Why EVs Are Piling Up At Dealerships In The U.S.
Why EVs Are Piling Up At Dealerships In The U.S.
In August 2023, it took about twice as long to sell an EV in the U.S. as it did the previous January. Prices of EVs are down 22% year-over-year and that’s mainly driven by Tesla. About two thirds of EVs sold are Elon Musk’s brand. Companies like Ford have ramped up hybrid production as demand has leveled off. While slightly more than half of consumers say EVs are the future and will eventually replace Internal Combustion Engines, less than a third of dealers say so. This all comes at a time when investments in EVs are more than ever. So what’s really going on? Watch the video to learn more.
Chapters:
00:00 — Introduction
02:06 — Shifting preferences
05:48 — High costs and uncertainty
10:38 — A trend of a blip?
14:08 — The future
Produced by: Robert Ferris
Edited by: Dain Evans
Camera by: Shawn Baldwin
Senior Managing Producer: Tala Hadavi
Animation: Christina Locopo, Andrea Schmitz
Additional Footage: Ford, Getty Images, Lucid, Mercedes-Benz, Tesla
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
Why EVs Are Piling Up At Dealerships In The U.S.
Because the Biden administration is attempting to cram "Green" down Americas throats without planning, infrastructure, reliabilty, and ENVIRONMEMTAL concerns about Lithium Ion batteries and the effect on our economy. This was a total cluster-F!!!
Dealers are to blame.
As the sheep get slaughtered at the wallet
Why has the insurance premium gone up well it’s down to electric cars and the traction battery pack. If an electric car has been in a road traffic accident the insurance company will write the electric cars off as they feel the traction battery pack has been damaged and the reason for this is down to the fact that the traction battery pack forms part of the electric cars chassis and so as far as the insurance company is concerned the traction battery pack has been under stress and has been compromised during the road traffic accident. So to compensate for this the car insurance companies are loading up everybody’s insurance premium petrol/ diesel and hybrids alike.
Nobody wants them. Most folks can’t afford them. Also;; It costs money to draw a “dedicated charge line” from your home ( if you have the ability to do so). They are unreliable in cold weather and for people who need to travel over long distances. The electric grid as constituted today can not handle the demand. And the bottom line; YOU STILL NEED OIL TO PRODUCE THE ELECTRICITY TO “FUEL” these vehicles. Not to mention most of the goods and services we buy routinely …. If you think a bunch of solar panels and big fans are going to do the job (in 2024) you’re in for a rude awakening. The ideology is good. BUT, “you can’t put the cart before the horse!!”…..
If you believed that fires can cause two skyscrapers to turn into dust then you should be concerned that an EV could cause similar problems
exactly why I don’t want EV until they figure out the charging infrastructure I do not want to have one.
Zero infrastructure
And! AUSTRALIA 🇦🇺🤣🤣🤣
Because dealerships don’t want to lose repair cost of ICE engines.
Think of it this way. Kodak invented the digital camera and yet refused as they claimed they made millions from film.
Same with Eureka when Dyson approached them about a canister vacuum versus bags. Eureeka’s reply was why would they want to lose tens of millions of dollars in replacement bag cost and go to a hard canister.
So electric cars have fewer parts to replace and a dealerships know they will lose about 50% of their Revenue if they go electric.
They could either learn from history or be history and go the way of Kodak. Eureka adapted and survived real quick.
Ill keep my gas combustion engine, no need to wait couple hours to fill up
The tesla model y was the most sold vehicle on the planet the last 2 years running. Look it up
STOP COMPARING ICE TO EV. JUST BECAUSE IT HAS 4 WHEELS DOESN’T MAKE IT THE SAME OR COMPARABLE.
Why EVs? EV chargers are still using fossil fuel. Where do people think electricity comes from?
Maybe if we gave americans disposable income in their wallet (looking at you state and federal government) then maybe Americans would actually want to switch over, these price decreases are helping drive up that demand but the main reason the demand is not meeting the supply is because the American people don’t have the money to invest in this awesome green future.
