Davin News Server

On 2024-06-16, CaLaVeRa <cv@invalid.org> wrote:
> On 6/16/2024 1:28 PM, Alan wrote:
>> On 2024-06-15 22:34, JTEM wrote:
>>>   Alan wrote:
>>>
>>>> On 2024-06-15 16:28, AlleyCat wrote:
>>>>>
>>>>> Gov. Whitmer Touted 12,000 EV, Battery Jobs. Billions Later, Only 
>>>>> 200 Were
>>>>> Created
>>>
>>>> What you leave out is that it was only in 2022...
>>>
>>> Lie. It's pretty consistent, across the board, where the claims
>>> regarding ANYTHING "alternative" fall far short of the reality.
>>>
>>> They want you to believe that their future, the one they are
>>> willing to allow us, is going to be exactly like the present
>>> only all our energy will be coming from windmills, and everyone
>>> will be driving EVs.
>>>
>>> This is never going to happen. It can't and they don't want it
>>> to.
>>>
>>> I remember when EVs came out I pointed out how they do one
>>> thing and one thing only, and that's raise the price of cars,
>>> price people out of cars.
>>>
>>> It worked. They priced people out of cars. People are poorer.
>>> They can't afford as much. Which, by definition, means they
>>> are poorer.
>>>
>>>        ...they claim that a Dodge Hornet has something like a
>>> "600 day supply." Which means that, at the current rate of
>>> sales, it'll take 600 days to clear all those cars off of the
>>> dealership lots.
>>>
>>> The Ford F series lost about 250,000 sales. In 2023 they were
>>> down to 750k units.
>>>
>>> People are priced out of cars. This is a trend that will
>>> continue. The divide between the Haves and Have-Nots will
>>> rapidly expand into a canyon of pain.
>>>
>>> This is all thanks to the policies you endorse here.
>> 
>> New car sales are down because cars are lasting far, FAR longer than 
>> they used to.
>> 
>
> Nope.
>
> That is already baked in, has been for the past 20 years.
>
> Try again, liar:
>
> https://finance.yahoo.com/news/used-car-prices-fall-again-in-april-down-nearly-17-from-pandemic-highs-162758735.html
>
> Kelley Blue Book estimates Americans purchased 35.9 million used 
> vehicles last year from dealers and private parties, just below 2022’s 
> 36.3 million. Used vehicle purchases more than doubled new retail sales 
> last year, which KBB estimates hit 15 million vehicles.
>
> Manheim also noted weakness in the EV market in April, where automakers 
> like Tesla (TSLA) are cutting retail prices, hurting prices paid in the 
> used market.
>
> The firm noted that seasonally adjusted EV values last month were down 
> 17.5% from the prior year. For non-EV cars, prices fell 13.1%.
>
> Still, KBB wrote in a report last week that lower prices aren't expected 
> to boost auto sales figures, which have held steady in recent months.
>
> Data from the Bureau of Economic Analysis showed that in April, car and 
> light truck sales came in at an annualized rate of 15.7 million 
> vehicles, down modestly from a peak rate of 16.1 million in December. In 
> the years before the pandemic, auto sales tended to float between an 
> annualized rate of 17 and 18 million vehicles.
>
> "The Conference Board Consumer Confidence Index declined 5.9% in April, 
> as views of both the present economic situation and the near future 
> declined. Consumer confidence was down 6.5% year over year. Plans to 
> purchase a vehicle in the next six months declined from last month but 
> remained higher than a year ago.”
>
> https://money.com/used-car-prices-decline-prediction/
>
> Experts predict that used car prices could decline by as much as 14% as 
> the market recovers from supply disruption issues that sent costs soaring.
>
> A new report from CarGurus states that used and new vehicle prices will 
> likely moderate this year and for the next several years. According to 
> the online vehicle marketplace, there's a lot of room for prices to fall 
> if vehicle inventory returns to normal volumes, as expected.
>
> Why used car prices are falling
>
> Used vehicle prices are falling in part because high auto loan rates are 
> scaring away potential buyers.
>
> In a separate report on Friday, Jonathan Smoke, chief economist at Cox 
> Automotive, said that “demand is tepid at best, as shoppers just don’t 
> have any urgency to buy in the current economic environment.”
>
> The average auto loan interest rate for used vehicle purchases was 11.9% 
> at the end of 2023, up from 10.4% a year earlier, according to Experian.
>
> Also, the used market had been competitive for years because there was 
> such a lack of supply of new vehicles. Now that new vehicle supply has 
> bounced back, more buyers are shopping in that market again. Roberts 
> says the effect is reduced competition for used vehicles.
>


People are buying cars.
They just aren't buying ev cars.
The potential early adopter market has dwindled as people learn the downsides of owning an ev.

-- 
Charlie Glock
"No free man shall ever be debarred the use of arms"
-  Thomas Jefferson 1776