Oversupply? Are EV’s struggling to sell?

[Auto Motive]

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.

It worked. We own a GTPE and in late Apr bought are 2023 model Y. Excellent choice price, tech, safety pack pkg, supercharging 150 miles in 15 minutes. So far 300 miles range at 65 mph highway. Only con no android,

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[Mach1E]

It worked. We own a GTPE and in late Apr bought are 2023 model Y. Excellent choice price, tech, safety pack pkg, supercharging 150 miles in 15 minutes. So far 300 miles range at 65 mph highway. Only con no android,

Lol how many times are you going to post this same infomercial on the model Y?

Must be an alert you set up…….” Did someone say Tesla? Excellent car! Here is a list of features and how much range it gets!!!” ?

If you go 65 on a highway around here, prepare to be honked at!

 

[ARK]

There does seem to be a surplus right now and it’s not just the Mach-E. Lots of inventory with Kia and Hyundai EVs too now, and wait times have collapsed for all Tesla’s and the Rivian truck, and Lucid has a bunch of inventory too.

 

[HuntingPudel]

<SNIP>
Most normal people would take an ICE vehicle. I am not normal. Most of the abnormal people have already purchased a BEV, I think.

Mike, are you saying we’re “Abbie-something or other?” ??

 

[RWG]

As an adult car buyer for over 50 years, I have watched the markets go up and down for decades. What we are now seeing is not new. As I see it, what is happening is normal and to be expected.

In the last 2 years, EVs were in short supply and the added complications of COVID and the Supply Chain problems just made the situation worse. In addition, our capitalistic economics of Supply and Demand drove up the prices, dramatically. Now all of the EV manufactures have worked out the Supply Chain and production issues, and supply is exceeding demand, as such prices are dropping. Couple these realities with "range anxiety", high interest rates, and now news of better Solid State batteries, the next wave of potential buyers is going to be a bit more selective and maybe hesitant to buy.

Let's get real, all of us that bought EVs in the last 3 years knew we were "first movers", on the "bleeding edge" of technology. We took the risk, bought these things, and everyone of us should have known, an early EV is just like an early laptop or cell phone, i.e. technology will move fast and much of the technologies in a 3 year old EV today will be considered "obsolete" in 1 to 2 years. This is why our 2021 Mach e will not be with us by 2025. It will be gone, sold, traded for something else with the latest technology. I can buy an equivalent used 2021 Mach E with 5k miles on it and lots of remaining factory warranty for $20k less than I paid for the one I got and I won't have to wait 7 months for it.

For us, yes we paid too much, but we don't care, it just means our kids get a little less inheritance. As soon as we get comfortable with the next EV offering, regardless of manufacture, we will make the change.

Life goes on. . . . . .

 

[Logal727]

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.

I'm really worried about the toilet paper industry.

 

[Logal727]

There does seem to be a surplus right now and it’s not just the Mach-E. Lots of inventory with Kia and Hyundai EVs too now, and wait times have collapsed for all Tesla’s and the Rivian truck, and Lucid has a bunch of inventory too.

It's almost like supply picked up with slowing demand... hmm.. math

 

[Hammered]

Let's get real, all of us that bought EVs in the last 3 years knew we were "first movers", on the "bleeding edge" of technology.

I wouldn't go calling the sync 4 system with a 8 year old silicon bleeding edge. It's galaxy s7 bleeding edge ?

 

[Blue highway]

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

https://www.businessinsider.com/cheap-chinese-electric-cars-will-upend-the-us-vehicle-market-2023-5

Polestar is already here

 

[voxel]

There does seem to be a surplus right now and it’s not just the Mach-E. Lots of inventory with Kia and Hyundai EVs too now, and wait times have collapsed for all Tesla’s and the Rivian truck, and Lucid has a bunch of inventory too.

This.

There's zero wait for the R1T. I saw 600+ in the shop when I was granted access in June. R1Ses are still rare.

Kia and Hyundai are aggressively incentivizing their EVs and Hyundai sold 4300-ish in June which is almost as many Lightnings in a quarter. Hyunda/Kia are offering $10-12K in discounts/rebates now.. loyalty bonuses around $2500-$3000 along with the $7500 lease incentive plus dealer discounts.

 

[timbop]

Mike, are you saying we’re “Abbie-something or other?” ??

Great movie!

 

[phil]

I will never buy another ICE...

Will you still qualify as a grease monkey?

 

[phil]

There does seem to be a surplus right now and it’s not just the Mach-E. Lots of inventory with Kia and Hyundai EVs too now, and wait times have collapsed for all Tesla’s and the Rivian truck, and Lucid has a bunch of inventory too.

It's not just EVs, it's all Vs.

https://finance.yahoo.com/news/car-market-prices-plummet-due-153706713.html

 

[moparguy]

After owning few EVs including two Mach Es, I am on the fence, I am in the market now for a new car, would let go of my Mach E, going back to ICE, I like to drive a lot, I can't take my $50k car to Phoenix or Vegas, can't really do a road trip ( I am not gonna add 1.5 hours to my 5 hours ride ) just to keep charging, for the price of my previous Mach E GT, at that time, I could've bought a C7 Corvette and Prius, which would have made so much sense, I have a few friends who are coming to the same conclusion, I literally helped 10 friends buy Mach Es from my dealer, only 3 of them kept the car till now, majority traded it for a Tesla Model Y, performance, ride quality and fast charging was a no brainer so I would imagine more people are doing that and that's why Mach E and other EVs are struggling to sale.

 

[Mach1E]

We took the risk, bought these things, and everyone of us should have known, an early EV is just like an early laptop or cell phone, i.e. technology will move fast and much of the technologies in a 3 year old EV today will be considered "obsolete" in 1 to 2 years.

What makes you think the timeline is even remotely close to this?

This isn’t 1997…….when computers were doubling in speed every year.

Not even close.

This also isn’t even that new of technology. Electric cars and all the basic components are as old as……. Cars (over 100 yrs).

Even the bleeding edge tech company (Tesla) hasn’t come up with anything substantially new in the last decade.

What significant difference does a 2023 Model S have that a 2013 Model S didn’t?

2026 BEVs are likely to be extremely similar to 2023 ones. Except maybe they’ll give us a nice shade of blue that’ll make me want to trade up. ?

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