From Transport Evolved.
Listen to most major news outlets (and plenty of anti-EV sorts) and you’ll very quickly hear about massive numbers of electric vehicles sitting on dealer lots, with nobody willing to buy them.
Sometimes, the increased numbers of EVs on dealer lots are used to exemplify the conceit that nobody wants to buy electric vehicles and they’re nothing but a failure. Sometimes, it’s used to argue against world governments and EV transition goals.
But the fact of the matter is that EV sales are at all-time highs in many markets around the world, including the USA. And the increases of EVs sitting on dealer lots? That’s a symptom of a related problem that’s a little more complicated…
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00:00 – Introduction
02:47 – Fact: More EVs are sitting on dealer lots today…
03:15 – Sales are growing – but more vehicles are being made
04:02 – Mythbusting the claim
05:30 – Inventory is to blame due to over-production
06:08 – For the last 2-3 years, parts shortages made cars hard to obtain
07:06 – …and used EV prices soared as a consequence
07:24 – What about ATP?!
09:27 – During the height of the pandemic, most car buyers were on wait lists
10:04 – Automakers overestimated but…it’s because of PRICE
11:36 – How we lucked out in 2022…
12:25 – Auto intrest loan rates are dramatically different today than they were a year ago
13:02 – Interest rates are prohibitaive for many more buyers
13:14 – EV pricing still presents a challenge (even with savings taken into account)
14:34 – EVs DO save money in the long term, but unlocking that capital is hard
15:31 – ICE vehciles are easier to finance
16:02 – Automakers are to blame
16:38 – The ‘perfect storm’
17:25 – Wall street is to blame as well..
17:55 – Automakers don’t understand what customers really want
18:54 – Hyundai-Kia goes against the trend for a very good reason
20:31 – Thanks, and Goodbye!
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Script: Nikki Gordon-Bloomfield
Presenters: Nikki Gordon-Bloomfield
Editor, Colorist: Michael Horton
Art and Animation: Erin Carlie
Producer: Nikki Gordon-Bloomfield
© Transport Evolved LLC, 2023
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