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Why EVs other than Tesla are not selling
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- Опубликовано: 16 авг 2024
- If you are purchasing a Tesla, please use my discount code - ts.la/ted32106
I saw an article which said EVs are not selling. After looking into it, I know the reasons why.
no native NACS support.
I agree that is also an issue. Likely that many people are waiting because they think CCS will be obsolete and having adapters is an inconvenience, although I don't think it really will be.
Yeah, two main things caused this - the return to sanity of the overall car market, and the EV tax credit changes.
During the middle of 2022, when the supply of all cars was low, and average gas prices were over $5.00 per gallon, there was an artificial spike in EV demand. Automakers could sell every EV they could produce, and could charge what they wanted. Tesla raised their prices dramatically and legacy dealers were upcharging way over MSRP for their in demand EVs. Now, gasoline prices are lower, electricity prices higher, and interest rates are much higher. Gas cars are more available, and below MSRP. EV price gouging is over.
Today, the EV tax credit is even more important to buyers. The 2023 changes that the IRA made to the EV tax credits have been an absolute game changer. It’s been an instant $15,000 turnaround for Tesla vs. some of their main EV competitors.
At the end of last year, the Tesla Model Y LR AWD was $65,000 with no tax credit. The comparable Kia EV6 Wind AWD Tech was $52,400 with a $7,500 tax credit. That’s a difference of $20,000! Today, that Model Y is $50,500, and the $7,500 credit brings it to $43,000, the same EV6 is $54,100 with no credit. Now, the Model Y is $11,000 cheaper than the EV6!
As you said, Tesla was making huge profits on the Model Y, so they could easily lower the price. The legacy automakers are not making much, so they can’t lower prices without losing money. I went to pick up my Bolt from a service appointment last week, and stopped at a Kia dealer. In 2022, there were months long waiting lists and $5k markups were common for EV6 and Ioniq 5. The dealer I stopped at had 12 EV6s on the lot!
Tesla is killing the legacy carmakers.
Great comment! Insightful and exactly what I was showing in my Mach E example. I'm sure if I used the EV6 as an example it would have been similar. Bottom line is you can't go wrong with Tesla, especially now that so many manufactures are moving to NACS.
I think your observation is only the tip of the iceberg. First, the dealership network, you're back in the showroom dealing with the sales force - and what is their incentive to push an EV with so many ICE choices that they're more familiar with; Second, even a little research reveals the Tesla charging network is the benchmark; Ford's adapting the Tesla standard will help in a longer run; and, finally, I think we're still in the 'early adopter' stage of those who are willing purchase an EV - the average person who walks into a non-Tesla dealership is much more risk averse to take that plunge (IMHO). (Disclosure: I am a satisfied owner of a Tesla Model 3)
Great points.
Lack of a reliable Charging network
Yes I agree. Specifically for people who can not charge at home and those who make long road trips. Also the charging rate is something no one is talking about. Tesla's charge up to 250kW. Only Lucid and some Hyundai/Kias offer similar rates.