EV demand is not collapsing. Monthly EV sales are setting new record again every month. There was a brief dip in January and February this year and that's where this meme of EV collapsing came from. There were a couple of reason for this but it boils down to people pulling ahead of planned purchases in 2023 due to uncertainty of tax benefits in 2024 in US and China. But most of that was temporary.
EV sales has resumed on the same pace as before and the brief dip in early 2024 will barely register in the long run. Don't fall for the trap of basing your view on limited (and aged) data. If you zoom out, EV sales are rising in an incontrovertible direction. Sure... a bit slower than some predicted but the big picture didn't change. Don't be fooled by monthly variations... that's just noise in the data.
Hyundai really needs to hire a new designer. I liked the ioniq 5 when it came out, but not so much after seeing it in person. The ioniq 6 is the worst looking car I’ve seen in a while and this ioniq 9 takes the worst looking suv title. A simple focus group could have told them that.
Thanks, appreciate data. Interesting yet not totally surprising. We’ll see if volume holds or if that was just initial surge to a new product from Honda. Passport is a bit low by comparison but a new 2026 is to be released in early 2025, which may explain low volume. It’s also more expensive than larger Pilot so Motor Trend and others as example have recommended waiting.
I received an ad from Honda this morning for a Prologue and the cost confirms I would not seriously ever consider one. Lease payment was super low which made it look attractive, but it was based on very high upfront investment. After 3 years at 10,000/year, the SUV can be purchased for ~$25k. That means 50% of initial price after only 30,000 miles? I’ve never leased so not familiar with what’s normal, but that level of effective depreciation seems extremely high to me. If EVs can’t retain much higher percentage of MSRP, they are going to face tough competition from ICE for many years to come.
Anyway, Prologue energy efficiency is not great either, so real-world highway range will leave many disappointed if attempting road trips. EPA hwy rating is under 3 miles per kWh, and I expect steady 70~75 MPH Interstate driving below that. Range at Interstate speeds would be insufferable on long trips. 😣
The only reason that Ford is even talking about affordable EVs is because
its current plant with premium priced EVs is collapsing. Normally, Ford
doesnt like to talk about products that are still a few years out but given
the current market, it has to give investors, Wall Street and potential buyers
something to look forward to.
I would urge people not to get too excited over CE1 developed vehicles,
we know that it’s basically aimed at small mid sized market for pickup,
SUV and possibly a Van. It’s easy to get carried away and think that
Ford is developing all kinds of wonderful but the reality is that Ford
has already sunk billions into BOC that maybe only builds a fraction of
the anticipated volume that Ford was planning on a few years ago…..
At least $11 Billion was ripped away from Ford Blue ICE project to help
with immediate funding of the massive BEV production infrastructure
that was begun a couple of years ago, I think some of that will have
to be reversed given the current economic climate and Ford’s need
to improve quarterly profits.