) information about EVs in general. Most EV owners don't agree on these negatives pointed out by the media.
@@NightRidah777 well. lets see back in the 60s most of the vehicles on the road had to have at least 300 on a tank of gas. otherwise they wouldnt sell and with miles per gallon being less than 10 miles per gallon. today we take a semi longish road trip (and drive around DFW a bit) from Austin to DFW in an EV. its not a Tesla and we cant use their network yet (supposed to get that maybe this month which will lots of trips a lot easier?)
Tesla made a big dent in the biggest issue with EV...charging infrastructure. Then, everyone else said, "we don't gotta do that" and barely put anything into stations. RIP your EV market.
RIP the other late entrants to electric vehicle manufacture. Tesla is leading in every category.
It’s just WAY too expensive. I want an EV but if legacy automakers not going to listen I might as well just import the BYD and pay the tariffs. Still will be 1/5 the cost of that GM Hummer
Hmmm… a Tesla model Y starts at 38k with $7500 additional credit.
Agreed about the pricing. A possible ray of hope: It seems that used EVs (probably 3-year lease returns) are beginning to hit the market at remarkably low prices. I've been hearing rumors of used Ford Mach-Es with low mileage going for somewhere in the mid-$20,000 range. That seems like a fantastic deal to me, far better than any new gas sucker. We have a 3 year old Mach-E, but we bought it, love it, and won't give it up for anything. And because someone will undoubtedly ask (it's a good question): It seems to have lost about 2% of its battery capacity and range in 3 years, not enough that we notice it even on road trips.
@@bobbyr8071 so almost triple even after incentives? I don’t think you understand the down payment of that Model Y is about the cost of the BYD to own outright
Dude, I really would not advised by an e. V I mean, if you're rich and it doesn't matter, okay
@@bobbyr8071so why are my tax dollars going to tesla
Because Toyota is right - let the consumer CHOOSE what is best for them, not push a narrative you THINK is the future. Let people decide what is the future.
This is a completely false and manipulative narrative that corporations use to convince consumers that they are consuming what they want, and not what is being forced upon them by mega-corporations.
You forgot one word: yet. I swear, the total and utter lack of patience in the business and investment community is actually insane. There’s a minor dip in demand they act like it’s the end of the world.
Of course you can talk through your hat, not having multiple billions of dollars of factory investment on the line. In fact you have nothing on the line. Cheap talk.
VW is closing freaking factories in Germany, it is a ending of their world...
China announced its EV plans in 2004 , world automakers did not think they would succeed. Today they are the largest EV mkt in the world with 50% of new cars sold being EVs, they also have the largest battery production , and can produce EVs 30% cheaper than anyone. Their EVs are far superior than any legacy auto and they have lost 40% of the China mkt. which use to give them US billions in profits. The largest auto mkt by far with 24M vehicles annually. Now the Germans have discounted their cars by 25-30% and still losing mkt share. Now the US is forced to impose 100% tariff to protect its automakers , in the end it’s the US consumer that suffers and put the US further behind China.
Yes and then BYD said in 2009 they would bring a 100% EV world car to the masses and even got Warren Buffet to hand them money. Now 15 years later Tesla has been selling cars worldwide for over a decade and the Chinese are finally getting started.
@@someuser7501 And yet BYD has already outsold Tesla this year, ofc they have a bigger choice of cars. It is Elon M that said that in 5 years , most of the legacy automakers will be gone. IMO he is right. The speed the Chinese are developing new cars and battery improvements ( range, charging speed , density , durability , costs ) just remarkable. What legacy automakers do in 5 yrs they only need 2.
Ok but the flip side is we let Chinese cars in and lose our entire EV industry. That means lost jobs, expertise, and future innovation. We saw what happened when we farmed all our manufacturing out to China. They got all the expertise and innovation in manufacturing and are now outcompeting us. We need to keep Chinese cars out and give our companies time to innovate. If the situation is the same in 5-10 years, maybe then let the Chinese cars in, cause at that point it would mean our companies are just stagnating.
