Donald Trump Just Killed the Future of Electric Cars
In just 5 Years From 2017 to 2022 Global EV sales grew 10 times I’m talking a colossal jump from 1 million to over 10 million units sold worldwide at first glance EVS may seem more popular than ever but here’s a Dooms Day prediction EV sales may see a major drop because of
The upcoming election today we’re looking at the correlation between US presidential elections and Car Sales we’ll also see what car Giants are forecasting for the future of EVs and whether or not this is good news for gas powerered cars and stick around till the end of today’s video to see how Chinese
Smartphone maker Huawei is making its entry into the EV world deltis is currently moving forward with its D forward 2030 plan this is the plan where stalon is committed to reach 100% battery electric vehicle sales in Europe and 50% in the US by the start of 2030 but recently stellantis is also
Forecasting dark clouds on Horizon CEO Carlos Tavaris said that Eevee adoption may be about to shift into the slow lane he gave a statement outside of stellantis Mira fiori planned in Italy where he explained that public opinion is currently shifting away from Eves and may end up slowing down overall EV sales
In the future in his opinion this may largely be influenced by the upcoming European parliamentary elections in June and the November elections here in the US because of these elections see a shift in politics which will trickle over into the EV industry depending on how the elections go we may see an
Unfavorable political climate towards EVS that would especially be the case if CO2 regulations get rolled back and that’s why Stanis has already begun preparing plans for these possible new conditions it makes you wonder just how much a presidential election can impact an industry specifically the EV industry yes it’s true our presidential election
Is still many months away but we can already see the political climate isn’t painting a very positive picture when it comes to pushing Mass EV adoption it’s not just delis that’s talking about politic Shifting the car industry so is Ford Motors back this past October Bill Ford who is the executive and great
Grandson of Henry Ford admitted he never thought he’d see the day when Ford’s products would be so heavily politicized although I just had a random flashback of Biden test driving the Ford F-150 Lightning when it first came out in the press that went with all of that anyway
The question is what exactly is the correlation between US presidential election and Car Sales let’s break it down first of all elections are notorious for spreading economic uncertainty across the country reason is consumers don’t know what’s in store for the future the uncertainty influences mainstream consumer purchasing behavior
And many actually hold back from making big purchases like a new car for example especially in the weeks leading up to the election then usually after the election there’s a seismic jump and sales after all who knows how a change in administration may affect taxes interest rates employment and so forth
True not all these changes come immediately after an election it usually takes time but it’s these long-term impacts of postelection time that can end up being the most significant just recall how Obama created the Affordable Care Act now known as Obamacare but then incoming president Trump tried to repeal
And undo all that of course he failed to do so at the time more recently Trump said he’ll renew efforts to replace Obama care if he gets reelected the point is when presidents change so can US policies and as far as cars are concerned just think of the fuel efficiency standards EV subsidies
Tariffs and so forth just take a look at what happened during the 2016 and 2020 presidential elections and maybe you can see a pattern in general during the weeks leading up to each election sales of new cars fell in fact that’s why before the election many dealerships pushed out election year discounts to
Try to boost sales data shows that car aggregators marketplaces and new and used car dealerships saw significant jump in perspective buyers after election day one caveat of course is that this is historical pre-pandemic and pandemic data so now that we’re post pandemic and our country is in a
Different state who knows how things will turn out during the 2024 election period here’s what we do know the fact is EV sales have been slowing down for some time now EV inventories have increased by 56% from a year ago I mean Eves are piling up across the country on
Average it was found that EV sit in the market for 82 days put that in perspective gas powered vehicle stood in the market for 64 days in August 2023 it took about twice as long to sell an EV in the US as it did the previous January
So the question is why are EV sales slowing down when there are more EV incentives than ever before actually there’s a few reasons now don’t get me wrong EV prices are dropping remember Tesla’s massive price Cuts back in September but here’s the thing even with these price cuts and tax incentives EVS
Are still too expensive for the average Joe sure people are concerned about an E’s battery range also known as range anxiety but the high price of EVS is the top concern for most consumers even with all the price Cuts we’ve seen these past couple of months the everage EV price
Back in October was still 28% higher than for a gas powered vehicle and that’s just a sticker price then you throw in all the cost to come with actually owning an EV EV Insurance costs more and and home chargers cost money installing one at home charger can set
You back up to two grand up front data shows that the first five years of owning an EV is also higher compared to owning a gas powered vehicle last February 2023 EVS cost consumer an average of $5,250 during the first 5 years of ownership whereas gas power vehicles cost owners
