Unfortunate that the governments is making it virtually impossible for new startups. Innovative and affordable vehicles like Aptera and Nimbus get virtually no incentives where a tesla model 3 gets up to $15k in california (a far better approach would be to tax new ICE vehicles 10-20% then let the market decide). They have also made ATVM (which was critical for tesla early) virtually impossible to get for anyone that isn't already making money (basically its now a backchannel way to subsidize the big 3). Tesla is on pace to be the majority of vehicle sales in the US by 2035 and regardless of your view on Tesla monopolies are universally bad for consumers (unless import tarrifs on china are relaxed)
14:14) GOP says "deregulation" is necessary for airlines, trucking, pretty much EVerything, EXCEPT cars! No, no, no, no. Dealers work as a monopoly to PROTECT American consumers!
I mean, I predicted the lack of demand for the EVs from these companies back in 2017 or even earlier...I knew, for example, that Detroit and Berlin and Tokyo would not be as good at software as Silicon Valley. I knew the legacy automakers would lack the battery cells to scale to mass market production rapidly, and would lose versus Tesla on scale of production resulting in higher prices. I knew that legacy automakers would lack the knowledge Tesla was fighting hard for of how to cut production costs. And then some legacy automakers were still deciding to make shared platform EVs, which guarantees their EVs cannot possibly compete. It doesn't take smarts, it just requires that one is not dumber than most gerbils.
Over 15 years ago, I was a sales manager at a for a Nissan and Ford dealership. The only dealerships make money on new cars was Honda and Toyota and it was in thousands. Rest ONLY make profit on service. So of course dealerships don't want to sell electric cars.
Don’t forget that dealerships also make money up front on unnecessary extended warranties. 100% agree with you on the service side of the house though. Break even on a vehicle sale….then spend the next several years up charging on service
@@ericnelson382 I just got charged $200 by ford spend 5 minutes pluging a scanner to determine if my wifes focus with 60k miles had an transmission issue (covered by extended warrenty recall) or clutch (suspiciously not covered despite also being crap). So they sell junk and gouge you to even determine if they need to perform the legally mandated repair on a product which is on its second transmission and now clutch (which they wanted $3000 to do). Absolute garbage service and product.
Yeah, that is why the dealerships will go under, people who want an EV are not likely to pay for a new transmission or an engine rebuild or any other expensive repairs. The big problem will be that surviving dealerships will keep defending the laws that keep legacy automakers from doing direct sales to the death, locking legacy automakers out of selling in areas where dealerships have closed. Legacy automakers are about to suffer the death of a thousand cuts.
@@tribalypredisposed in the short term with our low mileage the most economical thing is buying quality 10 year old ice vehicles. We only drive 3-4k miles per year. Ford will not be on my shopping list and neither is tesla. Replacing that focus but will likely be under $10k us. Still looking into the volt - have a friend that loves it.
❤ A Truly honest review of what is being broadcast in the news media: abc, cbs, nbc, and public television are failing to report and educate the facts to the public. Thank you for bringing this topic to our attention. You are a BEACON of light.😊😊😊
I actually wanted to buy a Mach E but my dealership experience was so bad I bought a Tesla Model Y instead. 4 mos later, I couldn’t be happier. Love my Y.
@@AnimationByDylan I like the body's styling and it drove really well. Only after I got the Tesla, did i realize the importance of the Tesla charging network. Really, had the dealership been more cooperative and less sleazy, I be regretting my purchase right now.
You left out the Osborne effect. Who wants a brand new electric vehicle with a charging port that is already obsolete, and will tether them to a failing public charging network when they could buy a Tesla today or a new car in a few months that has the right port on it?
Having an ev that’s not a Tesla is like having a phone that’s not an iPhone, like having soda that’s not Coca Cola or coffee that not from Starbucks, People want the daddy, and when it comes to ev’s Tesla is the king
I have a Hyundai Kona since 2019 and I could not be happier with that car. In 2019 Tesla was not in my price range but the driving range was almost the same so I went for the cheaper option. I also did not like the wait for Tesla's mobile service if something is wrong or change to winter tires here in Canada. I think the Kona is certainly not a crappie car. It served me VERY well.
Sam, Your videos are doing a great job explaining what is happening with electric cars. You're also explaining the anti-Tesla and anti-Elon campaigns including the irrational noise affecting the stock market. Great job.
Tesla Mexico is going ahead more slowly, but the other factories are being improved and output is growing. Mexico and India look to be 3 years or more out.
THANK YOU SAM! I watched the CNBC video and was very irritated at how they didn't exclude Tesla from their assumptions or at least noted that Tesla is not having a problem selling electric vehicles. Everyone I know hates the whole dealer experience. I love how Tesla is disrupting many industries that have had a grip on our wallets. I own 2 Teslas and I fully support the disruption!
Table at 12:14 doesn't appear to include battery replacement costs and $240 pa for maintenance and repairs wouldn't likely even cover an annual checkup.
Excellent video. To be honest, ALL cars are piling up. Post Covid, supply has caught up and is exceeding demand and interest rates are hurting all catefories.
I like some non-Tesla EVs, but the major issue for me is the charging infrastructure. I live in California and nothing beats Tesla's charging network as far as availability and reliability. Finding other stations and getting them to work is a crap-shoot. This is from my experience from renting a Mach E.
I agree wholeheartedly with this comment. I would not consider any EV except Tesla for a long road trip because of the superior Tesla charging network.
My concern is that I'm afraid any other Eevee I buy will be abandoned by the major manufacturers. I think of trying to make $100,000 electric trucks, they should try to make good basic 22000 electric cars with climate control and nothing else fancy. They would sell well and the manufacturers could build them long enough that I would feel more confident.
12:30 That chart is suspect… how is the Tacoma not at the top? I’ve had Tacomas for 15 years and know first hand, and read and heard countless other sources and people saying the same thing, how well they retain their value.