*Peter Rawlinson (Lucid Motors CEO and former Tesla chief engineer), May 10, 2024.:*
Chinese automakers are still *"years and years behind" Tesla on EV technology.*
*"If you look at the advance in core EV technology, they're still years and years behind Tesla,"*
The former Tesla engineer said that Chinese EVs had progressed "immeasurably" in recent years, and were now superior to their western counterparts "in terms of fit and finish quality." However, Rawlinson thought *their engineering was still lacking.*
*"In terms of the elegance of their drive train technology, the batteries, the way things are integrated … it's not even close," he said.*
*"I was looking at a number of the units on display at the Geneva Motor Show and the engineering was very disappointing."*
@robertwang7825 BYD and Tesla are still about the same in overall world BEV sales. However BYD has seen their hybrid sales completely skyrocket...a segment Tesla is not in.
I'd buy an EV tomorrow, but my 2016 Prius is paid off and has many, many years of life left on her. But I am planning on replacing it with an EV, but unless something big happens with the EVs from the big 3, it will be a Tesla.
Dont sleep on hyundai
@johnnytran800 oh they are definitely on my short list. Basically, whoever has the better battery will likely have my money.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
EVERY SINGLE 2nd Gen Prius is still on the road. 2005-2012 or whatever. If they made 6 million, 5.9 million are still on the road.
I've been driving my 2013 Prius for 11 years now. It still drives like the day I bought it.
I'll save you a lot of time by telling you what CNBC wouldn't say. There is no demand for EV's. There is a very, VERY fringe group of environmentalist consumers that want them and that's it. Not enough to invest in the market by the big automobile companies.
Only once was “pricing” mentioned 3:48 and mention is the right word. No follow up. This is the problem with all vehicles right now and particularly EV’s …they cost way more than people can afford. Not discussing this particular issue in more detail is a major oversight in this video.
Also interests rates are still high.
Production costs are higher in countries with higher wages. China's products are cheaper due to low-wage labor, sometimes exploitative, and Chinese government support programs for their car makers.
We have few options: try to learn from industry leaders from Toyota, Honda, or move production to cheaper countries, Vietnam, Indonesia, etc.
Another BIG point on affordable pricing; Imagine making no friend by imposing tariffs to all country to bring manufacturing work home. Manufactory everything at home with the very high domestic wages and want to keep prices low for affordability? Good luck with that. Do you see how unrealistic it is?
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
@@ETN-k2l What is there to learn from Toyota when it comes to EVs? They are further behind than Ford or GM. US should learn from China but it's too arrogant to do that which is why we're stuck with $50K EVs
@@ladygracienyc2029 Wrong! Tesla is the Master Teacher. Learn from the winner not a loser.
They really thought people can afford $70K EVs in this economy? 😂
Why not, a whole lot of $80k trucks puttering to work with single occupants every day. Nice juicy 84-month loans. Not very smart but a fact
It is every early days of EVs and like many other products, they bring out the high end models first for best profits to keep funding development. Same reason ABS, airbags, etc. came out in expensive cars long before the components became cheap enough to be in a 14 grand car.
At least trucks hold their value.
the average price of EV just over $50K.. still expensive, but with subsidies can be bought for under $40K.
Bidenomics
That’s not anyone else’s fault but the companies. They were wrong in predicting the impact of evs despite knowing how little green they’re over an ice vehicle. Should’ve invested more in hybrids and better ice vehicles(like toyota did).
bUt ToYoTa Is GoNnA gO oUt Of BuSiNeSs. Remember those famous words when toyota said it was a bad idea in the first place? They jumped in too fast. 🙈 They all laughed at toyota too.
If you make cars that people can't afford, DON'T BE SURPRISED WHEN PEOPLE CAN'T AFFORD THEM.
Chinese EVs are way more affordable so people will (SHOCK) *afford* them.
🤦
i still would not buy especially from china the people that gave us covid
Corporate greed and not willingness to focus on core problem is what is causing this. And the core problem is releasing cost effective EVs and reliable ICEs which does not have crap software just to upsell you. This companies ruined their reputation for corporate greed and now they are crying wolf, look and Honda and Toyota or even Kia and Hyundai. And yeah don't get me started on dealerships and how they with this companies milked the market during covid.
