Wow. Tesla crashing even harder now than it has been crashing for the past year because fewer and fewer people want an EV with all the problems EV cars have. Tesla reported that it's shipments in China dropped a massive 19% compared with a year ago, and a year ago was already terrible to begin with.
The electric car hype bubble has burst and keeps spilling its guts out like a rotting whale on the beach.
Tesla shares dropped to new multi-week lows as slowing China shipments, and new price cuts there, hint at troubles for the EV stalwart in the world’s largest car market.
Your "facts" about EV sales are as reliable as Al Gore predicting we would all be dead by 2020 (I'm still alive, by the way). From the same article I posted, the largest EV maker in the world, BYD, also saw a massive drop in EV sales of 37% vs a year ago:
"Even China’s BYD, which surpassed Tesla in overall EV sales in Q4 and generally dominates the Chinese EV market, saw its February sales tumble to 122,311 units from 193,655, a 37% drop."
Your calling my factual statement on par with Al Gore predictions is a lie.
That's not a lie. That's just an "inconvenient truth" where you refuse to accept the facts of reality straight from the mouths of the two biggest EV makers in the world.
Your calling my factual statement on par with Al Gore predictions is a lie.
That's not a lie. That's just an "inconvenient truth" where you refuse to accept the facts of reality straight from the mouths of the two biggest EV makers in the world.
It is a lie. I’ll prove it.
Show me a year where the worldwide EV sales are down from the previous year. Guess what? You can’t.
Your "facts" about EV sales are as reliable as Al Gore predicting we would all be dead by 2020 (I'm still alive, by the way). From the same article I posted, the largest EV maker in the world, BYD, also saw a massive drop in EV sales of 37% vs a year ago:
"Even China’s BYD, which surpassed Tesla in overall EV sales in Q4 and generally dominates the Chinese EV market, saw its February sales tumble to 122,311 units from 193,655, a 37% drop."
Here's an anaolgy to help your small brain.
GWM and LDV brought out Ute's, now Kia will release one and likely do better than those.
Toyota Hilux and Ford Ranger lose sales.
The overall market still goes up.
Gee, common sense and arithmetic is almost like magic
America doesn't control the interest rate in China. The current US Fed rate is 5.5%. in China, the interest rate is only 3.45%, lower than the historical average for China. The crashing sales of electric vehicles in every single EV manufacturer in the world (and that is not an exaggeration) is simply because EVs suck and have way too many problems for people to keep buying.
More than half of the electric vehicles (EVs) on roads worldwide are found in China. In 2022, new EV sales in China grew by 82%, and the country provided 35% of global EV exports. While the U.S., Norway, and other Scandinavia...
One of their big growth areas is with urban vehicle, especially small ones. They also have massive mass transit system. They can get nearly anywhere with the slow, medium and high speed rail network. There are those who will still buy "Image" types of vehicles like a Tesla or a Hummer, but the Chinese are buying those that are 10's of thousands less.
News headlines like this that you see are funded by corporations that manufacture cars, supply power using “natural gas” (meaning unearthed chemicals that cause pregnancy issues to those who live around those power plants). It’s part of the game to get people to not buy electric vehicles, to get them to believe “the world is going this way…everyone else is doing this”, so that they can stay competitive.
To put in into running terms, “in the year of 2024, Yared Nuguse isn’t improving like he did in 2023”. This makes you believe he’s getting slower. When in reality, his mile/ 1500m PR’s aren’t decreasing significantly anymore because he’s already at an elite level.
I am discouraged that many on here don't understand slowing growth rates (what is occurring now in the EV market) and negative or zero growth rates. Slowing growth rates are tough on companies and industries as they typically overbuild in times of exuberance-see streaming and some software companies (even "bullet proof" security software companies like PANW have taken a hit recently).
The EV market faces headwinds, some short-term-large used depreciation due to falling new prices and battery uncertainty, high price points, and cold-weather issues.
Long-term, who knows? It appears that PHEVs are great middle-ground solution. PHEV's may save more energy and fossil fuels than EVs (less mining, less strain on power plants (given AI chip power demand), easy battery disposal), plus there is no range anxiety.
The coming failure of Fisker and Rivian is a reminder that it is hard for the government to pick winners and losers, particularly as any energy subsidy causes more energy to be used (the demand curve slopes down) thus defeating the purpose of the new business in the first place.
This post was edited 3 minutes after it was posted.
Wow. Tesla crashing even harder now than it has been crashing for the past year because fewer and fewer people want an EV with all the problems EV cars have. Tesla reported that it's shipments in China dropped a massive 19% compared with a year ago, and a year ago was already terrible to begin with.
The electric car hype bubble has burst and keeps spilling its guts out like a rotting whale on the beach.
This is totally wrong. The problems people have with EVs in the US is due to poor EV infrastructure. That is not the issue with Tesla's EV sales in China. In China, the new car market is now over 25% EVs, compared to 7% in the US. As Chinese automakers have rapidly developed EVs, they have moved to the head of the global EV market. The hot cars in China are home brands as they've reached parity and gone past Tesla and that's why Tesla is losing market share. BYD is now the largest EV maker in the world.
Elon Musk earlier this year said regarding BYD and other Chinese automakers:
“Frankly, if there are not trade barriers established, they will pretty much demolish most other car companies in the world.”
Musk knows his biggest competition is Chinese automakers. GM, Ford, and Stellantis have been messing around with more focus on their profit centers of big trucks/SUVs, and are way behind the top Chinese automakers in EVs. Those companies are still learning and losing money on each EV they sale, unlike Tesla, BYD and some other Chinese automakers.
The slowdown of EV sales in the United States is a problem created by automakers who were unwilling to see the looming threat of China and are now unable to build a competitive and affordable EV product. This was only exacerb...
In Australia, they shut down their automaker Holden (a GM subsidiary) some years back, the government no longer willing to provide subsidies, so they have no homegrown automakers to protect. And there are now all of a sudden a lot of Chinese cars there:
This episode of The Morning Dump will take us on a tour around the world, albeit one skewed toward the Pacific as we look at the success and failure of a whole crop of new automakers. As the headline and photo should make cle...
Saying it in a more succinct way: EV sales in China are going up, but Tesla is rapidly losing market share (and sales down 19%) to Chinese automakers. The Chinese automakers are outcompeting Tesla.
