China warns a huge oversupply of EVs is about to spark an epic price war
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- เผยแพร่เมื่อ 3 พ.ค. 2024
- China warns a huge oversupply of EVs is about to spark an epic price war
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#china #spark #pricewar #supply #evnews
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Let the price war begin. I look forward to cheaper EVs not these overpricing nonsense.
So you are moving to China then? They are not coming to the US or EU.
I've been buying cheap cars all my life. But I have always bought used cars. If you can't afford a new car, you have to buy a used one.
Will spare parts be available for these cheap cars?
Increased competition is beneficial to consumers
It's too bad that I live in the U. S. A. Can't benefit from this up and coming price war.
The world needs affordable electric cars. Governments that support the fossil fuel industry have tried to stop the move to electric transportation. These governments place tariffs and taxes on imported electric vehicles. There should be no taxes on electric cars.
So Chinas car companies should be able to destroy jobs in European countries.. very Marxist of you
I remember Toyota claiming there wasn’t enough Lithium in the world for a change to EVs. Seems they were wrong. What a surprise 😎
Not really it is due to EV adoption being well below expectations.
@@davidlewis4399 There is plenty of Lithium even if all vehicles did convert to EV. And there are other battery chemistries not needing Lithium. Natural resources will never be a constraint as when batteries reach the end of their life in large numbers they will be recycled to recover the materials for reuse.
Weichai’s new diesel engine with a thermal energy efficiency of 53.09% will surely give all those EVs a run for their money. Who would hold onto their old 85+% efficiency EVs when they could burn diesel in a vehicle that’s cost twice as much…. It will save you $13,000 per year in fuel expenses over their old 46% TE diesel burners…. These CEOs are such kidders. Toyota’s gonna rock the EV’s right off the shelf with their $ 175,000 Hydrogen car. Can’t wait to see that!
@@davidladd5597😂😂😂😂 nice dream dumbo
Most Lithium is Chinese, and Toyota would have had difficulty accessing it. Not the same for Chinses companies.
For those waiting for EV price "parity" with ICE cars don't blink you might miss it. Parity will the case for maybe only days before EVs are actually cheaper than any car with a tailpipe.
I think we're already there. And with tax credits, EVs are cheaper.
@@KidHorn7001 The trick is assigning a "comparable" car. I guess just size and shape is all you can do.
"Parity" if things really bounce, may achieve parity several times over a five to ten week period. Then it's all over.
@@frankcoffeynah things like features and build quality and interior still matter.
Sam refuses to mention the BIGGEST reason Chinese cars are so cheap -- HUMONGOUS GOVERNMENT SUBSIDIES. When the Chinese governments (at all levels) spend 10s to 100s of billions of dollars propping up their car companies, of course there's going to be massive overproduction and price wars.
Largely because not only the new EV and PHEV prices are the same or even cheaper than new ICE cars, not also their runing costs are much cheapter. The electricity cost for EV is 5 times cheapter than the gas cost of ICE cars in China. The public charging network expands very fast and matches the expansion of EV sales.
By March 2024, the number of charging piles in China was 9.312 million, up 59.4% year-on-year.
When EV increases rapidly, the number of charging piles is also increasing rapidly.
Jai Hinduja. This is not happening in Germany as the West and Scholt use all their fingers to plug the leaks in the China dam due to electrifications.
@@jogana6909 Seems to me that there's plenty of room and demand for a Chinese charging company to expand to setting up chains in the west.
Most of the world doesn't have an EV industry to protect.
Let the Chinese in and the others will have to lower their prices.
Competition ist best for consumers!
@@fredericoduvel3092sure competition works great when it's a level playing field. But the Chinese government is subsidizing their automakers to an obscene level. So no, do not let them in.
@@matthewryonadams lol china stop subsidize ev industry since 2021, meanwhile on the other side of the world, the us government is subsidize 7.5kusd for ev below 50k usd sold. Now lets talk who is actually subsidizing 🤣 Btw china government not only subsidize their own companies, they also subsidize all foreign maker even include tesla
@@matthewryonadams what do you care as a consumer how the cars that you can buy are so cheap when you have no local production?