Governments pushing EVs hard at any cost makes no sense. 10 years down the line, I wouldn't be surprised if studies concluded that the rushed attempt at electrifying everything caused more pollution and CO2 emissions than they will ever prevent. Right now, the EV industry has a growing problem with EVs getting written off at the slightest suspicion of battery pack damage, which could make EV insurance prohibitively expensive over the next few years. Battery tech probably needs another 5-10 years to reach the point where cells are sufficiently intrinsically safe that scraping the battery pack over a large rock would no longer be considered an emergency repair as long as the battery is still electrically sound or automatic write-off. As for Tesla selling every EV they make, the nearest Tesla shop to me has to rent parking space from the nearby shopping mall to store its excess inventory. Not looking like sales are doing particularly good.
Americans haven't embraced EVs "yet" because they can still purchase gasoline at a fairly cheap price compared to most other countries. Wait until it cost them $5+ per gallon, EV sales in USA will skyrocket
And how would they react to $8+/USG, like throughout most of Europe? Maybe it explains why EVs in general, but Teslas in particular, are selling in ever growing numbers!
Here in Nova Scotia, gasoline prices just dropped to $8.38 USD. Sure wish Hyundai would send a few Ioniq 5s here. Dealers claim "4 year wait..........."
16:56 The guy didn't mean "we" as in everyone, but "we, the legacy". And he's right, they started too late, and moved too slowly after that. Of course they still have to figure a lot of stuff out. :P
The dealership house of cards is about to fall. . 1) Large stocks of 2024 vehicles (ICE) on dealer lots. . 2) Low sales (obscured by fleet sales) due to? Take your pick of rates, nervourness, customers seeing potential for a (big) bargain? . 3) Manufacturers wishing (desperate?) to get 2024 vehicles out of factories, into dealers, in part due to the recent "UAW discussions". . 4) But dealers have "floorplan" loans on the 2023 stock. If they let the new stock in the old stock MUST be sold discounted?..... They lose. . If they let 2024 stock in, at what price? Similar and the 23 stock? That 23 stock won't sell.... They lose. Higher pricep? Then IF the market recovers (how long?) customers buy the "cheap stuff" (2023) which is still piling up floorplan interest.... Discounts still coming! Customers are exhausted and the dealer is back at square 1 with lots full of higher priced stock..... They lose. . If they dump 2023 stock at auction, thats A LOT of "new old stock" at 30%(?) discount hitting the next tier market in a few months. . Those Next tier dealers will LOVE it. . What would you buy? (2023 with a good independant maintenance and a very nice "free" holiday with the saving?) . 5) They *refuse* the new stock..... That can kill a manufacturer. Take your pick which one. . 6) 1, maybe 2 large dealers call it quits and sell at cost to get out the door.... That could bring the whole house down. . Customers with cash, or the meand to buy with finance are just circling, they are smelling the blood in the water (imo) . None of these routes end well for dealers or Legacy Manufacturers. . Meanwhile Tesla is selling with profit.... And still reducing prices.
I know a guy he ordered 2 EV's. The Cyber truck. Wait time aprox 1.5 years and a Hyundai Ioniq 5 he was give a wait time for that one at 3.5 years . I said to him I would not wait that long for a car but he is adamant. This is in Ontario, Canada. EV's are hot so all this talk about EV's piling up is nonsense and that message is purportraded by the anti EV lobby. I have a Kona EV and I will never go back to these ICE cars. They are soooo sloooow.
Another excellent video thanks Sam. Your content should be watched by way more people, maybe then we could start cutting through all the anti ev bs around!
Sam, dealers spent millions to get their protected status, they will never surrender that advantage. It is the same as asking elected officials to enact term limits, it simply will never happen.
After buying my Tesla with my phone, an experience that needs improvement, I will never buy a car from a traditional dealership. So for me, dealerships are already gone.
Loan rates get brought up constantly. Thing is, higher rates apply to all vehicles, and if someone needs transportation NOW, the loan rate is irrelevant compared to the sticker price. The point being that Dealers tacking on $10k markups due to 'limited supply' is a great way to incentivize customers towards either the gas vehicles the dealers do want to sell or pushes consumers towards the growing number of used gas vehicle left over as other drivers who CAN afford to buy EVs dump their used gas cars - if only as a 'temporary' car until more affordable EVs are available.
Don't forget BYD. The original article was totally US-centric, as is this response. The rest of the world does exist. Just because BYD isn't selling passenger vehicles in the US, doesn't mean BYD isn't a major and growing part of EV sales.
Yes Its also about the batteries. Tesla Germany and China use BYD or CATL batteries not LG Chem. BYD is selling small cars Aust and NZ because we are still waiting for the modal 2
I review a lot of electric vehicles for my channel and I will tell you all these legacy cars with 4 foot to 6 foot long hoods and then you open them up and it’s full of electronics that they didn’t even bother to change them for the electric vehicle platform because they share a ice platform. Just lazy engineering.
The only thing that frustrates me about my model Y performance is that I bought it June 2022 and less than 6 months later Elon dropped the price $13k. That’s a massive amount of equity lost. Other than that, ZERO buyer remorse. I’ve now put 20,000 miles on my car..ZERO maintenance ZERO issues. The warranty is awesome.
Did this man just state a Tesla model whatever, is "significantly more premium" than a Toyota Camry? 😂. Premium these days must mean gadgets and tech, definitely not quality and workmanship.
EV demand is falling, including Tesla. Thats why the price has been continually dropping for the last year. The 2022 Model Y performance was $70K last year, and the 2023 is $52.5K(before incentives) The most egregious s the Model S Plaid. The 2022 was $141K, and the 2023 is $90k. 2022 model S Plaid have lost half their value in 1 year. (Advertised sale at retailers around $70-75K)
yep. Mr Musk planned to lower prices to sustain sales equal to production. He estimated dropping prices to zero profit to sustain sales, as long as that does not "harm the company." As interest rates remain high, expect lower price TESLAs.
