The EV Car Market Is COLLAPSING As DEALERS & CAR COMPANIES Are SCREAMING IT!
The E Market has shown remarkable growth in the last few years but there are some pretty big concerns over its potential vulnerability to a crash supply chain issues wavering government incentives and the inability of automakers to make EVS profitable are some of the things that come to mind first stay with us and
Take a look at these six indicators which all suggest that the massive EV car market crash has already begun number six dealers are running away from EVS the growth of the EV Market has been slowing down for a while and dealers are not happy with that compared to last year the number of
Dealers that have EVS in their offer went up but that didn’t improve their business moreover they feel like their money has been trapped because according to last Summer’s data about 92,000 EVS were sitting in dealers Lots which was a 342 increase compared to the summer of
2022 when only 21,000 did so in other words EVS are much harder to sell on average dealerships need 92 days to sell their electric vehicle which is significantly more time than 60 days which is considered normal according to experts the market is still growing but it looks like the rise in production is
Just out stripping the rise in demand salesmen are particularly unhappy with EVS because selling an electric car takes much longer than selling a gas powerered car according to buzz Smith a former Chevrolet car salesman Who currently works as an EV dealer trainer a gas vehicle usually takes a single
Visit and no more than an hour to sell with electric cars it’s usually four visits an hour each and before a customer decides on an purchase in other words a Salesman is volunteering to take a 75% pay cut and no one wants to do that and with all that in mind the
Recent letter sent to President Biden signed by nearly 4,000 dealers from all 50 states seems like a logical outcome here’s just one tidy part of that letter that says these vehicles are ideal for many people and we believe their appeal will grow over time the reality however
Is that electric vehicle demand today is not keeping up with a large influx of bevs arriving at our dealerships prompted by the current regulations BS are stacking up on our Lots in other words dealers are also recognizing EVS as a great Prospect for the future but the current stall is a clear indicator
That the government needs to relax on the proposed regulations and have more patience because American car buyers definitely need more time to become more comfortable with the idea of purchasing an electric vehicle number five massive discounts on EVS with the EV sitting at dealer lots for months and the salesman
Having a hard time selling it doesn’t surprise that many dealers are now giving massive discounts which is yet another indicator that the EV market crash could happen soon even the world’s most renowned EV company Tesla has been steadily slashing prices for a long time including the two most popular models
The model 3 and model Y the former is now 177% compared to what it cost in 2022 the blue oval company is no different considering that you can find the all electric F-150 Lightning cut up to $10,000 of the sticker price which only confirms our thesis that truck
Drivers will be the last one ones to adopt electrification the situation is no different among other car makers so we can see Toyota’s first EV the Bez 4X around 10% cheaper compared to the same period last year Kia dealers are having the same problem while Chevy even offers
A discount on the bolt EV an established electric car that’s been around for years and has been making quite respectable sales numbers if we look at the EV Market in total just a year ago the average EV purchased would go $1,500 over MSRP today an average EV goes $2,000 under the recommended price
That’s a pretty clear indicator that the market is stalling simply said early adopters have already purchased their latest high-tech wonders while an average American Car buyer is still finding gas powered cars way more interesting even though dealers have also found a quirk in tax law to make EVS more affordable namely even though
Many EVS aren’t eligible for tax credits it turns out that most restrictions drop if a vehicle is leased how much this helps in the overall EV growth is hard to tell at the moment number four car makers are pushing out Investments even even with massive discounts EV growth is
Still far from what most car makers were projecting for that reason most of them are forced to change their plans so far the business model was pretty simple most of the investment money was coming from the profit made on internal combustion cars however car makers also expect EVS to start bringing profit at
Some point but that’s not happening automakers still haven’t figured out the economics and still can’t make EVS profitable the new technology is still expensive sales numbers are still low and there’s also the issue called production optimization the result is is that EVS are still expensive to make so
Most companies are still losing money on every EV they sell with EV production outpacing the demand significantly it isn’t a surprise that many companies have decided to slow down with EV development for example Ford already announced that1 billion of eveve investments will be delayed General Motors also decided to delay several