Always some simple minded cringe comment like this
@@abdiganiaden Always some simple minded cringe comment like your as well... At least my comment adds a view, yours adds nothing to conversation.
Define Greed and then point to said greed on the P&L so you can demonstrate your knowledge of what it actually equates to. Because I guarantee, you don't know how to properly read a financial statement and the "greed" you speak of is much smaller than what you think it is
Everything is corporate greed. It’s always corporate greed. Blah blah blah. You know why Toyota ended up recalling a bunch of engines? Because people like you think the solution is to put smaller engines into cars that shouldn’t have smaller engines and then add a turbo to them to make up the difference.
corporate greed is a dog whistle of all time
Germany has faced a vehicle overproduction issue for years, so it's understandable and reasonable for companies like Volkswagen to reduce production after decades of global sales.
to be fair, tesla has lowered because they keep building new factories and those are still being ramped up. Their fully ramped factories are near 100%
Meh, nobody is buying tesla anymore. They are the worst ev cars in the industry. They are rotting in the storage as nobody buys them and insurance companies are actually just throwing them into landfill, because used and even slightly damaged ev is dangerous.
Tesla is already declineing!
@@BrunoHeggli-zp3nl by what measure?
@@tobinkern5389by lower Sales and collapsing profitmargins in a growhing BEV Market!
@@tobinkern5389 it was widely reported. The Verge July 2 2024: "Tesla delivered fewer vehicles to customers for the second quarter in a row / The company’s quarterly production and delivery figures are down year over year, a sign that its demand crisis hasn’t ended."
Tesla's gross margins also declined markedly, although it's still profitable unlike the legacy makers' EV business. "Tesla profit margins worst in five years as price cuts, incentives weigh". We'll see how deliveries and gross margins do in Q3 2024. Tesla will release the former in a week and financial results usually 3 weeks after that.
It is not that people don't want EVs, it that automakers don't want to make affordable EVs (under $35,000) and thus no one can afford or qualify for financing on any vehicles over $60,000 in this current economy.
If I could get a cheap ev to travel to and from work, I would be ecstatic. Unfortunately the average new car price is just under 50k which is insane.
Brand new Tesla Model 3 $29.9k
No, people just don't want EVs.
Most people still DONT WANT EVs!
@@PAIDFOR50 Most people don't even buy new vehicles in the US, they buy used vehicles or go without.
Something that will blow one's mind is that a single Foxconn factory in China (for iPhones) employs 200,000 people on a 3 square mile campus... that's all you need to know to understand how their car production could saturate global markets. It will be interesting to see how this plays out.
When every maker targets the same segment with nearly identical models, this is what you would expect. The market segments targeted by themselves can easily support a few makers, but not a dozen or more.
There just isn’t enough demand for EVs to support a dozen different manufacturers.. Tesla grew rapidly because they had a monopoly on EV’s… Rapid growth is a lot easier when you control 100% of the market share.. I guess Ford and GM thought there were millions of people that wanted an electric car that wasn’t made by Tesla…. they were wrong.
@@jonathantaylor6926 i see plenty of demand, but not if all manufacturers target the same exact model range.
exactly everyone is targeting the Model Y with vastly inferior products. Who is going to buy the MachE when the MY is just by and large a better car.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Kodak moment for legacy auto.
EV are Like Pagers,EV for Hez Ebola 🔥🔥🔥 🚒🚒😂😂😂
More like Dotcom moment for EV's
@@tandriklos177 Well said.
@@RickyLourenco Tesla is going to be like Yahoo EV Bubbles Ready To Burst 🔥🔥🔥
@@tandriklos177globally many of the cars taking sales are no EV
Spoiler alert, customers aren't buying EV's. I've been in the car business for over a decade and we can't give them away even when we have them priced at a loss. They're not reliable, we don't have the infrastructure, and they're wildly overpriced.
Yes, pricing is one of the main culprits. In other words, greed. People cannot afford to regularly upgrade now, not at these prices. And by trying to squeeze every cent they can from buyers, automakers have shown people that they can go by not upgrading as often as before.
