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Auto execs are coming clean: EVs aren't working
(www.businessinsider.com)
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this post was submitted on 08 Nov 2023
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“We are grossly overcharging for our product and nobody is buying… Obviously nobody wants an EV!"
The problem is that small cars are unpopular in the US, they are available in Europe but the majority would not buy them in the US. Once you make the car bigger it gets heavier and you need more battery to give it the same range as a small car, and as the battery is one of the most expensive components on an EV its going to boost the price quite dramatically.
Europe has brand new EVs from £8k, but they are tiny city cars. Small hatchbacks are low £20ks now, and with the way finance works in Western Europe the monthly is not that much, starting at low £200 per month. Its not till you get to what would be a very large SUV in Europe do you start to get to the £1k+ mark per month, or what the US would call a mid sized SUV. That's the penalty of demanding a 2.5 to 3 ton EV.
Used you can pick up small hatchbacks from £5k now, but there just isn't the availability of large cars (or US mid sized) to make the used market viable for those on smaller budgets.
Chicken and egg. US makers don't offer small cars is why no one buys them.
It's because the profits are bigger for bigger cars, so yeah capitalism!
If they would sell in decent numbers they would sell them as the manufacturer makes the most on new and nearly new cars that are still being sold/serviced by a main dealer, this is also capitalism.
Once a cheap (ish) car hits a certain age the manufacturer makes diminishing amounts. In Europe they would rather sell you a brand new small car than you buy a used bigger car they will not make anywhere near a much on.
If Musk delivers on the Model 2 for the US market then I think we will see some real movement in the US, but till then things like the VW Golf just do not sell. I think they sold 2.5m Golfs in total in the US, UK has around a million still on the road, a country with about 20% of the population.
Nah dude, I'm seeing the same shit here in EU. they are not selling the small cars, like you cannot buy stuff that is supposedly on the catalogue. But you can finance this 3ton monstrosity that costs double of what you're looking for easy peasy.
Even the fucking Yaris now is a SUV
https://www.toyota.co.uk/new-cars/yaris-cross
Somebody has one of those near me, its not actually that big, plus not all Yaris come as the crossover, at least in the UK. The crossover is 4.1m long and about 1.7m wide, its only 15cm longer and about 10cm wider than the standard Yaris, and again, optional.
If you want properly small then get a Citroen Ami. Otherwise the Fiat 500e is about 3.5m long and 1.5m wide, this is the same as its always been, this is still noticeably smaller than a Golf mark 1 from the 70s.
Driving a Mercedes EQB and paying ~£600 per month, due to banks here in Denmark making low interest car loans on EVs.
Ah the joys of environmental subsidies.
UK is particularly fucked at the moment for car loan pricing since Liz Truss massively accelerated interest rate rises they have become noticeably more expensive.