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Old 11-30-2023, 02:17 PM   #1373
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Cliff Notes Main Point

Quote:
Originally Posted by BuckeyeROC View Post
3,882 Car Dealerships Ask Biden To Ease Throttle On EV Push

https://gmauthority.com/blog/2023/11...le-on-ev-push/
Representing all major brands that have operations across United States, the letter is composed of a total of 3,882 car dealerships voicing their concerns over the current push for EVs. In the letter, the dealers state that there is simply not enough demand to justify the influx of electric vehicles on their lots, which is creating a backlog.


Quote:
Originally Posted by bigd1276 View Post
Auto dealers call on Biden to hit brakes on unrealistic, unachievable electric vehicles mandate

https://www.msn.com/en-us/autos/news...te/ar-AA1kNtj9

Waiting for Martinjlm to spin...........
The auto dealers wrote that “the supply of unsold [battery electric vehicles] is surging, as they are not selling nearly as fast as they are arriving at our dealerships—even with deep price cuts, manufacturer incentives, and generous government incentives.”


3,882 is over 20% of the new car dealerships in the U.S.

Last edited by Iron Lung Jimmy; 11-30-2023 at 02:24 PM. Reason: Add'l info
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Old 11-30-2023, 07:12 PM   #1374
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If there was any question EVs will never be more than a niche outlier in the automotive industry, here’s your proof. GM’s buying back $10b in stock with finances saved by scaling down future EV investment:

https://www.msn.com/en-us/money/comp...69fd2263&ei=11
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Old 11-30-2023, 07:56 PM   #1375
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Quote:
Originally Posted by olrocker View Post
If there was any question EVs will never be more than a niche outlier in the automotive industry, hereís your proof. GMís buying back $10b in stock with finances saved by scaling down future EV investment:

https://www.msn.com/en-us/money/comp...69fd2263&ei=11
Their buying the stock back because itís down 28%, so basically, itís on sale.
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Old 11-30-2023, 07:57 PM   #1376
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Quote:
Originally Posted by bigd1276 View Post
Auto dealers call on Biden to hit brakes on unrealistic, unachievable electric vehicles mandate

https://www.msn.com/en-us/autos/news...te/ar-AA1kNtj9

Waiting for Martinjlm to spin...........
I don’t need to spin this. It is what it is. Thing is, Biden can’t mandate anything. And quite frankly, I sorta agree with the dealers. There should be a mix of hybrid, PHEV, and BEV. In that scenario buyers can buy the best vehicle for their needs.
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Old 11-30-2023, 08:03 PM   #1377
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Meanwhile, Tesla delivered the first 10 Cybertrucks after showing a video of a Cybertruck beating a 911 in a 1/4 mile, while towing a 911. In fact, the towed 911 crossed the 1/4 ahead of the racing 911. On one hand, nothing about the Cybertruck appeals to me, but ya gotta admit that was quite the epic stunt.
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Old 11-30-2023, 08:13 PM   #1378
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Quote:
Originally Posted by Martinjlm View Post
Their buying the stock back because it’s down 28%, so basically, it’s on sale.
They’re using much of their future EV development budget to pay for it.

Mary herself said they’re upping reinvestment in gas and diesel engines now.
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Old 11-30-2023, 08:15 PM   #1379
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[QUOTE=olrocker;11384395]If there was any question EVs will never be more than a niche outlier in the automotive industry, hereís your proof. GMís buying back $10b in stock with finances saved by scaling down future EV investment:

https://www.msn.com/en-us/money/comp...69fd2263&ei=11[/QUOTE]

So this is what a niche outlier looks like. #4 and # 12 in the US in sales this year. Also #1 and #4 in the world. Niche. Right.
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Old 11-30-2023, 08:18 PM   #1380
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Quote:
Originally Posted by olrocker View Post
They’re using much of their future EV development budget to pay for it.

Mary herself said they’re upping reinvestment in gas and diesel engines now.
They could do a number of things with the money they pull back from EV investment. Buying the stock back is a completely different decision path. They are buying it back because it’s undervalued. Corporate finance 101. If I had $10k for every time I can personally remember GM buying back stock I’d buy a C8.
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Old 11-30-2023, 08:20 PM   #1381
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"In that scenario buyers can buy the best vehicle for their needs."

FREEDOM!!

We've reached common ground.
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Old 11-30-2023, 08:38 PM   #1382
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Common ground on a tilted playing field full of subsidies, unrealistic regulations, and carbon credits.
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Old 11-30-2023, 08:44 PM   #1383
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Common ground on a tilted playing field full of subsidies, unrealistic regulations, and carbon credits.
Bingo!
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Old 11-30-2023, 09:02 PM   #1384
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Quote:
Originally Posted by bigd1276 View Post
"In that scenario buyers can buy the best vehicle for their needs."

FREEDOM!!

We've reached common ground.
Common ground indeed. But Iíve always been there. I think where I have had the most debates is pushing back on people who think BEVs shouldnít even exist. They do. They will continue to take market share. For a lot of use cases they are by far the best vehicle with the best value proposition. Thereís a reason why Model Y is a runaway sales hit. Itís fast as f***. Faster than most muscle cars. It has more storage room than just about any SUV its size or even larger. With the price drops Tesla has made in 2023 it costs less than a lot of comparable ICE vehiclesÖBEFORE the $7,500 credit. And the cost of operation is ridiculously low.

Iíve always said that people who live in multi-family dwellings with no access to a parking spot where they can reliably plug-in would be much better off with a hybrid. At least until the multi-dwelling charging is figured out. Ironically I was speaking with a company today who has a nice solution in place in Montreal.

Iíve said dozens of times that by the time people can no longer buy a new ICE car, I will be contained in an ornate urn on one of my kidsí fireplace mantles. But, and Iíve said this many times, the options for purchase of new ICE will be very limited compared to offerings available today.
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Old 11-30-2023, 09:26 PM   #1385
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Quote:
Originally Posted by Martinjlm View Post
They could do a number of things with the money they pull back from EV investment. Buying the stock back is a completely different decision path. They are buying it back because itís undervalued. Corporate finance 101. If I had $10k for every time I can personally remember GM buying back stock Iíd buy a C8.
Hey dude, Iím just going by the report in that article. It says theyíre buying the stock back with EV funds.

Glean from that what you will.
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Old 11-30-2023, 09:47 PM   #1386
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Originally Posted by olrocker View Post
Hey dude, Iím just going by the report in that article. It says theyíre buying the stock back with EV funds.

Glean from that what you will.
Itís all good. Iím not trying to be contentious, but Iím working from a slide that was shown during the review where GM pointed out their break even timing for their EV investments. It pretty much illustrates that spending is delayed, not cut. If I can find it again Iíll post it up. Now, the pullback on Cruise autonomous vehicle unit is another story. That funding may or may not ever find its way back.

***EDIT*** That didnít take long. Found it. I donít know how the writer of the article got shifting of funds from EV to buy stock from a presentation where GM showed the intent to INCREASE volume of Ultium powered vehicles, INCREASE the capacity to manufacture batteries and achieve profitablilty by getting EV volume to scale. This chart pretty much says the exact opposite.
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