-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
The demise of the OEMs
- Thread starter Buckminster
- Start date
At 12:53, legacy dealers basically saying they can’t compete with Tesla.
navguy12
Active Member
After watching the clip, I was actually surprised that the interviewed dealer principle (after all his measured rhetoric about “moving too fast” and “aspirational goals”, etc) reluctantly agreed that he wouldn’t want to give up his EV and return to an ICE.
I also think legacy is hoping the EV mandates will go away after this next election so they can cancel their EV plans altogether.
I believe this is what legacy is banking on. May give them a little reprieve until Tesla and China take over in the long run.
navguy12
Active Member
FWIW; in southern Ontario, there is a six to 12 month wait for Hyundai EV products.
The advertised prices are for paying via financing; if one wants to pay cash the price is higher.
Doggydogworld
Active Member
Suspicious. Especially the claim that Hyundai is publishing fake numbers.
If dealers get stuck with inventory of unpopular models, as sometimes happens, they will eventually dump them at a loss. But they never order any more unless the OEM takes care of them.
Knightshade
Well-Known Member
GM who continues to lead the industry in EV related promises and press releases, but not so much in actually making or selling EVs, withdrew their 2023
guidance about an hour ago due to the strike.
I mean, not REALLY due to the strike, since they were already HILARIOUSLY behind any targets they'd set going back at least 5-6 years now, but it's a
great excuse to use for withdrawing the current versions of their totally unrealistic stated goals.
"GM is abandoning a goal of building 400,000 EVs from 2022 through mid-2024"
"We're just not going to be talking about the interim production goals"
"The company has joined other automakers in urging the Biden administration to
back away from ambitious emissions and fuel economy rules aimed at pushing EVs
to two-thirds of the U.S. vehicle market by 2032."
They even say the quiet part out loud here:
"GM said profits for the quarter were pulled down by $1.5 billion because of
higher costs and the impact of selling more EVs"
They never intended to scale EVs- they lose $ on every one, they can't AFFORD to hit, or come remotely near, any of the imaginary goals they've been tossing out for years now and they're using the strike as an excuse for pulling em back.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/WOOTWVVLSROT3OKKZT2IYSPDZQ.jpg)
www.reuters.com
guidance about an hour ago due to the strike.
I mean, not REALLY due to the strike, since they were already HILARIOUSLY behind any targets they'd set going back at least 5-6 years now, but it's a
great excuse to use for withdrawing the current versions of their totally unrealistic stated goals.
"GM is abandoning a goal of building 400,000 EVs from 2022 through mid-2024"
"We're just not going to be talking about the interim production goals"
"The company has joined other automakers in urging the Biden administration to
back away from ambitious emissions and fuel economy rules aimed at pushing EVs
to two-thirds of the U.S. vehicle market by 2032."
They even say the quiet part out loud here:
"GM said profits for the quarter were pulled down by $1.5 billion because of
higher costs and the impact of selling more EVs"
They never intended to scale EVs- they lose $ on every one, they can't AFFORD to hit, or come remotely near, any of the imaginary goals they've been tossing out for years now and they're using the strike as an excuse for pulling em back.
GM withdraws 2023 guidance as UAW strike costs soar
General Motors on Tuesday withdrew its previous guidance for 2023 profits and near-term electric vehicle production as costs related to the United Auto Workers strikes jumped to $200 million a week during October.
www.reuters.com
I remember my brother would do a bad job at his chores so that we stopped asking
And then I would have to do them
I played the part of Tesla
My brother played the part of GM, Ford, Stellantis
And then I would have to do them
I played the part of Tesla
My brother played the part of GM, Ford, Stellantis
Doggydogworld
Active Member
Everyone loses money on EVs while scaling. Even Tesla.
It's not GM-specific. No legacy OEM has achieved EV scale without mandates. And no legacy OEM materially exceeds their mandates.
BrownOuttaSpec
Active Member
So if you take the relatively flat growth of GM/Ford over the last 5-8 years and put inflation on top of it does that mean that their revenue is being propped up by inflation ? For example 23% aggregate inflation in the US since Jan 2020:
Knightshade
Well-Known Member
Tesla, somewhat famously, had a positive gross auto margin back in Q4 of 2012- just months after initial deliveries of Model S began.