And the higher the prices are, the more scrutiny your products will be under because people will want value for their money.
@@yvan2563 yep and they've been slowly dropping the quality of their cars for ages now.
lol it’s not “greed” at all.. most EVs are sold at a LOSS… EV’s are extremely expenses to build when just the battery is $20,000 and you still have to manufacture the rest of the car..
@@jonathantaylor6926 it's a skill issue. BYD can build them cheap enough. I and many others won't pay more than $20k for a car. they need to figure out how to make them for less
@@jonathantaylor6926 EVs are sold at a 'loss' meaning after they include ALL new infrastructure and R&D without even having economies of scale they are selling at a loss. The batteries even new on the commercial market for the average person are less than $20,000. They're usually around 7500 tops and those are for big high end ones with profit margins included. Manufacturers don't pay that.
Legacy is spending millions trying to discredit EVs at one hand while they catch up to leaders and spending billions trying to catch up. What can go wrong 😂😂😂
Seriously. Volkswagon literally just put $5B into Rivian.
“Oh noooo we’re failingggggg because of EV’ssssssss” (literally just invested massively in an EV company)
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO MAKERS ARE LAGGING. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Tesla have 100,000 Shill 😂😂😂 maybe Tesla should Layoffs 100,000 Shills instead of the whole Factory 😂😂😂😂
@@nyxline actually millions of shills/owners who can’t say enough good things about the cars. 🤣🤣🤣🤣🤣🤣🤣🤣🤣
THiS is why I subscribe to CNBC.
Toyota's 15K EVs compared to their 440K hybrids speaks volumes about where the market is right now.
You mean the same Toyota that's partnering with BYD for their plug-in hybrids and Hyundai for their EVs?
Toyota's less than 1% share of the BEV market speaks volumes about how behind it is. And the argument that it's conservative doesn't fly, because it blew $hundreds of millions on its dumb hydrogen fuel cells.
Toyota invented the EV,1997 Toyota Rav 4 EV😂😂😂😂
Toyota invented the Hybrids 1997 Toyota Prius 😂😂😂😂
what 15k Toyota EV? is that the Kai car version? the one that would make the Bolt look HUGE?
VW used to get half their profit from China and they knew China was developing their own auto industry, there was no effort to keep it a secret. All automakers should have expected their sales in China to go away and should have planned for it.
@frankcoffey Consumers are the ones told to save and prepare. No one holds corporations to the same standards. Yet corps are also more likely to get a bailout over consumers as well.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Good management?
Sold my 3 year old Tesla Y and bought a hybrid Camry. Tesla is fun (EV motor torque is addictive) but the car depreciates very quickly, insurance is very high and I was worried about repair costs after warranty is over. Camry is boring but I save hundreds a month on insurance and depreciation. 50mpg hybrid is good for wallet and can't be that bad for environment either.
Your first mistake is buying an overpriced item.
@@elmouto3883 Agreed, I wanted a cool and fast car. That was costly mistake
"producing more cars then they can sell"
Have they tried lowering their prices? Has the top executives tried taking a lower pay cut from the tens of millions they make every year? No? Then it's greed why they shut down.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
I'm glad to see some clarity in the media about EV sales. They are not declining in fact they are still growing. Just because automakers made unrealistic "projections" and there is slower growth than expected that is not the same thing as a decline. They should have expected normal growth not the bubble we experienced in 2022.
Exactly. Everything is back to normal. A lot of bubble burst…back to the slow and steady growth. Companies really overestimated their growth potential during the pandemic years
EV sales need to grow based on local demand. News flash, you're not going to see people trade their F150 WORK TRUCK for an EV. Period. What would really take off is an EV SUV or Van that move kids around town. Not many options for the soccer moms out there.
@@manoftomorrow5987 On side effect of being publicly traded is having to make projections and statements to keep the stock price up. It's not the way a company would normally be run.
Denial is not just a river in egypt. Go ask a dealer how e v sales are.
