theluckycountry wrote:Irrelevant. Ev sales today or tomorrow mean nothing against the falling rate of sales increase.
U.S. EV sales fell short of predictions in 2023
https://fortune.com/2024/01/08/us-ev-sa ... l-johnson/
And the only way they achieved the sales they did was to Slash prices. But they can't slash anymore so it's game over. Ford Knows it, Toyota knew it a decade ago, it's only the fanboys still in denial. What follows Peak EV? A long protracted decline in sales of course. Expect that in the first two quarters of 2024.
You are leaping to a conclusion without all of the facts. First of all, 2023 saw high interest rates. Not only did this cause the overall growth rate of the global economy to slowdown in 2023, it also had a detrimental impact on the borrowing costs of car buyers. And since EVs cost more than ICE, they were hit proportionally harder than ICE vehicles.
EV financing
Most EVs are purchased on loans. However, buyers are facing an issue across the auto industry regarding car financing; rising loan amounts.
The impact of rising interest rates on EV adoption
An increase in interest rates can have a significant impact on the affordability of EVs. With rising interest rates, financing costs rise, making it difficult for consumers to purchase an EV. This can make EVs less accessible to lower-income households, as they may be unable to secure the necessary financing. Additionally, EV buyers may be more likely to purchase used or less expensive models of vehicles due to cost constraints, thus reducing the overall growth of the EV market.
Impact on the global economy
The impact of rising interest rates on the adoption of EVs can also have implications for the global economy. As the cost of financing increases, the cost of producing EVs is likely to increase. This can lead to an increase in the cost of production.
Conclusion
The impact of rising interest rates on the adoption of EVs is significant. An increase in interest rates can make EVs less affordable and less attractive to potential buyers, thus reducing the overall growth of the EV market. Additionally, an increase in interest rates can lead to an increase in the cost of production and a decrease in their resale value, thus making them less attractive to potential buyers. Finally, the impact of rising interest rates on the adoption of EVs can have implications for the global economy and the environment.
Impact of rising interest rates on EV AdoptionSecond, the Ford Lightning is not exactly a stellar buy. Not only did it came out much more expensive than it was supposed to, but the vehicle itself performed poorly. It is not surprising to me that the vehicle is not selling well and Ford has to cut production.
The Lightning was supposed to be somewhat affordable, with a starting price of $41,669 when it went on sale in May 2022. That price was a mirage. Ford has saddled the F-150 Lightning a number of price hikes, diminishing the everyman appeal a bit more each time. At one point, the price of the Lightning Pro had jumped a staggering, almost inconceivable $20,100 more than its original base price. Things got better in July, with the Pro dropping by almost $10,000 to $51,990—still a long way from the $41,000 we were promised. Even so, the optics weren't great, and the $51,990 base price doesn't get shoppers in the door like a $41,000 MSRP would.
We would be loathe not to mention our own mixed feelings about our time with the truck during our long-term test, too. We've had qualms about efficiency and range prediction, towing frustrations, and groaned about expensive subscription features. In some ways, our trucks didn't meet our expectations—and so there may be an issue with consumer expectations versus electric pickup realities.
There's more to the picture that we can't fairly weigh and measure, like the costs of the UAW strike (which occurred after the MSRP revisions), supplier costs, and so forth. But the bottom line is frustrating for any consumer interested in an affordable EV pickup truck like the one Ford originally promised: Instead of slashing prices, Ford is slashing production. A Ford representative told us the company "will continue to match Lightning production to customer demand," but reducing supply seems more likely to keep MSRPs higher, and the Lightning out of the hands of otherwise interested buyers, when a price cut might spur more demand. After all, look at the initial interest in the truck back when it supposedly cost just over forty grand.
It’s No Mystery Why the F-150 Lightning EV Isn’t Selling Like Ford HopedThird, you are living in the past with your views on Toyota. Toyota did an about face in 2023 and is now in a mad scramble to catch up with it's peers in the EV market.
An earthquake has rumbled through Toyota City in Japan. For the past two decades, Toyota has clung stubbornly to two core beliefs — its Synergy Drive hybrid powertrain was the pinnacle of the automotive world, and the future of transportation will be powered by hydrogen. It has sat idly by for a decade as Tesla appeared from nowhere to spark the EV revolution, and China embraced electric cars with zeal.
Earlier this year, Akio Toyoda finally stepped aside and passed the reins to Koji Sato, who dutifully promised to carry on as if Toyoda-san was still running the show. But Sato was just being polite. Less than 6 months later, Toyota is waking from its long winter’s nap and planning a full scale effort to get back in the electric car game.
There are signs that insiders have been quietly pursuing the development of electric cars in an under-the-radar kind of way while waiting for Akio Toyoda to step aside. Its plans call for the introduction of full lineup of electric Toyota and Lexus cars by 2026 — proof that it has been preparing a foundation for EVs for a while now. Typically it requires 3 to 5 years to take an idea and turn it into a production vehicle.
Toyota has a huge challenge ahead if it wants to retain its position as one of the world’s dominant car manufacturers. It started late and is at least a lap behind the rest of the field.
Toyota Wakes Up To Find That It’s 2023 & There’s An EV Revolution Going OnFollowing the arrival of new CEO Koji Sato, Toyota has dramatically increased its commitment to electrics, with the aim being to catch rivals with a wave of new models and innovative battery technology. One of the first new EVs will be a three-row SUV (pictured above) that is set to be produced at Toyota's Georgetown, Kentucky, plant from 2025, and which will be aimed at the same part of the market as the Kia EV9. Toyota says this new model will use batteries produced in its own factory in Liberty, North Carolina, a plant that already employs 2000 people but is set to increase to 5000.
By 2030 Toyota says it will be able to make 30 GWh of batteries in North Carolina each year, enough for 375,000 80.0-kWh packs, but with production split across 10 different lines to produce different-sized packs for EV and plug-in-hybrid models. Toyota says it is committed to making 3.5 million EVs annually by 2030, with 30 different models across Toyota and Lexus brands.
Toyota Lays Out Its EV Battery Road MapToyota Motor said on Tuesday it would boost investment by $8 billion and add about 3,000 jobs at its electric-vehicle battery manufacturing plant in North Carolina, accelerating the Japanese automaker's push to electrify its lineup. The company, which plans to have electrified options for all its models available by 2025, said the latest move will bring its total investment in the plant to about $13.9 billion and jobs to more than 5,000.
Unlike global peers, Toyota had earlier bet on hybrids and hydrogen-fuel cell vehicles rather than battery EVs, but the world's top-selling automaker this year announced a pivot, with plans to commercialize advanced batteries and adopt die-casting technology pioneered by Tesla.
Toyota pledges $8 billion more for US battery plant to rev up EV pushAnd you are making another Peak EV call? Shocking. So you think EV sales will fall in 2024? Well then I guess I should make a call too: I predict EV sales in 2024 will be higher than 2023. I guess we will see who is correct.