EV Inventories Pile Up as Dealer Expectation Dims for Q3

[ptif219]

People do not want EVs. It is time Biden undrstand that. Their green agenda is not wanted ot liked


https://www.theepochtimes.com/artic...utm_source=partner&utm_campaign=BonginoReport

Electric vehicle inventories continued to remain high in July, with several models having more than 100 days’ worth of supply.

Though new EV inventories fell slightly from 103 days’ supply in June to 100 days in July, it remains “well above industry average,” intelligence platform Cox Automotive said in an Aug. 10 post.

Days' Supply refers to the average number of days the warehouse holds inventory before selling it. A higher number, in this context, indicates EVs remain unsold as inventories pile up—signaling weak demand. A 100 days’ supply is an extremely high number compared to the second quarter of 2022, when it was only 38.5 days.As inventories pile up, a recent survey showed that Americans who are more resistant to purchasing EVs were becoming “more entrenched in their views.”

In the annual Electric Vehicle Survey from Autolist published in July 2023, 26 percent of respondents said “no” when asked whether they ever see themselves owning an EV. This is 5 percentage points higher than in the prior year.The percentage of people who replied that they intend to buy EVs “in the future” dropped to 39 percent from 42 a year back.

Only 38 percent agreed that EVs were better for the environment compared to gas vehicles, dropping from 46 percent in 2022. The percentage of people who said gas vehicles are better for the environment jumped from 9 to 13 percent during this period.

“This was interesting to us because while EVs are often treated as an inevitability in the media and by automakers themselves, not everyone sees them that way,” said Corey Lydstone, founder and CEO of Autolist.

While 42 percent of respondents were concerned that EVs were too expensive to buy or lease, 39 percent were worried about vehicle range in a single charge, and 33 percent were concerned about where to charge the EVs.

EV charging remains a significant issue in the United States.

Even though the number of public charging stations in the country has risen, customer satisfaction with public Level 2 charging declined 16 points in 2023 compared to 2022, said an Aug. 16 study by data analytics firm J.D. Power.

Scoring 617 out of a possible 1,000 points, customer satisfaction was at the lowest level since the study began in 2021.

 

[Tinkerpeach]

Once the technology improves for charging and their prices drop it would make sense that people would switch to them.

The tech is not ready yet however.

 

[NiftyNiblick]

Once the technology improves for charging and their prices drop it would make sense that people would switch to them.

The tech is not ready yet however.

I make no claims to expertise,
but I see merit to this observation.

I doubt that prices will significantly drop,
but they will probably stabilize as the technology matures.

 

[Tinkerpeach]

I make no claims to expertise,
but I see merit to this observation.

I doubt that prices will significantly drop,
but they will probably stabilize as the technology matures.

I agree.

To get a car with a battery that can charge in around ten minutes you will have to spend upwards of around 60k at a minimum.

 

[NiftyNiblick]

I agree.

To get a car with a battery that can charge in around ten minutes you will have to spend upwards of around 60k at a minimum.

Yes, of course,
but 60 inflated K when it happens a bit down the road
will be less money than 60K is now.

 

[Matt Dillon]

People do not want EVs. It is time Biden undrstand that. Their green agenda is not wanted ot liked


https://www.theepochtimes.com/artic...utm_source=partner&utm_campaign=BonginoReport

EV's? That could lead to fire, ain't nobody got time for that.

 

[Matt Dillon]

I agree.

To get a car with a battery that can charge in around ten minutes you will have to spend upwards of around 60k at a minimum.

Also have access to a charger that's capable of doing it.

 

[T. A. Gardner]

Once the technology improves for charging and their prices drop it would make sense that people would switch to them.

The tech is not ready yet however.

Why? What clear advantage(s) do EV's hold over ICE vehicles?

 

[Tinkerpeach]

Why? What clear advantage(s) do EV's hold over ICE vehicles?

Less gas.

 

[ptif219]

Once the technology improves for charging and their prices drop it would make sense that people would switch to them.

The tech is not ready yet however.

The grid will not handle it. They want no one to drive oermanent lock downs


https://thefederalist.com/2023/08/1...ning-meat-dairy-and-private-vehicles-by-2030/

 

[T. A. Gardner]

Less gas.

How is that an advantage?