@@vasantos-re4hb Plenty of those available that's why the Tesla Model Y was the best selling vehicle in the world in 2023. For larger space the Kia EV9 and Tesla Model X are good choices.
I’m an EV owner and I love it, Most people I talk to are still uneducated when it comes to EV’s. They have lots of questions and don’t understand it’s a viable option nowadays. These are people with money to buy, they just don’t have the understanding of the technology.
Compared to EVs by Tesla and Chinese companies, EVs by 'legacy' manufacturers seem to be B Team efforts. They have spent money but they really haven't put the same effort that EV manufacturers have put in.
Nice reply.
It also 'legacy' Reaganomics thinking. 'We'll outsource everything', to save
Then why are you worried about chinese ev if customer demand is simply not there? You made it sound like an existential crisis but deep down you know the demand is there if it's cheap enough just that you are too greedy to do it
because the chinese manufacturers are paid by the state to sell cheap enough to bankrupt the western manufacturers. Not even they can't make cheap ev's at western standard.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Excellent point. Cybertruck and the Semi are both pretty neat products, but I'm waiting most eagerly for the model 2. An EV for the everyman. When solid state batteries come along, so many ICE arguments will fall apart.
I really liked the amount of data in this video. Often past videos could be very surface level, but I liked the insider data this provided.
First you gotta build EV charging infrastructure. You have to build the foundation before building the house.
That's what baffles me, someone manufactures something thats 20% useful & everybody just buyes it.
I feel like there's wayy too much consumers that don't think rationally & have generational money to throw at these companies.
And the media just catches on a wave & throws the propaganda they want to manipulate with.
they're saying VW will have to change something or they'll be out of business, but VW has so much resources they can buy all chinese EVs without a problem, look it up if you don't believe
That's definitely a factor, and they didn't bring it up. The Nov 2021 $1 trillion transportation bill provided money to build out a better national network of fast chargers, and it was supposed to take a few years to clear hurdles like finding land, getting permits, etc. Feels like we should have seen more of it by now though.
That's only an issue if you don't have a place to charge at home. I've had a Tesla for two years and I've used a public charger maybe 15 times. I basically couldn't care less about public charging.
@@45314400zack so you buy a car & now have to install a station in your house just to use the car.
Hmm i wonder how many people have the money to do that
Let me guess you also have a second car for outside city trips? Your partner probably has a car or 2 also?
Thats the point, consumerism doesn't bring convenience
@45314400zack Not having a home charger is a huge issue for a lot of people, and lack of public chargers creates range anxiety for a lot more. Glad it's working for you though.
I remember when people were roasting Toyota for spending more $ on EVs. i can tell you why. The infrastructure is nowhere close to supporting EVs maybe in California but not here in the Northeast where the majority of the US population lives.
I live in the Boston area and I'm doing fine with my Model Y. Never waited more than 10 minutes for a charger.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
@@someuser7501 Well then, problem solved, if things are good for you, then I guess all those pansies whining about lack of chargers were just lying.
Another example of comments made by 'experts' who only repeat what they heard someone say, not based on actual facts or their personal experience.
@geoffmika Not sure what planet NPAMike is on but Teslas are all over the place here in Massachusetts as the Model Y was the #3 selling car in Massachusetts in 2023 and we are the most populous state in New England.
It is simple. Make the price more affordable and people will buy. The automakers were hoping to make a ton of money off consumers. Please do not say the cost of EV modules is costly. I work for an EV module company and know the price we charge VW and Ford.
Again, Tesla is the winner!
The big boys are dying when they were supposed to destroy Tesla as short sellers wanted them too.
Yep! And now they are fuc%3d lol
@@theobserver3753 it’s just Darwin’s theory of natural selection.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
@@bobbyr8071More than likely, thus how many years till Tesla fold?
If the term stranded capital is defined as money that is tied up in investments that aren't yielding returns I'm thinking CEO pay is also stranded capital. 😁
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Agreed!
Any person with a realistic view of how to keep as light of an environmental impact as possible has retained their ICE vehicle and will continue to maintain them for as long as possible, and then purchace another second hand ice vehicle once the original dies. Lithium batteries can't be recycled, require unique mining in newly opened lands instead of existing mines, require many more unique materials not already in the manufacturing cycle, and blow up at a higher rate per capita than lead acid batteries.