& once one chooses an EV. I have first a non Tesla. I quickly found out the charging infrastructure for non-Tesla sucks big time!! I then bought a Tesla in 2019 lrdm3. I had my first service appointment recently, and they came to me & it was free. I have over 100,000 miles, tire changes & window fluid. Charging a Tesla is next to flawless. I drive up plug in, do my shopping done. No hassle, like trying to get the charger to start fumbling with payment methods. Anyone who drives a non tesla ev knows what I'm talking about it sucks.
From what I've heard from other auto commentators, EV repairs are a nightmare in terms of costs and of course the availability of parts, no matter where you live. BTW, as much as it is definitely a bad sign for the economy, it makes me happy to see these shyster dealerships over loaded with cars they can't sell, especially after for the past few years when they and the manufacturers were gouging customers with up to 20-30% markups! BTW, great presentation. Love your show.
SAM - the average NEW car sale price is $48k, but both the TESLA model 3/Y are priced Below that. only Legacy auto charges more for BEV with an ASP of $58k . embarrassing.
Bought a used pickup last Sept. Wasn't the best deal ever, but I'm glad I did. Interest rate was 4.9%😢. No one I currently socialize with has bought a vehicle this year, no one!
@@SamAlexanderRUclips HEY BULLSH1T ARTIST I MEAN MAN BUN....EV'S ARE INFERIOR TO ICE IT'S AN OLDER TECHNOLOGY ELECTRIC VEHICLES PREDATE GASOLINE VEHICLES IT'S A MORE OUTDATED TECHNOLOGY IN REALITY THEY'RE ARE LESS WATER RESISTANT AND MORE DANGEROUS DUE TO BATTERIES HARDER TO PUT OUT ALSO MORE COSTLY DUE TO HIGHER INSURANCE PREMIUMS AND THE NEED TO REPLACE TIRES MORE OFTEN AND THE PART SUPPORT IS TOTAL DOGSHIT PEOPLE WAITING WEEKS/MONTHS FOR THEIR TESLA TO BE REPAIRED LOL AND ACTUALLY PUBLIC FAST CHARGING IS MORE EXPENSIVE THAN GAS AND IF YOUR BATTERY DIES THAT COST MORE THAN AN ENGINE AND TRANSMISSION REPLACEMENT IN AN ICE VEHICLE DONT FORGET FASTEST CARS ON PLANET ARE STILL ICE ITS INFERIOR OUTDATED TECH ALL AROUND TOTAL CRAP REASON THEY DIDNT CATCH ON 190 YEARS AGO KID.
CNBC: NOT GROUND ZERO Even for automotive purposes electric motors have been used for well over a hundred years. Just because legacy manufacturers have chosen to deliberately not to develope them in modern mass market family cars does not mean they are starting from ground zero. Before the Tesla car company ICE cars had batteries, alternators., electric starter motors, wiper motors, seat adjustment motors and the like.
I'm at Target RIGHT NOW watching a line of FOOLS waiting to charge their electric cars in the corner of the parking lot so that they can make it home. They'll wait in line for an hour, lol. What kind of way to live is that? Morons.
They gloss past the point that the majority of the EV's that are pulling up are with companies that are notorious from questionable quality, depreciation and recalls with a product that's new to the manufacturers! Product that's overpriced, not really that compelling or competitive. Motortrend just gave a $65k Chevrolet Blazer EV SUV of the year. You fluid but a much nicer, less expensive ICE for less. I think ALL legacy are banking on this. Lol. What threshold of Tesla's high margin, nimble, cost effective manufacturing, DTC model is he speaking on? Tesla's is not even playing a similar game on a similar field.
There is only demand for Teslas, in the US, because Tesla can cut its prices to stimulate that demand and the other auto makers cannot. This does not mean Tesla isn't feeling the economic pinch, like all the other manufacturers. Tesla IS slowing down on their expansion plans...no different than Ford and GM.
Is this 5 year cost of ownership chart 12:06 really valid? I've heard insurance is more, repairs are more expensive, buyers are concerned about the life of the battery and/or battery repairs when out of warranty and resale values are less.
"heard" from whom? I "heard" from many people who never drove a Mercedes that "Mercedes have the highest repair costs." Simply not true for my (ICE) Mercedes.
616 billion wasted? imagine that invested in ordinary cars. We could have had quality, good looking , dependable cars. The CEOs of our companies are morons.
Working at an dealership was the dirtiest job job I ever had. A nice Nissan dealer. The lowest character sales people I’ve ever met. Finance people were scum, well dressed scum. Unlike the finance industry which is regulated, car finance guys can and will lie directly to the consumer. Money was their passion, their holy grail. I was fired for advising a young couple to think about buying a car they could really afford. I wasn’t a “good” fit. Most people have no idea.
i believe you except that somehow 'aptera' has managed to sidestep the dealership requirement or did i not understand what you said. the waiting list is passed 46k
That is the case everything related to EVs. Tesla is in a class of thier own but people always lump all EVs as equal. That is like me saying all ice cars get bad gas mileage around 16 mpg but that would only be towards trucks.
I use bluetti for charging my Ebike batteries. Tesla 12v can't handle the load, so using this allows me to charge Ebike battery while trickle charging bluetti
If it wasn't for their substantially higher price tag, rising insurance costs, lower range & associated range anxiety, insufficient & unreliable charging infrastructure, poor resale value, significantly higher repair costs, elevated fire safety concerns, high cost of battery replacements, the lack of a battery disposal solution, that electricity rates will rise along with EV adoption rates and the fact that they're not the CO2 panacea they claim to be, I would totally be a fan of EVs. I'm 61 and I don't believe EVs will improve enough in my lifetime to ever warrant owning one.
I just bought a new RWD Model 3. Its standard features are way ahead of any EV and most ICE cars in the price range. I did everything online and was in and out of the delivery center in 15 minutes and wasn't pressured into buying an extended warranty or rust protection scam.
