Frank Agostino’s Post

Predicting the residual value of electric vehicles has been an auto industry conundrum. Though future EV values are uncertain now, they will be come clearer over the next few years as the used-EV market grows. C.J. Moore explains: Consumers, dealers, lenders and economists all want an answer to the same question: What is the best estimate of an electric vehicle's future value— Uncertainty about EV residual values has kept some consumers out of the market and discouraged lenders from financing leases. Tesla's series of price cuts on its high-volume Model 3 and Model Y stoked concerns about the trickle-down effect on used-EV values. ALG trimmed EV residual values this year to account for ongoing pricing volatility and increased incentive spend by Tesla, Ford and others. Market dynamics affect EV residual values over time. Though EV values seem uncertain now, they could become more predictable as sales grow through the decade, experts told Automotive News. More here: https://lnkd.in/eUU7mRdY Keep following for more on Automotive News EV Economics package. #ev #electricvehicle #evcost #evvalue #evresidualvalue #evfuture #evresiduals #evtradein #evtradeinvalue

In the weeks since the election, auto experts and citizens alike have wondered what the outcome means for the future of EVs. Here’s our answer: New reporting from The Verge confirms that consumers remain hungry for EV technology, regardless of who is in the White House. For Q3, GM came in second after Tesla for EV production, “beat[ing] out rival Ford by about 8,600 units,” with GM leadership stating “sales have accelerated since the company built a dedicated EV platform.” We’re confident sales will continue to soar. It’s in automakers’ best interests to continue—and even intensify—their EV investment efforts. Learn more about growing EV demand by reading the full piece here:  ➡️https://lnkd.in/ghJEAZ2Y

Recently, it seems there’s been a lot of doom and gloom around EV sales. Despite ever-dropping prices the market just hasn’t grown the way automakers would like, leading many to shift their priorities to hybrids instead. New data, however, shows that the EV market as a whole isn’t actually suffering. All the problems really come from Tesla. #tesla #makeinindia #investinindia IPQC Consulting Services

“IEA executive director Fatih Birol told CNN, “negative headlines about slowing EV penetration” were “out of step” with actual global demand. In other words, if — and that’s if — sales have slowed, it’s not because people don’t want EVs. “ While demand for EVs may have paused it looks like consumer desire hasn’t. EV battery makers will need to invest in calendar cleaners to keep up. https://lnkd.in/dsUU2bPf https://lnkd.in/dZh8i7ai #baldwin #epic #evbatteries #advancedbatteries BMW Group AUDI AG Daimler Truck AG Volkswagen Group Tesla Dennis Behnisch Jonathan Fore

Sales of electric vehicles in the US reached 1.2M in 2023, up from just over 1M the year prior. EVs made up 7.6% of the total vehicle market in 2023, up from 5.9% in 2022 and 3.2% in 2021. While EV growth is something to be appreciated, the industry-wide shift to electric is happening slower than expected. Manufacturers such as Ford and Volvo are scaling back or altering EV production plans due to the slow consumer adoption we are seeing. The chart below shows the states with the highest number of electric vehicle registrations. No surprise that California leads. Is anyone surprised that Texas is essentially tied with Florida for second? #automotive #evs #electricvehicles #tesla #evproduction #auto #ford #volvo #vehicleregistration

Electric vehicles surged to 12% of US passenger sales in 2023. Federal incentives and state support fueled this growth, with California leading and states like NY and NJ gaining momentum. Tesla has led EV sales in the US thus far but Hyundai, Ford, and GM are rapidly expanding their EV offerings. Amit Mathrani of #RaboResearch has written a new report on the rise of electric vehicles in the US. #EV #EnergyTransition #Sustainability 

Used electric vehicles in the US are now selling at bargain prices, creating challenges for owners and dealers. The average price of a three-year-old EV has dropped 25% since the start of 2023, now selling for less than comparable ICE-vehicles. This sharp decline contrasts with the steady values in the broader used-car market. Factors contributing to this trend include discounts on new EVs, Tesla's price cuts, and Hertz's sale of its Tesla fleet. While this may attract budget-conscious buyers, many current EV owners now owe more than their cars are worth. The surge in EV leasing could lead to a flood of gently used EVs in the coming years, potentially further depressing prices. #usedelectricvehicles #evmarket #autoindustry #carprices #teslaeffect #autoleasing #usedcarmarket #evresalevalue #electricvehicles #automotivetrends https://lnkd.in/dyxiQumF

EV Sales Plummet 14.1% In Germany In Q1, Tesla Does Even Worse In the wake of disappearing incentives, German EV sales have fallen 14.1 percent in Q1 2024 April 16, 2024 by Sebastien Bell • Following the sudden end to German EV incentives in December 2023, sales of all-electric vehicles have dropped 14 percent. • Deliveries of plug-in hybrids and other vehicles with alternative powertrains are rising. • Germany’s transport sector has missed its climate targets, and slow EV sales won’t help. https://lnkd.in/emHagKGg