 

[Tinkerpeach]

How is that an advantage?

Less gasoline smell on my clothes.

 

[T. A. Gardner]

Less gasoline smell on my clothes.

Ooookkkaaayyyy....

 

[Nordberg]

I agree.

To get a car with a battery that can charge in around ten minutes you will have to spend upwards of around 60k at a minimum.

Don't make shit up. Charging is going faster and faster and it includes the lower priced models. Toyota announced a breakthrough that will charge their cars from 10 to 80 percent in 10 minutes, or less.
But if you had one, you would know you plug it in at night to top it off. The time it takes for that is about 15 seconds.
People do not run them to zero. There is no reason to do that.
Day after day, week after week, you spend almost zero time charging. You ICE owners spend a lot more time, trouble and money fueling up.

 

[Tinkerpeach]

Don't make shit up. Charging is going faster and faster and it includes the lower priced models. Toyota announced a breakthrough that will charge their cars from 10 to 80 percent in 10 minutes, or less.
But if you had one, you would know you plug it in at night to top it off. The time it takes for that is about 15 seconds.
People do not run them to zero. There is no reason to do that.
Day after day, week after week, you spend almost zero time charging. You ICE owners spend a lot more time, trouble and money fueling up.

Our cars have more sources of fuel.

And to charge a car in 10 minutes you need one with a top of the line battery and they are very expensive. Then you usually have to go out of your way to find a charging station if you are going any distance.

 

[Nordberg]

Our cars have more sources of fuel.

And to charge a car in 10 minutes you need one with a top of the line battery and they are very expensive. Then you usually have to go out of your way to find a charging station if you are going any distance.

That is ridiculous. Do you have electricity at home? How many homes and businesses are there with electricity? You do not need charging stations. I have never used one. My wife went to a mall and they had free charging while you shopped. She used one once.
If you go across country, you will have to plan the trip. On your computer or phone, type in charging stations and your zip code. They will popup. You will be shocked at how many there are.
Any distance? Define that.
yes, you can paint A scenario that is bad for EVs. That is saying the value of EVs is diminished by a unique circumstance. However, lots of ICes are run out of gas by drivers. We all have gas cans in our garages in case.
There are places in America where it is very tough to find a gas station. That proves ICEs are not reliable.

 

[Tinkerpeach]

That is ridiculous. Do you have electricity at home? How many homes and businesses are there with electricity? You do not need charging stations. I have never used one. My wife went to a mall and they had free charging while you shopped. She used one once.
If you go across country, you will have to plan the trip. On your computer or phone, type in charging stations and your zip code. They will popup. You will be shocked at how many there are.
Any distance? Define that.
yes, you can paint A scenario that is bad for EVs. That is saying the value of EVs is diminished by a unique circumstance. However, lots of ICes are run out of gas by drivers. We all have gas cans in our garages in case.
There are places in America where it is very tough to find a gas station. That proves ICEs are not reliable.

That's hilarious, if you work at a supermarket get about four extension cords to plug into the store and run them out into the parking lot to charge your car and hope nobody rips off your cords. Same thing with living in an apartment.

 

[LurchAddams]

People do not want EVs. It is time Biden undrstand that. Their green agenda is not wanted ot liked

All new vehicle inventories are piling up, not just EV's my friend.

https://www.coxautoinc.com/market-insights/new-vehicle-inventory-may-2023/

"Revised, July 13, 2023 – New-vehicle inventory in May reached its highest level in two years, according to Cox Automotive’s analysis of vAuto Available Inventory data, with a notable increase from the previous month. Days of supply increased due to a slight weakening in sales toward month-end. Despite a decline in the average listing price, it remained above $47,000."

Looks like you cherry-picked a rw article that was heavily biased against EV's.

 

[LurchAddams]

The grid will not handle it. They want no one to drive oermanent lock downs


https://thefederalist.com/2023/08/1...ning-meat-dairy-and-private-vehicles-by-2030/

The current grid? Perhaps not. But grids will be upgraded to handle the demand, when it's time.

 

[T. A. Gardner]

Our cars have more sources of fuel.

And to charge a car in 10 minutes you need one with a top of the line battery and they are very expensive. Then you usually have to go out of your way to find a charging station if you are going any distance.

I'm betting that if you do that regularly, the car's battery has a very short service life...