I agree, high interest rates are the big problem. But also hurting this years EV sales is that non-Tesla EV buyers are waiting for the better models coming out in the next few years as other EV makers begin to catch up to Tesla. This is the Osborne Effect which happened as PC computer technology ramped up, and now can also happen with EV's as next year's models are so much better than last year's that people defer orders. Also very important is that many non-Tesla EV's will soon be able to use Tesla chargers, and get Tesla charging ports in their EV's. So range anxety, which is perhaps the second biggest sticking point for EV buyers, will begin to get much better.
Sam is now salesman too. 😂 I like my DIY solar power bank for home. Better than Bluetti and Ecoflow are the new kids on the block. Introducing Anker and Segway. My little Segway 1000 has 2200/3000 watts of power. Double the watts of others
14:39 I don’t think America is the land of the freee lol they have so many restrictions lol no other country in the would lets business do this. Government protect what the customers wants and businesses need to comply 😊
Right on Sam! For them to vomit all those statistics at the beginning of their video but not provide one of the most important car buyer statistic, interest rate, is classic. Like, they pretend to have done all this crazy homework, but have chosen to ignore the most important subject. It's a clear sign of manipulation. IMO, if anything, when you look at all the BEV statistics against interest rates, you should see the current take rate as bullish! People are buying regardless of having to pay twice as much for borrowing. Crazy!
Ground zero with electric cars are clearly false. It’s more than 25 years ago when Toyota made Prius a mass market car. I drove a Tesla Roadster in 2010. It’s been a while,
Car sales in general are down and will continue to fall. Many businesses are feeling the impact of lower visitors and sales. Home sales are slowing down,etc.
Tesla and Hyundai/Kia are doing very well with EVs. All the other manufacturers have made vehicles that are more expensive, have less range, be and are less capable. No surprise that crappy vehicles don't sell - that applies to ICE and EV vehicles.
Its not just EVs piling up at dealers.
Yep, Teslas certainly don't
You got that right. Sales have come to a halt, new and used.
High interest rates have squashed new auto sales, the possible recession in 2024 has the potential to further reduce sales.
Well said roger
There are jeep dealers still sitting on 2022s. How are those 10k markups looking now? LOL
Perfection. You absolutely shredded this biased hit piece. End of the day, big three have failed to build a competitive alternative to Tesla.
Unfortunate that the governments is making it virtually impossible for new startups. Innovative and affordable vehicles like Aptera and Nimbus get virtually no incentives where a tesla model 3 gets up to $15k in california (a far better approach would be to tax new ICE vehicles 10-20% then let the market decide). They have also made ATVM (which was critical for tesla early) virtually impossible to get for anyone that isn't already making money (basically its now a backchannel way to subsidize the big 3). Tesla is on pace to be the majority of vehicle sales in the US by 2035 and regardless of your view on Tesla monopolies are universally bad for consumers (unless import tarrifs on china are relaxed)
Legacy auto dealers gouging EV buyers with market adjustment price increases is not a way to get more customers
@@ccibinelDid you actually just say, “Tax ICE vehicles 10%-20%, then let the market decide”?
The big three - so, Volkswagen, Toyota, and Stellantis? (I mean, it's still true, just a bit less parochial.)
What's said is that they had their chance with the EV1.
Well said. I love hearing you call out the BS and holding the media accountable.
Accountable, lol. If they were held accountable, they'd be in jail.
14:14) GOP says "deregulation" is necessary for airlines, trucking, pretty much EVerything, EXCEPT cars! No, no, no, no. Dealers work as a monopoly to PROTECT American consumers!
Car dealers are some of the scummiest people on earth.
It is a sign of a new world when RUclipsrs like Sam know better than legacy media that are nowadays paid propagandists.
New World Order?
I mean, I predicted the lack of demand for the EVs from these companies back in 2017 or even earlier...I knew, for example, that Detroit and Berlin and Tokyo would not be as good at software as Silicon Valley. I knew the legacy automakers would lack the battery cells to scale to mass market production rapidly, and would lose versus Tesla on scale of production resulting in higher prices. I knew that legacy automakers would lack the knowledge Tesla was fighting hard for of how to cut production costs. And then some legacy automakers were still deciding to make shared platform EVs, which guarantees their EVs cannot possibly compete.
It doesn't take smarts, it just requires that one is not dumber than most gerbils.
Over 15 years ago, I was a sales manager at a for a Nissan and Ford dealership. The only dealerships make money on new cars was Honda and Toyota and it was in thousands.
Rest ONLY make profit on service. So of course dealerships don't want to sell electric cars.
Don’t forget that dealerships also make money up front on unnecessary extended warranties. 100% agree with you on the service side of the house though. Break even on a vehicle sale….then spend the next several years up charging on service
@@ericnelson382 I just got charged $200 by ford spend 5 minutes pluging a scanner to determine if my wifes focus with 60k miles had an transmission issue (covered by extended warrenty recall) or clutch (suspiciously not covered despite also being crap). So they sell junk and gouge you to even determine if they need to perform the legally mandated repair on a product which is on its second transmission and now clutch (which they wanted $3000 to do). Absolute garbage service and product.
Yeah, that is why the dealerships will go under, people who want an EV are not likely to pay for a new transmission or an engine rebuild or any other expensive repairs. The big problem will be that surviving dealerships will keep defending the laws that keep legacy automakers from doing direct sales to the death, locking legacy automakers out of selling in areas where dealerships have closed. Legacy automakers are about to suffer the death of a thousand cuts.
@@tribalypredisposed in the short term with our low mileage the most economical thing is buying quality 10 year old ice vehicles. We only drive 3-4k miles per year. Ford will not be on my shopping list and neither is tesla. Replacing that focus but will likely be under $10k us. Still looking into the volt - have a friend that loves it.
@@ccibinel Kyle Conner bought a Nissan Leaf for $3000.
