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this post was submitted on 27 Jun 2024
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Sounds like US automaker higher prices are the actual threat.
For what it's worth, a government can absolutely subsidized an industry in an attempt to capture a foreign market.
There's a reason Japan and Korea have their own auto industries despite being next door to the largest manufacturing nation on earth, and it isn't because they're somehow making and distributing them for even less than China.
That being said, several automakers have blindfolded themselves about the type of cars people want. I do hope this threat is significant enough that automakers actually shift to mini-electric transportation options.
If not, I'd be happy enough buying a small Chinese electric even if the taxes made it equivalent to a larger "western" vehicle. Because it's what I want to have available to me and it's nice to fuck capitalists with capitalism.
It'd be nice if instead of putting massive tariffs, we would just subsidise production of comparable, small cars.
its less about the subsidies and more that budget buyers in the U.S in particular are very picky buyers.
while the federal/state EV tax credits, you can get vehicles like the Chevy Bolt for 20-22k. regardless the car still isnt that popular (meaning theres something specific about the car that buyers dont want).
for those buying used cars, theres not mamy reasons why someone would buy a say new 18k-20k EV that had many cuts in design vs an older premium EV. Used 2016 Model S for example can be found near 16k. its a new cheap car vs used premium car debate
this places a burden any any auto maker trying to make a budget car, because in order for it to sell well, they need to have razor thin margins, and sell a lot. failure to do so would spell the end of your compamy due to how many you produced.
June 11th 2024 GM announced that the board approved a 6 Billion dollar stock buyback plan.
That is a direct wealth transfer from the company to the owners.
We have met the enemy, and they are us.
The next quarter is the only thing that matters.
And this is why we will bail them out again.
That 9 billion could have been spent on making a low cost EV to compete. It could have been spent as retention bonuses for their best workers. It could have been spent so many things that would secure their future in a changing world.
I think it's as true for government as it is for corporations. Nobody is the adult in the room.