$56,950 during that same period now you might be thinking but aren’t EV maintenance costs cheaper at first sure but because EV s are a lot heavier than gasped Vehicles chances are you’ll be running through your tires faster and need to buy new tires a lot more often batteries aren’t cheap either if you
Later encounter problems and you need a replacement some are over $20,000 but Sky High purchase price and maintenance costs aren’t the only thing slowing down EV sales one survey found that 77% of Americans are worried about the lack of EV charging stations you can’t blame them since the national
Charging network is still in its early days 73% of those service worry about EV battery life on top of that 57% said it wasn’t likely that the next purchase would be a fully electric vehicle or even a plug-in hybrid EV sales have also slowed because consumers are generally
Unfamiliar with EVS the more unfamiliar something is the longer it’ll take to warm up to it sure Tech lover and early adopters couldn’t wait to get their hands on an EV despite initial limited supplies and high prices but now that the first wave of buyers have passed and
Car brands are left with the rest of mainstream America I’m talking about the average Joe here also consider the fact that EVS typically have a poor depreciation record last year the average used EV price saw almost a 20% drop drops like this scare away consumers from buying because they have
No idea how well their EV will hold its value if and when they decide to sell it later down the road I recently saw one yearold Volvo electric cars sell for as little as $25,000 with $15 ,000 mil on them and understand the original list price was over
$60,000 now when it comes down to it switching over to an EV is a lifestyle Choice an EV simply doesn’t fit everyone’s lifestyle at least not now if you drive an EV you need to be able to keep your driving trip short you have to have EV Chargers nearby and you need
Time to charge your car too if you’re able to use a DC fast charger that’s significantly decreases charging time but realize it will also shorten the lifespan of your battery that’s why Stanis is preparing in case EV sales continue to fall if you don’t already
Know stallis is made up of 14 Brands and two Mobility arms a bar alphaa Chrysler Citroen Dodge DS automotives Fiat Jeep Lancia Maserati opal pujo Ram foxa free to move and lisus actually the stallonus group was only established in 2021 it’s actually a 50/50 merger between Fiat Chrysler automobiles and Poo’s parent
Company the PSA group if you look at the top 10 largest vehicle in the US by market share stanus rates is number four since we’re talking today about the EV climate guess where Tesla lines up believe it or not it’s the ninth largest vehicle maker in the US by market share
And the number one spot is GM which owns 177% market share Toyota comes close with 15% followed by Ford which controls 14% anyway sales of EVS might be waning but competition is not new players keep joining the EV game for example many people haven’t heard of Lux seed but I
Bet you probably heard of Huawei the smartphone brand that’s under us sanctions Huawei has made a name for itself as a tech giant but in recent times it’s been crippled by us export restrictions and is not allowed to Sal smartphones on us soil lued is oneway Huawei is ambitiously trying to make a
Comeback it’s a joint venture by WWE and Cherry Automotive China’s largest passenger car exporter recently lued launched its first electric sedan it’s called the luxed S7 it’s priced at 35,200 bucks and it’s in intended to take on Tesla if you look inside the S7 you’ll find a powerful high voltage
Battery pack that was apparently designed to surpass Tesla’s Model S and every specification whether or not that proves true is yet to be seen but where the S7 does have the edge over Tesla is when it comes to charging the S7 uses 800v platform specifically the 800v volt
Battery pack made by the Chinese EV Battery Giant I’m talking a super fast 267 M charge in just 15 minutes Tesla on the other hand doesn’t use an 800 volt platform at least not yet that said Tesla does currently have a strong supercharger Network across China so it
Still holds its own in that country but Tesla has a huge price disadvantage Model S in China is priced at 98,500 bucks which is astronomical compared to the Lux seed S7 which is way more affordable at just 13d of that cost the S7 can apparently Accelerate from 0
To 60 and 3.3 seconds interesting Huawei is aiming to draw more female consumers with the Lux seed S7 that’s why the EV has unique features like a dedicated place to store high heels it also has a designated Cosmetics drawer and a mirror for touching up makeup which in my
Opinion is fine as long as it doesn’t encourage people to do their makeup while they’re driving yes I’ve actually seen people do this locally here and I’m sure you have too lexed may be why alwayss latest car brand but it’s not its first actually it’s a second
Following the brand Ito if you think about it we’re talking about a smartphone maker and Tech Giant that’s made its way into cars since these EVS are part of huawei’s Harmony OS system you can see its self-preservation and symbiotic strategy behind it kind of reminds me of how Apple’s been working
On an Apple car project except the difference is we still haven’t heard much updates about it Stateside from Apple but now you tell me is the upcoming presidential election causing you to hold back from buying a car please share by commenting below if you like this video please like share and
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Electric car review. Donald Trump Just Killed the Future of Electric Cars, DIY and car review Scotty Kilmer. Electric car review. Worst electric car to buy. Buying a new electric car. Buying a used electric car. Should I buy an electric car. Why electric cars are hard to work on. Why not to buy a electric car. The truth about owning an electric car. Car advice. DIY car repair with Scotty Kilmer, an auto mechanic for the last 56 years.
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