❤ A Truly honest review of what is being broadcast in the news media: abc, cbs, nbc, and public television are failing to report and educate the facts to the public. Thank you for bringing this topic to our attention. You are a BEACON of light.😊😊😊
I actually wanted to buy a Mach E but my dealership experience was so bad I bought a Tesla Model Y instead. 4 mos later, I couldn’t be happier. Love my Y.
@@AnimationByDylan I like the body's styling and it drove really well. Only after I got the Tesla, did i realize the importance of the Tesla charging network. Really, had the dealership been more cooperative and less sleazy, I be regretting my purchase right now.
Kudos for pointing out the obvious reason why auto sales, and EVs are down...higher interest rates! Of course mainstream media will twist the story. 🙄
Also I seem to recall Tesla was starting their own financing thing, what has become of that?
@@KaiHenningsen To the best of my knowledge, financing is available if you apply in app at point of sale.
You left out the Osborne effect. Who wants a brand new electric vehicle with a charging port that is already obsolete, and will tether them to a failing public charging network when they could buy a Tesla today or a new car in a few months that has the right port on it?
Just fyi, ccs2 is the standard in Asia and Europe.
@@elmohead Sure, but NACS is the standard here.
Osborne will be renamed as the "NACS Effect"
Consumers don't want crappy EVs. They want a Tesla.
Having an ev that’s not a Tesla is like having a phone that’s not an iPhone, like having soda that’s not Coca Cola or coffee that not from Starbucks,
People want the daddy, and when it comes to ev’s Tesla is the king
Tesla is special in 2 ways, the charging network and the software. The cars themselves are mediocre at best in build quality.
I have a Hyundai Kona since 2019 and I could not be happier with that car. In 2019 Tesla was not in my price range but the driving range was almost the same so I went for the cheaper option. I also did not like the wait for Tesla's mobile service if something is wrong or change to winter tires here in Canada. I think the Kona is certainly not a crappie car. It served me VERY well.
Lucid. $$$$$$$$ Jesus wept.
So they want a crappy Tesla ? lol
Sam, Your videos are doing a great job explaining what is happening with electric cars. You're also explaining the anti-Tesla and anti-Elon campaigns including the irrational noise affecting the stock market. Great job.
Glad they did not cut prices up to 38% tesla sales have also slowed and they canceled the next gigafactory.
So if sales slow down, why did Tesla just announce Giga India
@@mddunlap03Please provide your sources. I can't find anywhere that Tesla announced cancelling their new factory. Thanks
They didn't cancel. They slowed down development, but Elon made it clear in the Q3 shareholder meeting that it is still in Tesla's business plans.
Tesla Mexico is going ahead more slowly, but the other factories are being improved and output is growing. Mexico and India look to be 3 years or more out.
This is exactly why I don't watch TV news anymore. They have zero credibility. On all subjects. Great job Sam.
Also there are a lot of RUclipsrs who don't share your ability to produce accurate content.
The best time to buy a electric car is never.
THANK YOU SAM! I watched the CNBC video and was very irritated at how they didn't exclude Tesla from their assumptions or at least noted that Tesla is not having a problem selling electric vehicles. Everyone I know hates the whole dealer experience. I love how Tesla is disrupting many industries that have had a grip on our wallets. I own 2 Teslas and I fully support the disruption!
Was that Jim saying "Clearly, we moved a little bit too much and too fast"?
.
They actually moved too late, and as a result, too slowly.
Chanos still wants us Riding in Horse & Buggys.......lol.
Table at 12:14 doesn't appear to include battery replacement costs and $240 pa for maintenance and repairs wouldn't likely even cover an annual checkup.
Excellent video. To be honest, ALL cars are piling up. Post Covid, supply has caught up and is exceeding demand and interest rates are hurting all catefories.
You always do and great job! Thank you for your efforts. This helps me be aware of what is happening out there.
I like some non-Tesla EVs, but the major issue for me is the charging infrastructure. I live in California and nothing beats Tesla's charging network as far as availability and reliability. Finding other stations and getting them to work is a crap-shoot. This is from my experience from renting a Mach E.
I agree wholeheartedly with this comment. I would not consider any EV except Tesla for a long road trip because of the superior Tesla charging network.
@@bruce49684 First. Herbert Diess agreed with you- and got fired. In August, Jim Farley agreed with you - and …
My concern is that I'm afraid any other Eevee I buy will be abandoned by the major manufacturers.
I think of trying to make $100,000 electric trucks, they should try to make good basic 22000 electric cars with climate control and nothing else fancy. They would sell well and the manufacturers could build them long enough that I would feel more confident.
12:30 That chart is suspect… how is the Tacoma not at the top? I’ve had Tacomas for 15 years and know first hand, and read and heard countless other sources and people saying the same thing, how well they retain their value.
Thank you for making this video.
Governments pushing EVs hard at any cost makes no sense. 10 years down the line, I wouldn't be surprised if studies concluded that the rushed attempt at electrifying everything caused more pollution and CO2 emissions than they will ever prevent. Right now, the EV industry has a growing problem with EVs getting written off at the slightest suspicion of battery pack damage, which could make EV insurance prohibitively expensive over the next few years. Battery tech probably needs another 5-10 years to reach the point where cells are sufficiently intrinsically safe that scraping the battery pack over a large rock would no longer be considered an emergency repair as long as the battery is still electrically sound or automatic write-off.
As for Tesla selling every EV they make, the nearest Tesla shop to me has to rent parking space from the nearby shopping mall to store its excess inventory. Not looking like sales are doing particularly good.
Americans haven't embraced EVs "yet" because they can still purchase gasoline at a fairly cheap price compared to most other countries. Wait until it cost them $5+ per gallon, EV sales in USA will skyrocket
And how would they react to $8+/USG, like throughout most of Europe?
Maybe it explains why EVs in general, but Teslas in particular, are selling in ever growing numbers!
Here in Nova Scotia, gasoline prices just dropped to $8.38 USD. Sure wish Hyundai would send a few Ioniq 5s here. Dealers claim "4 year wait..........."