Major projects including the production of the all electric Silverado which is one of the biggest prospects for the future a model that is about to gradually replace GM’s most popular pickup truck now it looks like production won’t start before the last quarter of 2025 another major EV project
Has been delayed the production of the new electric drivetrain unit which was initially planned to start in the first quarter of this year according to latest reports the toled plant won’t start production before the last quarter of 2024 number three US government is still pushing EVS hard the US government is
Still pushing EVS extremely hard with a plan that’s designed to ensure that 2/3 of new passenger cars sold are all electric by 2023 at the moment only 5.8% of new cars and less than 2% of trucks are all electric you don’t have to be an
Expert to see that this plan was way too ambitious the problem is that the government doesn’t have a sense of transition which needs way more time President Biden already promised to cut the nation’s emissions in half by 2030 and the only way to achieve that is to implement much higher emission standards
At the moment both consumers and manufacturers show great resistance for consumers things are pretty simple e are expensive they depreciate a lot and the charging network isn’t good enough with automakers the problem is much deeper because even though they’ve already invested billions in electrification there’s much more that needs to be
Invested with the proposed regulation and aggressive timeline they’ll have to stop manufacturing gas powered car suit meaning there will be no money to invest another challenge is the current situation regarding global politics China is the world’s largest ev manufacturer and more importantly has control over most resources that are
Used for Batteries which are already difficult to obtain number two price depreciation owning an EV is problematic for many reasons so it doesn’t surprise that their price depreciates way faster compared to gas powered cars on average electric cars lose around 50% of their value in just 5 years for example the
5year depreciation of the Tesla Model S is 55% while several more models including the Tesla Model X Nissan Leaf and Chevy bolt lose 50% of their value in just 5 years in other words it’s very hard to sell a used EV these days potential buyers are mostly afraid of repair costs particularly batteries
Because even a smaller Collision can damage them and require a repair that costs thousands of dollar in some cases the whole battery needs to be replaced which can sometimes cost more than $115,000 regular maintenance is also more expensive than with gas powered cars even though the theory suggests the
Opposite in reality the tire wear is much faster due to the additional weight moreover latest studies show that EVS are way more unreliable than internal combustion cars causing 80% more problems on average finally there’s the cost of insurance which is notably higher due to more expensive repairs higher sticker prices and other factors
Number one consumers don’t want EVS all these things we’ve been talking about lead to a conclusion which is also the key reason for the potential collapse of the EV Market people don’t want electric cars some of them are very conservative but most are just rational at this
Moment buying an EV simply doesn’t make sense for a vast majority of drivers across the states first of all they’re way more expensive than gasp powered cars second it turns out that EES are less reliable and cause more problems than IC cars even though most experts were suggesting the opposite along with
Higher Insurance reliability issues make EVS more expensive to own while there’s also the matter of convenience most consumers live in artment don’t have a garage or simply don’t have conditions to charge EVS at home on the other hand the network is still far from perfect as there are not enough Chargers both in
Rural and urban areas until all these things change people won’t accept EVS no matter how hard the government pushes moreover if Biden’s Administration continues with overoptimistic plans rather than letting the transition go at a slower we would say natural pace we could easily see a massive EV market
Crash in the near future thanks for watching and see you next time
The EV Car Market Is COLLAPSING As DEALERS & CAR COMPANIES Are SCREAMING IT! The EV car market is collapsing and you won’t believe why! In this video, we expose the shocking truth behind the electric vehicle industry and how dealers and car companies are screaming it from the rooftops. The EV crash has begun, and its ripple effects are massive. You’ll learn about the hidden costs, the environmental impacts, and the consumer backlash that are threatening to destroy the EV dream.How will this affect the future of transportation, the environment, and your wallet? How GM CEO and Ford CEO react to this? Tune in to navigate the twists and turns of this EV crisis. Don’t miss this eye-opening video that will change the way you think about EVs forever!
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