People that buy evs for personal use are either doing it for the fashion statement or are self-righteous and short sighted 'environmentalists' that can't recognize we won't be able to CONSUME our way out of our environmental crisis. The atmosphere isn't the only thing that's being trashed, there are many areas on land that actually affect the atmosphere that we're destroying in the name of 'net zero'.
"require unique mining in newly opened lands" Yo, that's not a nice thing to say about North Carolina.
Pretty sure mining lithium is less damaging than making oil rigs in the middle of the ocean
Lithium battery cars 😂 are not the solution to the end of our planet everything has an end this companies CEO are living on a bubble not in reality
Funny how the narrative is pushed towards the "slowing down of EV's demand" myth all the time, mostly in a juvenile way. The reason EV is going slow in USA is poor structure with incredible high price. The land of the free with no competition. Places like Norway, Sweden, Netherlands and China are presencing exponecial growth and their combustion markets are shrinking. Even here in Brazil, where demand is low specially due poor structure, competitive prices are making EVs gain traction month after month.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Norway is over 50% electrified. They have the highest percent of EV's than any other country! Good for them!!
What do you mean by "poor structure"? If you are referring to charging infrastructure, virtually any house in the USA can have an EV plugged into it. Public chargers are not how most people charge.
@@daniels2761 Agree. But not rarely we see the media pointing out to ”structure” as it was public stations alone. In fact it's not about tangibles only, but how the public sees it. This narrative makes people think they won't be able to have an ev properly, travel, etc.
Anyway, sth about 70k public charges in US is still tiny vs more than 3 millions in China, so it's a big difference
Norway has practically banned the internal combustion engine. The buying public has had almost no say in it. And they're a petrostate.
Tesla's investments are paying off and they are selling their Model 3 for only 39k (and a lot less with tax credits). It's not EV's that are bad, it's traditional american auto company that sell bad cars.
Yes! Right on comment!
I generally dislike tv news and read my news but these videos from cnbc have been on point. Great info
Price too high, hard to find charger when travel long distance, sensitive to extreme weather (too hot/too cold), power outage=travel outage, low resale value, risk of fire.....so many things can go wrong so risk is bigger than benefit (gas saving, quick acceleration, quiet cabin).
I agree with charger specific issues/range issues, but risk of fire? Buddy what do you think gasoline is? Inert?
Yeah that EVs catch fires more than gasoline cars is an old disproved myth.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Not a problem if you own a Tesla
@@ksaboda Correcto!
The majority of EV's being produced are luxury vehicles and price is driving many away from EV's. We need smaller, more affordable EV's, and a goal towards increased efficiency (ie. more miles per kwh) to reduce the need for larger batteries.
Also, many neglects to mention EV's are only cheaper to charge with home charging. Without it, there's no real financial benefit to owning an EV. Most people won't pay more to produce less CO2.
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For me personally, EV vehicles are TOO EXPENSIVE. I paid $4700 cash for an ICE vehicle from 2010. I ain't paying $30k plus for ANY vehicle.
Walking is good for your health!
Ev's are for rich people. We don't have a robust powergrid to handle a massive switch over.
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Uh pretty obvious what is happening here. The brands that make unreliable cars are struggling. Go figure. Too many auto manufacturers are making overpriced garbage cars!
In a world where prices and inflation are high, a vehicle with a price tag that's $15K - $20K higher than the gas equivalent vehicle, has build and/or software issues (Tesla, GM, VW, etc.), that has a short/shorter range, plummeting resale value, is more expensive to insure, could require expensive home electric/charging upgrades, and relies on infrastructure that is often lacking, is obviously a non-starter for most people. The early adopters have bought their electric vehicle, and I hope theyre happy and enjoying them, but the average person isn't interested. It's that simple. And telling them that they'll break even in 10-12 years because of gas and maintenance savings isn't going to sway a public with an attention span of 2 minutes. I recently bought a midsized hybrid CUV that has excellent build quality, includes wireless Android Auto/Apple Carplay, gets 40 mpg, has 490-500 miles of range, and my insurance barely increased. And if I get in a minor accident, it can be fixed, not totaled, like most insurance companies are doing to ev's. When EV costs and charging times come down, quality improves, and range goes up, then I'll switch.