16:56 The guy didn't mean "we" as in everyone, but "we, the legacy". And he's right, they started too late, and moved too slowly after that. Of course they still have to figure a lot of stuff out. :P
Like tieing shoelaces 🥾
The dealership house of cards is about to fall.
.
1) Large stocks of 2024 vehicles (ICE) on dealer lots.
.
2) Low sales (obscured by fleet sales) due to? Take your pick of rates, nervourness, customers seeing potential for a (big) bargain?
.
3) Manufacturers wishing (desperate?) to get 2024 vehicles out of factories, into dealers, in part due to the recent "UAW discussions".
.
4) But dealers have "floorplan" loans on the 2023 stock.
If they let the new stock in the old stock MUST be sold discounted?..... They lose.
.
If they let 2024 stock in, at what price?
Similar and the 23 stock?
That 23 stock won't sell.... They lose.
Higher pricep? Then IF the market recovers (how long?) customers buy the "cheap stuff" (2023) which is still piling up floorplan interest.... Discounts still coming! Customers are exhausted and the dealer is back at square 1 with lots full of higher priced stock.....
They lose.
.
If they dump 2023 stock at auction, thats A LOT of "new old stock" at 30%(?) discount hitting the next tier market in a few months.
.
Those Next tier dealers will LOVE it.
.
What would you buy?
(2023 with a good independant maintenance and a very nice "free" holiday with the saving?)
.
5) They *refuse* the new stock..... That can kill a manufacturer. Take your pick which one.
.
6) 1, maybe 2 large dealers call it quits and sell at cost to get out the door.... That could bring the whole house down.
.
Customers with cash, or the meand to buy with finance are just circling, they are smelling the blood in the water (imo)
.
None of these routes end well for dealers or Legacy Manufacturers.
.
Meanwhile Tesla is selling with profit.... And still reducing prices.
Thanks
Thank YOU Bruce!
Just had to debunk this crap with friends on Facebook.
show them James Stevenson SALES charts. ICannot_Enough.
You're wasting your time. People have negative "beliefs" about EVs: their religion...
Evs are selling fine in China, Norway, Australia, France, Thailand, Brazil and even Russia.
I know a guy he ordered 2 EV's. The Cyber truck. Wait time aprox 1.5 years and a Hyundai Ioniq 5 he was give a wait time for that one at 3.5 years . I said to him I would not wait that long for a car but he is adamant. This is in Ontario, Canada. EV's are hot so all this talk about EV's piling up is nonsense and that message is purportraded by the anti EV lobby. I have a Kona EV and I will never go back to these ICE cars. They are soooo sloooow.
Another excellent video thanks Sam. Your content should be watched by way more people, maybe then we could start cutting through all the anti ev bs around!
Thanks!
thank YOU Norm :)
Sam, dealers spent millions to get their protected status, they will never surrender that advantage. It is the same as asking elected officials to enact term limits, it simply will never happen.
I look at dealership associations as guilds or business unions.
DELETE Dealerships , 100% Direct to Consumer.
After buying my Tesla with my phone, an experience that needs improvement, I will never buy a car from a traditional dealership. So for me, dealerships are already gone.
Loan rates get brought up constantly. Thing is, higher rates apply to all vehicles, and if someone needs transportation NOW, the loan rate is irrelevant compared to the sticker price. The point being that Dealers tacking on $10k markups due to 'limited supply' is a great way to incentivize customers towards either the gas vehicles the dealers do want to sell or pushes consumers towards the growing number of used gas vehicle left over as other drivers who CAN afford to buy EVs dump their used gas cars - if only as a 'temporary' car until more affordable EVs are available.
Don't forget BYD. The original article was totally US-centric, as is this response. The rest of the world does exist. Just because BYD isn't selling passenger vehicles in the US, doesn't mean BYD isn't a major and growing part of EV sales.
Yes Its also about the batteries. Tesla Germany and China use BYD or CATL batteries not LG Chem. BYD is selling small cars Aust and NZ because we are still waiting for the modal 2
Dealers 'don't believe' EVs are going to dominate, they FEAR they will.
Folks. It was just as difficult to convince other people that milk chocolate would be popular. Until they tried it.
Great content Sam. Keep up the good work. Hope you are doing well!
Your videos are top notch Sam. Hope you continue to get more awesome sponsorships.
I review a lot of electric vehicles for my channel and I will tell you all these legacy cars with 4 foot to 6 foot long hoods and then you open them up and it’s full of electronics that they didn’t even bother to change them for the electric vehicle platform because they share a ice platform. Just lazy engineering.
NO Frunk , no deal.
The only thing that frustrates me about my model Y performance is that I bought it June 2022 and less than 6 months later Elon dropped the price $13k. That’s a massive amount of equity lost. Other than that, ZERO buyer remorse. I’ve now put 20,000 miles on my car..ZERO maintenance ZERO issues. The warranty is awesome.
boo hoo , my CV joint is leaking oil..........lol.
Wait until your Tesla gets into an accident. It will.
Did you get a good interest rate?
15:07 LOL
Seems like the companies with the most experience have the most to learn.
In education, we talk about talented teachers with 20 years experience, versus rigid teachers with “one year’s experience- 20 times…”
All great points, but it's still hard to believe that anyone considering an expensive luxury car isn't paying cash.
Only drug dealers pay cash. OH! And plumbers...
Thanks man for being straight up
Did this man just state a Tesla model whatever, is "significantly more premium" than a Toyota Camry? 😂. Premium these days must mean gadgets and tech, definitely not quality and workmanship.
EV demand is falling, including Tesla. Thats why the price has been continually dropping for the last year. The 2022 Model Y performance was $70K last year, and the 2023 is $52.5K(before incentives)
The most egregious s the Model S Plaid. The 2022 was $141K, and the 2023 is $90k. 2022 model S Plaid have lost half their value in 1 year. (Advertised sale at retailers around $70-75K)
yep. Mr Musk planned to lower prices to sustain sales equal to production. He estimated dropping prices to zero profit to sustain sales, as long as that does not "harm the company." As interest rates remain high, expect lower price TESLAs.