You can only win!
Also China ended subsidies for everyone buying an ev long before the other countries.
You still get a ton of state subsidies in the US for buying an ev.
Do what’s best for you and let them lower the prices.
Are you serious. Europe, Japan , Korea and the US all have vehicle markets to protect ( of which EVs are currently a part).
We need to allow companies to ship anywhere, let the prices and company actually compete no holes barred ! Auto prices in America are insane... Average car running over 40k middle of the line 60k plus luxury lines over 120k.. it's not sustainable.
For sure, with protectionism and national security laws, EV adoption can be stop or derailed in the USA and Europe. But there is no way, no way, EV adoption can be stop in China.
Jai Hinduja. As a matter of fact, India economy will leapfrog directly from mostly cowdung green to electricification green era.
100% agree with the example of Kodak.
This is a race to the bottom to see who is the last to go bankrupt.
100% so they can Build Back Better
@@francismarion6400- good
We consumers want a price race to the bottom!!!
No one can afford evs right now…😂
@@francismarion6400 🤣🤣🤣 Think about what you think about!
The CCP is pumping all its spare money into this. I think they have over-pumped.
There is a massive downside to a price war and a market with so many models. Manufacturers will never commit to brand loyalty which is related to service and a sustainable parts supply. and with so many models how can they and customers commit and expect reliable support? Am I wrong?
No, I think you're correct. Repair and maintenance is going to be a challenge for owner-drivers. This is another push toward lease/rental as the default.
Dealerships will all shut down. The cheap price and margins leave no room for those leaches.
In the USA dealerships are closing,because they cannot sell the ridiculously overpriced cars,both IC,and EV.
Leaches? At least leaches have a medical use, car dealers are as low as a snakes belly.
@@metricstormtrooper😂
They are still building dealerships in my area… stranded assets everywhere.
But why is an MG4 $46000 NZ? Let's get those prices down
Mix of shipping system not being optimized, dealers looking to fleece people for higher profits and tariffs.
Simply put ‘Middlemen’ everyone has a hand in the till mate
Back in the day when my company built computers I put a big sign up over the main workbench it said ‘Quick buy a Computer before the price goes down’ Seems we should be doing the same with EV’s. If I was in the market for a replacement EV right now I would be hovering to see if the prices drop again
I suggested long ago to NZ govt...not the current fossil govt...that govt order 10000 EVs and sell at 5% profit
As only govt can buy bulk orders to reduce costs...and honor their commitment to lowering carbon. Australia is the 5th highest user of coal in the world...1.5% of global consumption. China is 40%
The desirable MG4 is still AUD$45k in Australia. Make it $35k and I'll buy one today.
Pls hold your breathe
What matters most critically is the long term trend. That trend is upward and onward for EV technology. EV technology is rapidly evolving, so this is basically a massive rolling stock clearance sale. If legacy auto can't get their act together, they only have themselves to blame. 500kW charging could eventually become an industry standard, so until the laggards get out new models that support that, they are going to be forced to sell their stock cheap. Once ubiquitous 500 kW charging is available, it will effectively be game over not only for ICE and Hybrid vehicles, but also for new EV models that don't come close to that 500 Kw standard. A viable second have EV market will thrive as a result of rapid EV technology turnover over the the next decade, particularly relating to rapid charging and ubiquitous supercharging networks. This can be expected to involve battery pack designs for 2, 3 and 4 pack battery pack layouts. One battery pack will be reserved for very small vehicles. Larger vehicles will likely have two, three or four battery packs and utilize a parallel battery charging regime to boost charging speed and efficiency.
With two EVs experience, fast charging is for us essentially irrelevant. We do nearly all our charging slowly and just once per week, overnight. The power used for this is fully offset by a 10KW rooftop solar array.
Very fast charging (>150KW) adds enormously to the cost weight and complexity of the vehicle and of course requires very expensive charging stations.
Our experience for occasional trips where we need fast charging enroute, 80-90 KW is more than adequate and fits with our previous stopover cycle. This type of charging requires relatively 'light' upgrades to the grid and can be relatively easily supported locally by solar power and grid connect batteries.
