Oversupply? Are EV’s struggling to sell?

[MuckyMach-e]

I’m reading more and more about how EV’s including the Mach-e are piling up on dealers’ lots with not enough buyers. The evidence in the UK is clear as there are now so many new Mach-e’s available immediately. I’m sure part of the problem is that Tesla’s price reductions have not been matched by Ford leaving a huge disparity between the brands in price but not performance. The cost of living crisis isn’t helping either.

I think this is going to be a significant problem for Ford and other EV manufacturers over the next 12 months and that’s before the Chinese EVs arrive in large numbers. This article gives an indication of the problem and notes that some dealers are turning down their allocation of the Mach-e.

https://apple.news/AYlHBkqh3TfCqj2T1ybbemg

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[AKgrampy]

I’m reading more and more about how EV’s including the Mach-e are piling up on dealers’ lots with not enough buyers. The evidence in the UK is clear as there are now so many new Mach-e’s available immediately. I’m sure part of the problem is that Tesla’s price reductions have not been matched by Ford leaving a huge disparity between the brands in price but not performance. The cost of living crisis isn’t helping either.

I think this is going to be a significant problem for Ford and other EV manufacturers over the next 12 months and that’s before the Chinese EVs arrive in large numbers. This article gives an indication of the problem and notes that some dealers are turning down their allocation of the Mach-e.

https://apple.news/AYlHBkqh3TfCqj2T1ybbemg

It does seem to be the case or at least something to see how it continues to develop. Especially here in the States with many new EV’S being released in the next model year.

 

[mkhuffman]

I am not surprised. BEVs are more expensive than the equivalent ICE vehicle. You can't make the car maintenance savings a benefit when the entry cost is so much higher.

And most people know highway traveling in a BEV requires a lot of stops, and a lot of charging. They may not fully understand how much that sucks, but many do. I tell my friends who ask about it. If you can always charge at home, it is awesome, way better than ICE. But as soon as you travel too far from home to make it back, it sucks. And it is getting worse.

I am doing a triathlon on Saturday, and it is a two-hour drive from my home. There is literally only one DCFC on the way, a 50 kW charger at a GM dealership. Seriously. One charger at one location. Oh, there is a L2 Tesla destination charger at the race location, but am I really going to park at a hotel, miles from the race, and steal electricity from that business? Assuming the EVSE is available, of course. Which it probably won't be.

Luckily that two hour drive is only 94 miles, so I should be able to make it there and back on one charge. Still. Most normal people would take an ICE vehicle. I am not normal. Most of the abnormal people have already purchased a BEV, I think.

 

[Logal727]

I briefly looked around me for any on the lots and not as many as I expected. I see more and more Mach-E drivers around here though. YMMV.

 

[Hammered]

Interest rates are strangling all parts of the economy, and the 7k tax incentive is poorly executed. It's the equivalent of a govt run mail in rebate.

 

[GreaseMonkey]

OEMs need to do a ton of education about what EVs are and are not so customers can make informed decisions. In the short-term I do think it is driven by the price disparity between Tesla and everyone else. I anticipate being in the market for a new car soon. I will never buy another ICE, so checking out various options and test driving some. There is little chance I’d end up with anything but a Tesla despite having 3 lovely ladies in my household who swore they’d never ride in it (anti-Musk, not Tesla).

 

[AKgrampy]

Mentioned in many places is that quite a bit of inventory is in transit. That is why I am interested to see what develops over the next several months. The increasing cost of electricity in many places and inability to charge at home also makes the EV less attractive.

 

[Logal727]

OEMs need to do a ton of education about what EVs are and are not so customers can make informed decisions. In the short-term I do think it is driven by the price disparity between Tesla and everyone else. I anticipate being in the market for a new car soon. I will never buy another ICE, so checking out various options and test driving some. There is little chance I’d end up with anything but a Tesla despite having 3 lovely ladies in my household who swore they’d never ride in it (anti-Musk, not Tesla).

there's many better options style-wise than a Tesla though, I'd jump to an EV6 before I got a Tesla that looks like every car on the road, even with the price difference... also no CarPlay, which is a deal-breaker for the wife and also myself.. personal preference

 

[SpaceEVDriver]

Pundit spin is hilarious to me. Last year EVs were failing because there weren't enough on lots. Now EVs are failing because there are EVs on lots.

 

[Jferrari427]

I think that EVs are very much so in the discovery phase. The higher entry cost of an EV is the main deterrent. Lack of infrastructure is also the other problem.

For EVs to go super mainstream prices need to come down, chargers need to be everywhere and super fast (think zero to full charge in under 7 minutes). When this happens I’d be willing to bet EVs will become super mainstream.

We’re looking at probably 5-7 years away maybe more. The tech is evolving quickly, and adoption will follow. But we’re not there yet.

 

[Blue highway]

two things are true at the same time.
1) Total EV sales are growing essentially everywhere on the planet
2) There are a bunch more competitors with EV cars to sell now vs a year ago... Next year will be crazy because the potential supply of new EVs is going up substantially. I expect that most manufacturers will be disappointed with their EV sales, while the total EV market share will continue to grow... again.

the pie is growing slower than the number of new EV cars available.

According to the registration data from Experian (via Automotive News), the total number of BEV registrations during the first three months of 2023 amounted to 257,507, which is 63 percent more than a year ago and about 7 percent of the total market (up from 4.6 percent in Q1 2022).​

​

For reference, the total number of light-duty vehicle registration amounted to 3.69 million (up 8.4 percent year-over-year).​

https://insideevs.com/news/667516/u... the registration data,4.6 percent in Q1 2022).

 

[RickMachE]

I am not normal. Most of the abnormal people have already purchased a BEV, I think.

Two solid facts.

?

 

[Blue highway]

I think that EVs are very much so in the discovery phase. The higher entry cost of an EV is the main deterrent. Lack of infrastructure is also the other problem.

For EVs to go super mainstream prices need to come down, chargers need to be everywhere and super fast (think zero to full charge in under 7 minutes). When this happens I’d be willing to bet EVs will become super mainstream.

We’re looking at probably 5-7 years away maybe more. The tech is evolving quickly, and adoption will follow. But we’re not there yet.

Never say never, but I don't believe we will put the better part of 100kWh of energy in a car in <10 minutes on a wide scale real soon. I think the future looks a lot more like today than we want to admit... albeit with many more places to charge.

 

[Mach1E]

You can build them, but you can’t make people buy them.

Just wait until all 45 new crossover BEV models hit the market in the next few years.

That’s right…… 45 competing models from various manufacturers all at the same time trying to go after the same small target market.

And we wonder why Tesla slashed prices?? Trying to put a corner on the market before everyone else gets here.

 

[Auto Motive]

I’m reading more and more about how EV’s including the Mach-e are piling up on dealers’ lots with not enough buyers. The evidence in the UK is clear as there are now so many new Mach-e’s available immediately. I’m sure part of the problem is that Tesla’s price reductions have not been matched by Ford leaving a huge disparity between the brands in price but not performance. The cost of living crisis isn’t helping either.

I think this is going to be a significant problem for Ford and other EV manufacturers over the next 12 months and that’s before the Chinese EVs arrive in large numbers. This article gives an indication of the problem and notes that some dealers are turning down their allocation of the Mach-e.

https://apple.news/AYlHBkqh3TfCqj2T1ybbemg

Chinese are not coming to US. Price war heading to bust open end of Aug or sooner.

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