Electric Vehicles

[Iron Lung Jimmy]

Originally Posted by BuckeyeROC

3,882 Car Dealerships Ask Biden To Ease Throttle On EV Push

https://gmauthority.com/blog/2023/11...le-on-ev-push/

Representing all major brands that have operations across United States, the letter is composed of a total of 3,882 car dealerships voicing their concerns over the current push for EVs. In the letter, the dealers state that there is simply not enough demand to justify the influx of electric vehicles on their lots, which is creating a backlog.

Originally Posted by bigd1276

Auto dealers call on Biden to hit brakes on unrealistic, unachievable electric vehicles mandate

https://www.msn.com/en-us/autos/news...te/ar-AA1kNtj9

Waiting for Martinjlm to spin...........

The auto dealers wrote that “the supply of unsold [battery electric vehicles] is surging, as they are not selling nearly as fast as they are arriving at our dealerships—even with deep price cuts, manufacturer incentives, and generous government incentives.”


3,882 is over 20% of the new car dealerships in the U.S.

[olrocker]

If there was any question EVs will never be more than a niche outlier in the automotive industry, here’s your proof. GM’s buying back $10b in stock with finances saved by scaling down future EV investment:

https://www.msn.com/en-us/money/comp...69fd2263&ei=11

[Martinjlm]

Originally Posted by olrocker

If there was any question EVs will never be more than a niche outlier in the automotive industry, here’s your proof. GM’s buying back $10b in stock with finances saved by scaling down future EV investment:

https://www.msn.com/en-us/money/comp...69fd2263&ei=11

Their buying the stock back because it’s down 28%, so basically, it’s on sale.

[Martinjlm]

Originally Posted by bigd1276

Auto dealers call on Biden to hit brakes on unrealistic, unachievable electric vehicles mandate

https://www.msn.com/en-us/autos/news...te/ar-AA1kNtj9

Waiting for Martinjlm to spin...........

I don’t need to spin this. It is what it is. Thing is, Biden can’t mandate anything. And quite frankly, I sorta agree with the dealers. There should be a mix of hybrid, PHEV, and BEV. In that scenario buyers can buy the best vehicle for their needs.

[Martinjlm]

Meanwhile, Tesla delivered the first 10 Cybertrucks after showing a video of a Cybertruck beating a 911 in a 1/4 mile, while towing a 911. In fact, the towed 911 crossed the 1/4 ahead of the racing 911. On one hand, nothing about the Cybertruck appeals to me, but ya gotta admit that was quite the epic stunt.

[olrocker]

Originally Posted by Martinjlm

Their buying the stock back because it’s down 28%, so basically, it’s on sale.

They’re using much of their future EV development budget to pay for it.

Mary herself said they’re upping reinvestment in gas and diesel engines now.

[Martinjlm]

[QUOTE=olrocker;11384395]If there was any question EVs will never be more than a niche outlier in the automotive industry, here’s your proof. GM’s buying back $10b in stock with finances saved by scaling down future EV investment:

https://www.msn.com/en-us/money/comp...69fd2263&ei=11[/QUOTE]

So this is what a niche outlier looks like. #4 and # 12 in the US in sales this year. Also #1 and #4 in the world. Niche. Right.

[Martinjlm]

Originally Posted by olrocker

They’re using much of their future EV development budget to pay for it.

Mary herself said they’re upping reinvestment in gas and diesel engines now.

They could do a number of things with the money they pull back from EV investment. Buying the stock back is a completely different decision path. They are buying it back because it’s undervalued. Corporate finance 101. If I had $10k for every time I can personally remember GM buying back stock I’d buy a C8.

[bigd1276]

"In that scenario buyers can buy the best vehicle for their needs."

FREEDOM!!

We've reached common ground.

[Capricio]

Common ground on a tilted playing field full of subsidies, unrealistic regulations, and carbon credits.

[bigd1276]

Originally Posted by Capricio

Common ground on a tilted playing field full of subsidies, unrealistic regulations, and carbon credits.

Bingo!

[Martinjlm]

Originally Posted by bigd1276

"In that scenario buyers can buy the best vehicle for their needs."

FREEDOM!!

We've reached common ground.

Common ground indeed. But I’ve always been there. I think where I have had the most debates is pushing back on people who think BEVs shouldn’t even exist. They do. They will continue to take market share. For a lot of use cases they are by far the best vehicle with the best value proposition. There’s a reason why Model Y is a runaway sales hit. It’s fast as f***. Faster than most muscle cars. It has more storage room than just about any SUV its size or even larger. With the price drops Tesla has made in 2023 it costs less than a lot of comparable ICE vehicles…BEFORE the $7,500 credit. And the cost of operation is ridiculously low.

I’ve always said that people who live in multi-family dwellings with no access to a parking spot where they can reliably plug-in would be much better off with a hybrid. At least until the multi-dwelling charging is figured out. Ironically I was speaking with a company today who has a nice solution in place in Montreal.

I’ve said dozens of times that by the time people can no longer buy a new ICE car, I will be contained in an ornate urn on one of my kids’ fireplace mantles. But, and I’ve said this many times, the options for purchase of new ICE will be very limited compared to offerings available today.

[olrocker]

Originally Posted by Martinjlm

They could do a number of things with the money they pull back from EV investment. Buying the stock back is a completely different decision path. They are buying it back because it’s undervalued. Corporate finance 101. If I had $10k for every time I can personally remember GM buying back stock I’d buy a C8.

Hey dude, I’m just going by the report in that article. It says they’re buying the stock back with EV funds.

Glean from that what you will.

[Martinjlm]

Originally Posted by olrocker

Hey dude, I’m just going by the report in that article. It says they’re buying the stock back with EV funds.

Glean from that what you will.

It’s all good. I’m not trying to be contentious, but I’m working from a slide that was shown during the review where GM pointed out their break even timing for their EV investments. It pretty much illustrates that spending is delayed, not cut. If I can find it again I’ll post it up. Now, the pullback on Cruise autonomous vehicle unit is another story. That funding may or may not ever find its way back.

***EDIT*** That didn’t take long. Found it. I don’t know how the writer of the article got shifting of funds from EV to buy stock from a presentation where GM showed the intent to INCREASE volume of Ultium powered vehicles, INCREASE the capacity to manufacture batteries and achieve profitablilty by getting EV volume to scale. This chart pretty much says the exact opposite.