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EV sales aren't tanking...

Posted by dark_dave56 (A) on May 4, 2024 at 02:28:46

In Reply to: EV sales are clearly tanking posted by E-Stat on May 3, 2024 at 07:30:47:

...in fact, they are continuing to grow, but not at the rate anticipated or forecast by the global auto industry.

For Tesla--the party's over. The slice of the pie (EV sales in the overall auto industry sales numbers) IS still growing, but not getting as big, as fast as was hoped-for. Adding to that are the number of players fighting for their share of that small piece of the pie.

For over a decade, Tesla had faced very little "real" competition in the EV market. They never operated in a "competitive mode" because they faced little to no competition. Fueled by gov't incentives/investments, and private-sector investors, Tesla focused on R&D/innovation, and priced their vehicles at whatever price the market would bear. They (smartly) invested in a global charging network to service their customers.

Now they are facing actual "serious" competition from not only new start-ups, but also a lot of "legacy" auto manufacturers. Gone are the days of being "the only game in town", to having to focus on operating costs and profits--actually competing for and accounting for every dollar spent.

If you hadn't noticed, every new start-up and EV-program under the legacy auto manufacturer umbrella has promised to be/offer a "Tesla-killer" product. Tesla was both a benchmark and a target.

Gov't mandates/targets (globally) for EV-adoption enticed the "big-boys" to invest billions into what they thought was going to be the "future" of the auto industry--and followed in Elon's footprints of "cost-is-no-object" development/manufacturing/pricing.

Other than the Chinese, no one has introduced a cheap, daily-driver EV. Tesla is feeling the pressure of competition and "trimming the fat" of bloated corporate structure--they're not imploding. Ford, GM, and many others, are reducing production and/or suspending development and investment in EV projects to mitigate the amount of red ink on the ledger.
They over-produced and over-priced their products--now they are sitting on lots, waiting to be purchased.

I've owned a Tesla Model S, and Evelyn and I now both currently have M-B EQS 580 sedans. We're not opposed to EVs, BUT--these are pricey (but very nicely appointed) vehicles, not geared for the average consumer.

Our EVs serve us well--even on longer trips. Both have nearly 400 mile range, and can charge rather quickly. But EVs have a long way to go before everyone can/will own one.


"And today is for sale and it's all you can afford. Buy your own admission. The whole things got you bored. Well the Lord chooses the good ones, and the bad ones use the Lord"--a very dear friend for decades Michael Stanley (Gee)--RIP

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