For the very few for whom very fast charging is an absolute necessity, 500KW might be appropriate. However, it will come at very high cost because it is not just the feed point that will be costly but also the industrial grade connection needed back into the grid.
In my view the future for BEVs lies in relatively light vehicles with relatively modest sized batteries in the 60-70KWhr class.
Heavy duty vehicles like trucks and semis will likely do battery swapping. This technology hasn't been getting much press but is moving ahead quickly in the commercial road transport space.
My personal motivation to purchase (or not), my first EV is severely restrained by the all of information I see about coming battery technological improvements, the cost of such, and energy density. Why would I buy now when I can just hang on to my old ICE and get much better range and longer tire mileage a year from now, for the same money? Lower battery weight, for the same range give me much longer tread wear. Although it’s not as big an impact on my thought process, the battery energy density also affects the environmental impact of the vehicle and increased maintenance required to motorways.
Good idea, just don't wait too long because I feel after this coming price war things will rebound and while you may still get an EV for cheap it will be a lower end vehicle manufactured specifically for that purpose.
Yeah, I can't afford an EV yet, so I'm running my ICE while things settle down. Shouldn't be more than a few years, and my car has plenty of miles in it yet. But it will definitely be my last ICE.
@@duncanedwards8258 Pretty much my situation. I can afford an EV but I'm being a bit picky.
Long you own a ev the better the savings
It is the same with computers. If you wait for the best ever you'll never buy.
the point is totally misplaced, it is not about legacy cars but about new BEV makers - there are hundred of them in China and most will not be able to survive price war long term. For legacy cars it is mixed situation, some like BMW are doing very well and are slowly growing into winner of the transition globaly with supreme products... some like VW are struggling but they have strong brands that alone are doing very good in BEVs area like Porsche, Audi, Skoda or Cupra... US big legacy brands are indeed in trouble. Toyota is on its own - company is the most profitable and is doing much better than for example Tesla right now so we will see how it goes from here.
All the Chinese EV makers are owned and funded by the CCP. They will pick a few and move the staff from the others to the chosen few. They are all effectively one company.
BMW, MB and Porsche have the advantage of being premium so yes they will transition quite easily. MB and BMW will continue with their ~2M cars/yr. People want to sit in a Benz, it is what it is.
It is too early to draw a conclusion at this stage.
I remember that Nokia still sold a lot of mobile phones the year before it collapsed.
Toyota will loose one of its largest markets ( China ) as will the other Japanese brands
Toyota's got something like 15 BEV's planned for later this decade. By 2030 they claim to have an all-electric Lexus lineup for North America. The question is whether they can survive that long but if they can, they'll probably do okay. They have a valuable brand, much better known than XPeng, Xiaomi etc. People will buy Toyota and Honda for another 20 years just on the name.
In the end, Toyota is going to learn that inbreeding kills. Is anyone buying the whole Hydrogen thing? Sure don’t want one of their filling stations within 10 blocks of my house. My homeowners insurance would skyrocket.
Good thinking.
I don't think any fuel co will pursue it due to infrastructure costs, insurance and local regulations costs, and lack of customers for h2 vehicles. The costs of delivery of h2 to the station is stupid and no one is going to pay twice the current dsl price anyway.
Hydrogen is dead. A billion dollar experiment by Toyota to satisfy an anti-EV CEO who thankfully has stepped down.
it's normal for Chinese to buy Chinese cars as soon as the quality of the cars is more than acceptable.
And it's better than tesla though
@@user-xp7nk9dw8d cheaper yes, better i dont think so, at least at this moment
The price war seems to be starting in Australia as well. Ora dropped the price of their car by $4000. The BYD ute gets shown today at the Beijing Car Show, and from what BYD are saying, may come to Oz at a sensational price. Interesting times.
I hope so, it will upset the Ranger/HiLux duopoly.
The price war is not about "huge oversupply". If it is a case of oversupply, the production lines will be stopped. What is happening is an intense war to take market share, to drive out the weaker companies and to force mergers.
Toyota Bz4x is $47k in USA.
Lease deals are $199mo with $2500 down. They are trying to off load them.
Companies with battery and pack innovations are fueling the price war and making record profits.