In 30 years an evs battery will be junk, but a car 30 years ago can have its engine breath life again
Because EV cause more long term damage to the environment compared to petro and diesel
You shouldnt need a instructions to start a car. Greed will collapse our society
Those cars are for the rich not for the poor, That’s why the Fk China kick our As. Thur
Listen to yanina’s words. Why is it another shining light for EV’s ? Because people are willing to accept EV’s go less distance than an ice vehicle ? Weird. 15:43
The problem is the economy has not kept pace. In fact the economy is in a dumpster. Just last month 645k people lost full time jobs. No cars are selling because people are broke. ICE vehicles have over a year of stock. The lighning was supposed to be 29k, but it came out at 39k then went to 50 then 70k.
it looks like the overcapacity of EV was only in the US (100days inventory) than in China or worldwide markets , the overcapacity is completely coming from the US ecosystem ? the key issues are : 1.) higher EV cost ( 2-3 times than China ) , 2.) poor charging environment and costly charging , 3.) short miles range ( its very common to have 500miles of EV at premium models) , but EV industry in China is the savior to help the US to revamp these issues , like the Japan companies in 1980. why not open the mind and accept China manufacturing into the US , this look like very similar limits in Taiwan , ruling party reject everything from China and cause higher cost of living .but the first thing I learned from the US is benefit of democracy is the completely competitive markets and enjoy the best products from the rest of world , it looks like the issues of drug abuse , gun abuse , poor welfare , uncontrolled treasury bond , military invasion to others , poor zero emission , poor mass transport system , and rampant illeagal migrants… in the US , which controlled by very small group of interest parties ( politicians , business owners)
What is battery degradation if you use 95 per cent of battery range? Makes no difference if i use 99 per cent of a gas tank
In my opinion, the reason for EVs not taking off is that they are no real game changers. Before there were cars, there were horses. Then cars came along, and were faster, didn’t get tired, etc. But people already have cars, and they do the job. So, changing from a gas-driven car to an EV doesn’t really add value.
Because it’s trash that’s why
Basically no one wants them
nwo
There is no way that National Grids can ever support more than a third of EV on the road.They are purely city cars and will not ever replace combustion engines.
I’ll think of getting one when you can charge it in 10 minutes and the charge lasts you 300 miles.
EV Are Piling Up At Malls,EV Graveyard 🪦 Nextdoor To Sears 😢
The average person doesn’t want these. If it becomes a law, I wont own a car. Gotta pushback towards this insanity. Yes its a good goal to have for the future….but that time is not now. Its a couple of centuries from now oriented goal.
EV’s will never be a large sales item.
The electric grid us no where near ready for even 50% EV ownership. California already has rolling blackouts in the summer months.
It’s because nobody wants them. Why should a free people accept a president and auto makers want to Force free people to buy
Who in the hell can afford to buy a new car EV or not! With the high interest rates and still climbing the immediate future doesn’t look good.
Stick shift v8 cars 😍😍😍
Stick shift i4 turbo cars 😍😍
Electric car 😟
Cost and not enough access to fast charging stations are limiting consumers to faster adoption to this new technology
NO One can afford it.
I keep seeing thes BS reports about how China is "winning the EV war" while they have gigantic fields filled with tens of thousands of brand new EV cars rotting away with license plates on them and fully registered. I seem to see more Teslas on the road every single month that goes buy. Everything these corporate news agencies report always has some sneaky agenda they are pushing. Just watched a report by VOX about how China is dominating the EV market…Oh are they really? Have you actually seen the reality on the ground in China? LOL take a look https://www.youtube.com/watch?v=1SEfwoqKRU8
Liberal lunacy
It’s inconvenient. Too long to charge and worse yet any repairs must be done at dealerships. Terrible deal.
Pointless tech and insurance expensive
BYD!! BYD!!! BYD!!!! BYD!!!!!
Because nobody wants them
Don’t want anything to do with it
Even the lefty liberals see the insanity of EVs.
WHAT HAPPENS IF WE HAVE WAR?
Something people don’t consider is that the world is in a bad state right now. If there was an all out breakdown (every man for himself) and you needed to get somewhere gas is easy to get, electric may not be. We may be using lanterns and fires to cook.
I’m not ever giving up my gas vehicle.
How you can say your ev will last 10-12 yeahs but built it 3 years ago says alot
Dont make a vehicle that the power plant is worth more too replace than the original car
Issue here is companies lobbying to eliminate ICEs instead of competing with them. Toyota wanted to make hybrids popular, they built a really good car for that, and that removed the image of hybrids as heavy, unreliable vehicles.
EV manufacturers should do the same. Quit greenwashing, and actually build a good car.
The real issue here is manufacturers unwilling to innovate and instead seek the easy way out.