Featured EV inventories at 2x industry Avg?

If you have any worthless Tesla stock, I’ll take it for less than “350%” off. I’ll buy it for the average January 2023 price.

Bob Wilson

 

They do mention Tesla in the article in relation to their price drop changing sales of electric Mustang, but in general this article comes across as lazy sloppy journalism that seems to rely on self reporting from the Stealerships rather than actual verified data. I'm gonna go research their reference of "Cox Automotive experts highlighted the swelling EV inventory"

Maybe there's some truth to it but to report about EV car inventory while excluding the number one selling cars in the world because they don't pile up unsold cars on lots like Stealerships do make the entire premise of the article dishonest.

So I'll write this off as a rumor and I'll be eager to find a more credible analysis...

It kinda smells like a problem similar to the housing crisis with record numbers of homeless people that's causing a huge boost in developers building above market rate luxury apartments and housing tracts that people most in need of housing can't afford. As in the prices of an EV are still something you need to be in the top 1% to afford... Like on Saturday, I saw a Lucid EV drive past me and it was beautiful but my first thought was, "I'd rather spend that fortune on being a homeowner."

Of course like too many others in the US, My student loan debt from college and grad school eliminates my ability to buy an EV or house.

 

Here's a June 30th press release from the cited source that's way more honest and nuanced than this Journalist's crass spin of lack of demand for EV:

“Up until now, this has been a Tesla, Nissan, GM story and a little bit of Volkswagen,” he told Automotive News. “The critical point is that it finally means something in every part of the industry, but it also means we’ve got ample opportunity to find where it’s successful and where it’s not quite as successful.” Dealers’ average EV supply climbed to 92 days in the second quarter, up from 36 days a year earlier. EV inventory soared to more than 92,000 industrywide, compared with less than 21,000 in the second quarter of 2022. New-vehicle supply industrywide was 51 days." https://www.coxautoinc.com/news/ev-inventory-reaches-critical-mass-in-u-s/

 

If I were a car manufacturer like Tesla Kia Hyundai, would I rather be selling 100's of thousands of cars per quarter with a 90-day inventory? Or like some manufacturers - a thousand per quarter with a 30-day inventory ......
.

 

Inevitable, given that they all used the same strategy of building luxury EVs before anything else.

And I can't say I'd blame them, they all want as much revenue as they can get out of as few units as possible.

 

Around here, there isn’t any inventory period.

what geographic region must I travel to, to find a selection of ev’s on the lots, Cali?

as far as hybrids are concerned, it’s not that demand is higher, it’s that supply is lower

 

New Car Models That Sit on Lots the Longest
Lowest days of supply on the list was 99, and they nearly are all premium brands.

Of the EV long supply examples, many were also cut off from the federal tax credit.

I wonder if it is also a selective definition of hybrid being used.

"Non-luxury brands with the highest inventory were allStellantisbrands, in descending order, Jeep, Ram, Dodge and Chrysler."
https://www.coxautoinc.com/market-insights/new-vehicle-inventory-december-2022/

The Jeeps and Rams with an eTorque, a base engine for many, are hybrids.

 

Doesn't seem to be an issue around here.

 

If only all 8 billion us could seize and rapidly liquidate the wealth of the 1000 richest people on earth and divide it evenly among ourselves and give them a shopping cart, food stamps and a tent in place of it and then we could all afford to buy EVs and probably a house too. And with the level of worker strikes going on these days, maybe that might happen sooner than we think and history won't remember this era as climate change, but as the end of billionaires who were destroying the planet.

 

Somehow this thread reminds me of this variant of my favorite Internet cartoon:


Bob Wilson

 

“High Inventory “ even though we are no where near high inventory levels of the past?

sure whatever, more inventory is better for consumers

The wealthiest 1% (more like .001%) actually have a large effect on inflation.

A lot of the boundless cash outlay goes to there to sit, the idea of cash injections making 10x the impact only is true (normally) if it goes to the poor.

The big exception being the shadow bank bailout that created a wreck less land and real estate bubble and strange stock bubbles.

Interesting times

 

last year in the US 750,000 BEVs were sold, most of them teslas. Here the authors seem to be deciding that because tesla doesn't have dealerships, then it should not be counted. That is just lazy. Tesla's production capacity increased and pricing decreased versus last year. Of course this would increase inventory at non tesla dealerships that sold better last year, because there was a shortage of teslas.
US: All-Electric Car Sales Surged In January 2023 - 7% Market Share.

I am sure inventories increased versus 2022 when there was a big shortage of BEVs, but inventories when considering all bev manufacturers that sell in the US are not high.

 

Thank you! I thought that was a bit ...off when I read it. You called it out better.

 

I remember when early by July you wanted 4 months of inventory of top sellers to be “healthy “

Now 90 days which was historically considered edge of lean is too much, lol.

It’s not the end of year clearance yet

 

Speak for yourself.

If I need more wealth/money I'll work for it and earn it. I don't want to be given it, most especially if it belongs to someone else.

 

IE the whole article is just another big fat red herring
.

 

Hummm, maybe not.

This "inventory glut" might inspire some reluctant members to finally drive a hard bargain for an EV. Yea, go see your favorite EV dealer and get one now that excess inventory has made it a buyer's market. Tell them, "the Internet sent me."

Bob Wilson

 

if one person could post one dealer with high bev inventory, i would be forever grateful.

92,000 units sure sounds like a lot, even if it is in multiple regions.

a 101 day supply of bz4x is probably a dozen or so