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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.


Get tested, get screened--it saved my life, it could yours too! Remember, tomorrow is promised to no one...

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