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The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
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A whole lot of hand-wringing and blame-shifting. Legacy auto companies make crappy and expensive EVs with terrible software. Legacy autos also outsourced everything and crippled their own ability to pivot on anything. They can barely change how a windshield wiper works without having to negotiate with 17 suppliers. Yes there are macro factors, but the lion's share of the blame lies squarely with the legacy auto companies themselves.
Nice and correct replay.
Before China became a big automobile producer I never heard of the phrase 'overcapacity'. Now that the West, Japan & South Korea are getting hammered in EV sales, now everybody and their father is screaming overcapacity. China has secured the EV supply chain and it's why they're more efficient in their production and we should do the same and compete effectively.
Nobody asked the public, you know, the people with the money, if they wanted EV’s.
The politicians thought they were the ones to decide.
Surprise !
People have said a hard NO on them.
And for good reason…
Just repeat and Rinse,
"EV sales are down, people want ICE cars"
HAHAHAHHAAA
You’re telling me ev platforms were cheaper to make and those savings weren’t passed on to consumers but instead received higher markups than the gas powered equivalents? Yea no wonder ev sales are dropping. Desire for profits is destroying the ev car market.
Wasn't CNBC just saying a few years ago that Tesla was the one that was going out of business and that they would NEVER get to levels of VW and Honda? Wow - I'm glad I never listened to CNBC.
See earlier reply about CNBC by GeoffMika
Norway consistently sees electric vehicles (EVs) make up 95% of monthly car sales, positioning the country to come very close to its ambitious goal of 100% zero-emission car sales by 2025. This success is driven by several factors: EVs are often more affordable than comparable fossil fuel vehicles, and the widespread availability of charging stations makes owning an electric car both practical and convenient.
Rest of the world is not Norway
Can we send Norway all the Chinese EV's 😂😂😂😂
I appreciate the thorough analysis, but Patrick Boyle made a compelling point about the government and investors' reliance on subsidies and statistical forecasts to gauge consumer demand. It's essential to pay attention to consumers' genuine needs and the practical aspects of the current EV infrastructure, such as charging time, compatibility of charging stations, and distance between charging points.
High labor cost and investors expecting high returns.
You forgot high salaries and bonuses for executives.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
High labor cost wasn't an issue before when people bought cars.
High labor cost? Well the solution to that is either import immigrants and pay them low or outsource :)
Maybe we should just stop forcing automakers to make EVs
what's your plan to reduce greehouse gas emissions so we have a chance of keeping temperature increase under 2°C by 2100? Land transportation is one of the easiest areas of the economy to decarbonize: just continue to build gigawatts of renewable electricity as every country is doing, and accelerate EV sales.
@@skierpagelol, you really drank the cool aid
@@mc368-e6c the exceptionally rapid increase in Earth's temperature over the pre-1975 average is a fact, and scientists know what caused it. You're the one denying science here.
@@skierpage if you die you Will reduce green house gas can that be a plan 😭
The oil cartel would love that.
It isn't difficult to figure out why EVs don't sell. When most of them cost at least twice as much as I've ever paid for a car, it is a hard sell. Plug-in hybrids are probably a better option for most people, and a decent compromise.
Hey dummy, do some research and dispel your wrong conclusions, please!
Sale the cars directly to the customers
Why?
@@BrunoHeggli-zp3nl because everyone hates the useless middleman of the dealer that does nothing but increase costs to the consumer. And dealers don't want to sell EVs because they don't need servicing and tuneups.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
I can do hybrid with a better range on battery. 🔋 but going full electric ⚡️ is a no go for me. I refuse to stand 30 min or more for a charging station aside from charging a car battery takes another 30 min. No thanks pass!
