Car Dealership Guy’s Post

Several top #automakers have had strong year over year growth with #electricvehicle sales from 2023 to 2024. These are the top sellers of quarter 1 in 2024. Although Tesla has had a decrease in sales, other automakers continue to find new success in the new market. #BEV https://lnkd.in/e5Wkp5xE

Tesla Expects An Awful Sales Report For First Quarter Of 2024: Good morning! It’s Friday, March 29, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Read more... #car #cars #awesome

According to Bloomberg, "For every sign of an EV slowdown, another suggests an adolescent industry on the verge of its next growth spurt. In fact, for most automakers, even the first quarter was a blockbuster. Six of the 10 biggest EV makers in the US saw sales grow at a scorching pace compared to a year ago — up anywhere from 56% at Hyundai-Kia to 86% at Ford. A sampling of April sales similarly came in hot." The article concludes, "If the global market for EVs continued at this “slowdown” pace indefinitely, virtually all new cars sold would be electric in a decade."

DETROIT (AP) — Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to lure more buyers. The Austin, Texas, company said Tuesday that it delivered 386,810 vehicles worldwide from January through March, almost 9% below the 423,000 it sold in the same quarter of last year. It was the first year-over-year quarterly sales decline in nearly four years. Sales also fell short of even the most bearish Wall Street expectations. Auto industry analysts polled by FactSet were looking for 457,000 vehicles deliveries from Tesla Inc. That’s a shortfall of more than 15%. The company blamed the decline in part on phasing in an updated version of the Model 3 sedan at its Fremont, California, factory, plant shutdowns due to shipping diversions in the Red Sea, and an arson attack that knocked out power to its German factory.

Desirability, affordability, and dependability matter, and automakers need this balance. My employer, the City of Charlotte, has most often bought Ford and some GM vehicles, but it has recently purchased its first Tesla Model Y, which now starts as low as $43,990. As people's awareness and experiences of EVs grow while EV prices decrease, I expect automobile purchases to shift to EVs, including transitions in automakers, based on product availability, price, service, dependability, and access to reliable, convenient, fast charging. Experiences shift purchases. I grew up with GM, but my Mom transitioned to Honda in ‘99, and she has stuck with them since. My last GM was a ‘96, which was problematic; service and support were worse, and letters to GM offered no response or resolution. For a while, my wife and I drove VWs, but we were dissatisfied and transitioned to Honda ourselves for the last fifteen years. As a result, our oldest daughter has bought two Hondas, one earlier this year. Our oldest son drives a Honda, too. Recently, I purchased the cheapest new Tesla Model 3 RWD I could find, paying $36,000 before fees, taxes, registration, and incentives, which my wife encouraged me to buy. Our daughter now wishes she had bought a Tesla, too, instead of her Honda, and our youngest son is saving for Tesla’s upcoming low-cost model as his first car. Markets will shift to desirable, affordable, dependable vehicles. It happened with Japanese cars, then Korean cars, and Tesla, and will likely soon include a shift to Chinese EVs made in Mexico and sold in the US.

Fill in the blanks. Americans are EV _______, but first they need ________. The news: Toyota stock is approaching an all-time high thanks to 1 major bet made 25 years ago. Meanwhile, the stocks of Ford, GM, and Volkswagen’s are all down. Even Tesla’s down nearly 50% from its ATH. They all invested big in EVs, but EV sales growth is slowing (Remember: “Premature Electrification”). Except for Toyota — The stock is up nearly 50% since the start of 2023. Because Toyota made a different bet — Hybrid. We filled in the blanks for ya on today’s show. To hear what Americans need watch/listen here: https://lnkd.in/gCMnKNtr  Or if you like to read: https://lnkd.in/gQ9XcM_V

“I think it was overhyped and now it’s probably underhyped,” GM CEO Mary Barra said on the US outlook for EVs 🤷♂️ For every negative PR on EVs, there’s usually a positive data point around the corner… Exciting new technologies tend to invite two sides to the debate (no, not referring to politics, but leaders and laggards). After all, it’s what keeps the category fun to watch for both, outsiders & insiders. Here’s the facts: - For six of the top 10 brands, growth topped 50%+ in Q1⚡️📈 - GM has committed to electrifying some of its biggest brands, which are finally reaching production including: $35,000 Equinox SUV and its sibling Blazer; Silverado EV, and GMC Sierra electric pickups with up to 450 miles of range - This year Hyundai, GM and Ford are each on track to reach that 100,000 threshold of mass production, a potential turning point for US EV competition - Stellantis is expected to start selling its first electric Jeeps and Ram pickups - Hyundai is unleashing a diverse stable of EVs for its new factory opening in Georgia in October - Honda just started delivering the Acura ZDX and is building a production hub in Ohio for additional EVs coming in 2025 - “If the global market for EVs continued at this “slowdown” pace indefinitely, virtually all cars would be electric in a decade.” Yes, in a bear case scenario where growth remains at this pace, EVs are still on track to dominate the auto market now - 2030. Xeal Kirsten Swanson Regan Hartley Danny Fawcett Sean Steele Helen Bowman (Revell)

This is an excellent discussion of EV profitability and EV Start-Up vs Legacy OEM initiated by Steve Gutmann. There's plenty more debate to follow in the comments section https://lnkd.in/erMTY6GF

Tesla’s sales are down, a sign that its position in the electric vehicle market is weakening https://lnkd.in/exenpUGg #TeslaSalesDown #EVMarketShift #ElectricVehicles #MarketCompetition #TeslaVsBYD #AutomotiveTrends #SustainableTransport #TechInnovation #AutoIndustry #ElonMuskLeadership

🏭➡️🚗 Why You Don't Buy Directly from Car Manufacturers: Lack of Infrastructure: Manufacturers typically aren't set up for direct sales. Tesla's Struggle: Even with a direct model, Tesla faces significant challenges. High Cost to Change: Revamping the system to direct sales is prohibitively expensive. Price Instability: Without dealers, car prices could fluctuate more dramatically. No 'Market Adjustments': Direct sales could eliminate competitive pricing tactics. Service Shop Expenses: Dealerships absorb the high costs of running service centers. #CarBuying #AutoIndustry #DealershipAdvantages