Tesla is in trouble also , you might want to hold off on that Stock purchase
13:40 That used to be a Volvo dealer, where i bought my S60 exactly 11 years ago.
& once one chooses an EV. I have first a non Tesla. I quickly found out the charging infrastructure for non-Tesla sucks big time!! I then bought a Tesla in 2019 lrdm3. I had my first service appointment recently, and they came to me & it was free. I have over 100,000 miles, tire changes & window fluid. Charging a Tesla is next to flawless. I drive up plug in, do my shopping done. No hassle, like trying to get the charger to start fumbling with payment methods. Anyone who drives a non tesla ev knows what I'm talking about it sucks.
Electric vehicle maker man bad, upvoted!!!
Only applies in the USA. EV sales everywhere else are booming. The USA needs to get out more :-)
From what I've heard from other auto commentators, EV repairs are a nightmare in terms of costs and of course the availability of parts, no matter where you live. BTW, as much as it is definitely a bad sign for the economy, it makes me happy to see these shyster dealerships over loaded with cars they can't sell, especially after for the past few years when they and the manufacturers were gouging customers with up to 20-30% markups! BTW, great presentation. Love your show.
GM will be selling more EV models by 2025. Not more EV units. That is exactly what MBB is talking about.
SAM - the average NEW car sale price is $48k, but both the TESLA model 3/Y are priced Below that.
only Legacy auto charges more for BEV with an ASP of $58k . embarrassing.
Dang, actually watched the entire ad for Bluetti. Looked for a discount link, no joy.
Tesla need some real competitions from its Chinese rivals, this will eventually benefit the consumers in the N. American market.
Remember when Jim Farley was making jabs at Tesla with that POS F150 Lightning 😂😂😂
"Take that Tesla" - Jim Farley
🤣🤣🤣
now F150 Lightweight sitting on lots Rusting.
Thank you for making these videos
I don't have to interact with the algorithm and keep being fed nonsense because I responded negatively in a comment.
The intro to this show should by Sam making out with Elon, “….oh Elon I’ll follow anywhere”
Bought a used pickup last Sept. Wasn't the best deal ever, but I'm glad I did. Interest rate was 4.9%😢. No one I currently socialize with has bought a vehicle this year, no one!
Kinda funny, at 10:45 the dealer is literally obfuscating the contract with keys and toys.
lol I didn't notice that, that is pretty funny
@@SamAlexanderRUclips HEY BULLSH1T ARTIST I MEAN MAN BUN....EV'S ARE INFERIOR TO ICE IT'S AN OLDER TECHNOLOGY ELECTRIC VEHICLES PREDATE GASOLINE VEHICLES IT'S A MORE OUTDATED TECHNOLOGY IN REALITY THEY'RE ARE LESS WATER RESISTANT AND MORE DANGEROUS DUE TO BATTERIES HARDER TO PUT OUT ALSO MORE COSTLY DUE TO HIGHER INSURANCE PREMIUMS AND THE NEED TO REPLACE TIRES MORE OFTEN AND THE PART SUPPORT IS TOTAL DOGSHIT PEOPLE WAITING WEEKS/MONTHS FOR THEIR TESLA TO BE REPAIRED LOL AND ACTUALLY PUBLIC FAST CHARGING IS MORE EXPENSIVE THAN GAS AND IF YOUR BATTERY DIES THAT COST MORE THAN AN ENGINE AND TRANSMISSION REPLACEMENT IN AN ICE VEHICLE DONT FORGET FASTEST CARS ON PLANET ARE STILL ICE ITS INFERIOR OUTDATED TECH ALL AROUND TOTAL CRAP REASON THEY DIDNT CATCH ON 190 YEARS AGO KID.
CNBC: NOT GROUND ZERO
Even for automotive purposes electric motors have been used for well over a hundred years. Just because legacy manufacturers have chosen to deliberately not to develope them in modern mass market family cars does not mean they are starting from ground zero. Before the Tesla car company ICE cars had batteries, alternators., electric starter motors, wiper motors, seat adjustment motors and the like.
Also the charging network is non existing, i can not charge reliably, so i have to return home to charge.
$400 Billion. . . for context, what is that in Olympic Swimming Pools one Football Fields?😊
I give thanks to your research. All voices should be heard.
Why I dont why watchthe news anymore.
I'm at Target RIGHT NOW watching a line of FOOLS waiting to charge their electric cars in the corner of the parking lot so that they can make it home. They'll wait in line for an hour, lol. What kind of way to live is that? Morons.
Exactly they are not practical, govt, epa pushing this dowm out throats.
Thanks for calling CNBC out on their BS reporting.
They gloss past the point that the majority of the EV's that are pulling up are with companies that are notorious from questionable quality, depreciation and recalls with a product that's new to the manufacturers! Product that's overpriced, not really that compelling or competitive. Motortrend just gave a $65k Chevrolet Blazer EV SUV of the year. You fluid but a much nicer, less expensive ICE for less. I think ALL legacy are banking on this. Lol. What threshold of Tesla's high margin, nimble, cost effective manufacturing, DTC model is he speaking on? Tesla's is not even playing a similar game on a similar field.
And Chevy will sell - to an actual human customer - about 12 BlEZers in 2023.
@@FrunkensteinVonZipperneck 🤣🤣🤣 I think they're already stacking on dealer lots
That cnbc clown didn’t mention that we had a millennia of experience with horses before ICE vehicles came along.
it only took 13 Years to replace Horse w/ cars (Electric).
There is only demand for Teslas, in the US, because Tesla can cut its prices to stimulate that demand and the other auto makers cannot. This does not mean Tesla isn't feeling the economic pinch, like all the other manufacturers. Tesla IS slowing down on their expansion plans...no different than Ford and GM.
But not losing money on each and every sold EV...