Only three EV manufacturers in China are profitable: Li Auto, BYD and Tesla. The other 90+ EV companies are not profitable and having to sell their EVs at a loss.
People forget how massive the market is in the Asian area. Plus it can grown into India and South America. Which is where Tesla is building new factories
The ultimate goal is energy independence and autonomous driving. The PRC can generate electricity from various resources: crude oil can go to $200 bbl and folks can still afford to drive. Autonomous driving only works well provided all vehicles are connected to a central system that knows road conditions everywhere, all the time. Only in this way can the issues of driver and computer safety be resolved.
Inventory across all markets (except low cost) are bulging at the seams. There are 80k trucks and 60k SUVs in huge numbers on dealer lots that I see.
Bad for EV companies, good for consumers.
The price war can only be a good thing for the environment and for the consumers. I am an happy consumer waiting to buy a good car and helping with sustainability.
As an Australian who’s boycotting American manufacturers due to their warmongering all I can say is, good.
In China yes. I know they’ve exported huge numbers to Europe too but won’t be allowed to dump them. There’s a pressure cooker building here, not sure what’s going to happen.
Car makers like everyone else that makes something are in the business to make and sell things. If you can't sell your product you have two choices. 1) Spend more on advertising to try and "make" people want your product. 2) Lower the price of your good to get it out the door or off the lot. When any manufacturer has an EOFY Sale that is called business to sell old stock, when they have an end of model price discount it is the same thing cutting prices to sell stock. A price cut by any maker is great for the potential buyer but automatically devalues all those cars already sold by a similar amount to the price cut - obviously making them worth less at trade in time. The manufacturer doesn't care about that because they've already sold the car and got your money. Their only concern is on-going sales. With cars by Chinese makers (as opposed to cars made by other companies in China ie Kia, Tesla etc) becoming more common in many markets and selling well because they are "affordable" (in the $35K - $45K price range and they have pretty good claimed range as well) other makers can either drop their price and compete, attempt to compete on quality and luxury value (Tesla's strategy) or sell less cars and face the consequences. In Australia pre-Tesla Ford and Holden faced just that issue - people simply stopped buying the Falcon and Commodore in sufficient numbers to make it worthwhile for either company to continue making cars in Australia - without a government subsidy they left and Toyota followed because there were no economies of scale left with one maker. We've seen over the history of the automobile makers come and go or be absorbed by another company. Who remembers the Studebaker, Rambler, Daewoo, Duesenberg, Packard, Valiant, Woolsley, Leyland P76, Austin/Morris 1800, Zephyr, Vauxhall, Armstrong Sidley to name a few. The success of Chinese EVs is similar to the rise of Japanese and then Korean cars. Japanese cars were instrumental in destroying the British auto industry and Korean cars put a lot of people who couldn't afford a Japanese car in a car. Now the Chinese are doing the same except they are creating a new paradigm with EVs. All consumers who have a Chinese EV will hope they've bet on the right horse as the market winnows out the duds and some brands don't survive.
I do not think it should be called oversupply of EV in China as demand has not been fulfilled in China yet, let along by the world!!!
I totally agree.
If you consider the output of ICE, you will find the market very crowded.
But if you only look at the growth of EV, you will find that this market has just begun.
Am I missing something here? Isn't an EV "glut" a good thing? For EV enthusiasts, for normal drivers, for everyone on the planet? Isn't this is best and most feasible way out of our addiction to fossil fuel?
Wait till u see how much ewastes these things produce
@@itisyouthatiadore please. Plenty of videos highlighting EVs lasts much longer than ICE cars.
@markuc that is not the argument, these things with rare earth material in them are gonna end up in the yard one way or another. One single mistake in handling their wastes can have catastrophic effect to the land and water resources
@@itisyouthatiadore most of EV batteries can be recycled, and contain so much value that they will be recycled. The remaining components are so much simpler and last much longer than ICE vehicles. So in totality a shift to EV will have many more positive outcomes than keeping onto ICE vehicles.