😂I spend half hour for a pump in a service station in 401 last thanks giving. And a 20 mins charge us not bad. Had a cup of coffin, that is it.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Ignorant reply
The U.S. exports 25% of the vehicles it produces, Japan exports about 50%, and Germany exports 80%, but China exports 10% and the U.S. and E.U. governments lose their collective minds. Apparently, only regarding China, it is "overcapacity" when they export vehicles.
Why auto makers are shutting factories?? Blame it on the fed for pumping dollars to create fake demand!!
EVs: 50-60k, guaranteed irreparable failure in 10 years.
ICE: 30k
Hybrid 35k, ~twice the efficiency of ICE
Hmmmm I wonder why EVs aren't selling
I’m not sure why this problem is so hard to understand. EV’s are all new cars and thus very expensive. Most people who can afford one have one already. It’s not a demand issue it’s an affordability issue.
Investor high expectations and wall street financialization are the main issue . Cost is not coming down.
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Just wait and see what Tesla has in mind. You will eat your words!!
@@geoffmika tesla will deliver the same car with better panasonic battery technology in 2030. 🤣
@@geoffmikapeople have been saying that for a decade and cars are very expensive
@@daniels2761 How long were cars only for the rich until Henry Ford made them affordable? All new tech takes time to work out the kinks and for this type of technology leap, a decade isn't very long.
I'm never going electric
Depending on how long you live...
They forgot just one thing we don’t want ev, we don’t want over complicated cars, we have winters, we have 45-60min commutes. Don’t tell us what we want
because delusional EV hype is coming back down to realistic levels?
Overevaluated garbage. I’m not paying extra to be fully tracked by my car 24/7
You can be tracked by any new car.
@@ryanwalker9599 That is one of the rasons I made the switch from a Silverado to a 12 speed bicycle and I don't carry a smart phone.
The phone is already taking care of that.
@@ronbelanger4113 yes it all is and guess what what we don’t need to add to the problem if it hits the fan I can at least start my car and drive where I need to go. Not worry if Elon or the electric companies have bricked my car
EV's for Hez Ebola 🔥🔥🔥💯 Pagers 📟📟 Too😂
All the dealerships are selling nothing but the most expensive versions of vehicles. Ford doesn’t even make regular cars anymore, ford and Chevy both only make 4dr big trucks, or SUV with all the options. There are people that can’t afford all that and want just a vehicle not a 40k vehicle nobody can afford
Tesla is coming
BECAUSE EV is not better for the environment, and in most situation less practical cars.
Another ignoramus
@@geoffmika another greenwashing environmental hypocrite.
Tesla is doing well though
No they dont!
@@BrunoHeggli-zp3nl yes they do. Look up #1 selling car in the world (WORLD)
@@BrunoHeggli-zp3nlthey are literally the number one ev maker in the market they are in exp china
@@BrunoHeggli-zp3nl Tesla has the second best selling car in US behind rav4. This hasn’t happened in decades that somebody is beating f150.
Tesla Visible From Space, Tesla is like Yahoo,EV Bubbles Ready to Burst 🔥🔥🔥
BMW i5 - when the car is turned off, if you try to hit the illuminated unlock button on the door, nothing happens. i cannot unlock the passanger door to let a passanger inside. so, if i cannot use the lock and unlock buttons whenever i want, i am not buying the car. very simple.
electric cars also don't seem to like to "idle" - when the car is parked, i open and close the door to get in and out, while keeping all accessories running. its a nice feature in HOT weather, that modern cars have eliminated.
i want to be able to CONTROL my car, not the other way around.
electric cars - no thanks
CNBC REALLY HATE EVs
Byd
TESLA IS THE ONLY PROFITABLE EV COMPANY!!! BUT, DUE TO HIGH INTERTEST RATES, ALL AUTO SALES ARE DOWN. NOW THAT INTEREST RATES ARE DROPPING, THINGS WILL EVEN OUT AND TAKE OFF AGAIN! Tesla WILL EVENTUALLY DOMINATE EVERYTHING!!!
Dealers screwed buyers during the pandemic, and now they are paying the price! Dealer markups screwed a lot of customers 😮.