@@brilanto
But losing profit on every EV sold. 🙂
We're starting to see news that ice vehicles are piling up on dealerships as well.
Teslas don't have depreciation?!? Dude, Elon has turned his owners upside-down by 10 to 30K on every car over the last 6 months!
Actually, they are kind of at Ground Zero, In the definition of Ground Zero that’s the zone of complete destruction.
Is this 5 year cost of ownership chart 12:06 really valid? I've heard insurance is more, repairs are more expensive, buyers are concerned about the life of the battery and/or battery repairs when out of warranty and resale values are less.
"heard" from whom? I "heard" from many people who never drove a Mercedes that "Mercedes have the highest repair costs." Simply not true for my (ICE) Mercedes.
@@FrunkensteinVonZipperneck you just made my point.
CCS charging becoming obsolete in the US is a big component as well
Thank you Sam, it’s good to know your actively seeking to destroy these myths 👏👏👏
616 billion wasted? imagine that invested in ordinary cars. We could have had quality, good looking , dependable cars. The CEOs of our companies are morons.
CNBS is definitely full of it.
Thanks for the info Cleetus
Working at an dealership was the dirtiest job job I ever had. A nice Nissan dealer. The lowest character sales people I’ve ever met. Finance people were scum, well dressed scum. Unlike the finance industry which is regulated, car finance guys can and will lie directly to the consumer. Money was their passion, their holy grail. I was fired for advising a young couple to think about buying a car they could really afford. I wasn’t a “good” fit. Most people have no idea.
Your thumbs up counter is not working! 🎉
:(
i believe you except that somehow 'aptera' has managed to sidestep the dealership requirement or did i not understand what you said. the waiting list is passed 46k
That is the case everything related to EVs. Tesla is in a class of thier own but people always lump all EVs as equal. That is like me saying all ice cars get bad gas mileage around 16 mpg but that would only be towards trucks.
Yeah. A gasoline HUMMER is typical of all ICE vehicles. The same logic wails, "EVs are too HEAVY!" 'cause an EV HUMMER weighs 400 kilotonnes 🤩
I use bluetti for charging my Ebike batteries.
Tesla 12v can't handle the load, so using this allows me to charge Ebike battery while trickle charging bluetti
You are a great voice in this space! The revolution will be televised!!
If it wasn't for their substantially higher price tag, rising insurance costs, lower range & associated range anxiety, insufficient & unreliable charging infrastructure, poor resale value, significantly higher repair costs, elevated fire safety concerns, high cost of battery replacements, the lack of a battery disposal solution, that electricity rates will rise along with EV adoption rates and the fact that they're not the CO2 panacea they claim to be, I would totally be a fan of EVs. I'm 61 and I don't believe EVs will improve enough in my lifetime to ever warrant owning one.
Agreed. Let reality be your guide. EV fans don't see the big picture.
You should probably redo your research. Seems like it’s 10-15 years out of date.
Chances are, you never believed that a psychologist could help you learn to manage festering worries...
Hmmm, remove dealership franchise laws and all of a sudden, a freer market.
I just bought a new RWD Model 3. Its standard features are way ahead of any EV and most ICE cars in the price range. I did everything online and was in and out of the delivery center in 15 minutes and wasn't pressured into buying an extended warranty or rust protection scam.
We hate dealerships, your right, but we hate range anxiety and EV fire risk and battery replacement cost just make dealerships a wiser choice.
I agree, high interest rates are the big problem.
But also hurting this years EV sales is that non-Tesla EV buyers are waiting for the better models coming out in the next few years as other EV makers begin to catch up to Tesla. This is the Osborne Effect which happened as PC computer technology ramped up, and now can also happen with EV's as next year's models are so much better than last year's that people defer orders.
Also very important is that many non-Tesla EV's will soon be able to use Tesla chargers, and get Tesla charging ports in their EV's. So range anxety, which is perhaps the second biggest sticking point for EV buyers, will begin to get much better.
As soon as charging the stupid thing happens as fast as filling a gas tank I might consider it.
Sam is now salesman too. 😂
I like my DIY solar power bank for home. Better than Bluetti and Ecoflow are the new kids on the block.
Introducing Anker and Segway.
My little Segway 1000 has 2200/3000 watts of power. Double the watts of others
14:39 I don’t think America is the land of the freee lol they have so many restrictions lol no other country in the would lets business do this. Government protect what the customers wants and businesses need to comply 😊
Right on Sam! For them to vomit all those statistics at the beginning of their video but not provide one of the most important car buyer statistic, interest rate, is classic. Like, they pretend to have done all this crazy homework, but have chosen to ignore the most important subject.
It's a clear sign of manipulation. IMO, if anything, when you look at all the BEV statistics against interest rates, you should see the current take rate as bullish! People are buying regardless of having to pay twice as much for borrowing. Crazy!
The $616 billion came from a report last year. The author took the numbers from press releases and financial reports from the auto industry.
I grew up in Motown. Ask anyone if GM is innovative. No, they are moribund and still pay million dollar salaries for pretending are.
GM sells 3-4 times as many cars as TESLA. GM has a hundred times more "executives" than TESLA.
Ground zero with electric cars are clearly false. It’s more than 25 years ago when Toyota made Prius a mass market car. I drove a Tesla Roadster in 2010. It’s been a while,
Ummmm, you could buy EV mail order from SEARS in 1890's USA.
A quarter century on, Toyota STILL refuses to increase Prius production above 2% of total. How much money does Toyota lose on each Prius?
@@markplott4820 That's how I bought my house in 1910!
here in Sweden they don´t sell it at all anymore. @@FrunkensteinVonZipperneck
Car sales in general are down and will continue to fall. Many businesses are feeling the impact of lower visitors and sales. Home sales are slowing down,etc.
Tesla and Hyundai/Kia are doing very well with EVs. All the other manufacturers have made vehicles that are more expensive, have less range, be and are less capable. No surprise that crappy vehicles don't sell - that applies to ICE and EV vehicles.