@markuc EV batteries recycling is a high capex business and very expensive operation, what hinders these kind operation is the process is very meticulous we dont have the tech yet to do it cheaply and can justify the profit from extraction
It might have worked with govt handholding in developed countries, but others are fairly laggards in these industry
According to BYD's vice president of BYD and Europe president of BYD Stella Li BYD plans to build a factory in Germany.
I don't think the price war will reach Canuckistan. Canadians always get screwed with high prices.
I grew up with heavy metal cars and people who worked on them so I believed early on in my childhood what kind of car I wanted because that is what was most familiar to me. As the years progressed, I realized many cars are not built for efficiency. Even though sales marketing makes people feel superior, special, more alpha or whatever emotion delivers a sale it's all illusion. Transportation is needed of course, but how many freakin cars does the earth need? I mean, we have two legs and should be able to walk, run and move for a mile easily, but most people hop in their car alone in a huge SUV to get something they could just walk to. A car requires so much money, not just the payment itself, insurance, upkeep ( tires, fluids, windshield replacement, brake pads, coils, fuel cell replacement, annual taxes, filters, software updates) are just to name a few and hardly any education prepares people for the financial reality. I would guess there are more cars in the world than humans. We have to level huge acres of land to expand roads and parking for cars when we are totally incapable of evolving our ideas of transportation. I still love cars and going fast, but what sense does it make to be completely surrounded by cars 24-7 from when you walk out any door, it's just dominated by cars everywhere. It would be amazing to learn how to convert ICE cars to +4-00 range EV cars or transportation that can be safe and fast for commuters. We have old money so invested in ICE that even if the world environmentalist have provable data showing the earth is already getting warmer near 2% higher at its core than last year. All the markets are doing is pushing the same stupid behavior. I hope something changes and the fear of losing the extra 1million dollar bonus for not pushing ICE cars can be dealt with. We all need efficient innovation in transportation.
which is why e-scooters are getting so popular
You're not thinking about the elderly and people with disabilities. Not everybody can physically walk distances or ride a bike
If a recent-EV customer I'd be irate. That reduction scrapes right off the top of potential trade-in or used-sale return in future.
Common sense told us that cheap and affordable is good for the consumers.
A used 0 km Toyota Bz4x is sold at around 43.000 Euros in Europe... There is basically no relationship with what happens in China, till now at least...
Wow! those EV companies must be making so much money every time they sell a car!!
I don't know about the world, but in China there is no oversupply of EVs, people have to wait for several months to get their EVs after payment.
Isn't this the same thing they did to real estate? Who is going to bail this out?
In our country doesnt matter who sells. If people buy it and use it and there will be abundance of EVs if they will chage them up in same time, grid will colapse. My friend who does work on high boltage lines says, that is nonsense to expect that grid will bear such change. So someone has big profit and another reasons to push EVs.
Chinese consumers are going to have a fun time trying to maintain their cars once the manufacturers are bankrupt. 😂
I would like to know the spares situation in the UK as well . Did hear stories of people waiting ages
for spare parts for Tesla.
😂😂😂 where is your proof
@@user-xp7nk9dw8d There’s almost 90 EV manufacturers in China at the moment. Do you really think most of them will be around in couple years?
@@addict8229 whether they be around or not is not an issue
The cars can be fixed by any ev technician. The tech is uniform
The issue is our govts hate the fact that chinese are making evs . Now they hate the climate change issue when solution is staring them in the face
Hegemony is still alive sadly
It turns out that EV's do not need much maintenance! Besides, most car producers normally do not make their own parts but are from suppliers. This is the reason why Xiaomi can produce its SU 7 in such a short time, for example! So, as long as suppliers are around, things should be okay!
Please do. These electric cars are way too expensive for what they offer.
It’s not actually price war.
It’s efficiency war.
Canada a chinese made Volvo EX30 is not available and will cost $60,000 CAN.
In the mean while in America, people are still having heated debate over Toyota Corrola and Mazda 3. LMAO!! 10 years behind China!
Dude, where do you hang out? No one I know cares about Corolla vs Mazda 3. I see tons of EVs on the street.
@@incognitotorpedo42 There is a big class divide in the US, and also geographical divide as well.
When a Tesla Model S hits 55K...I'm on it. I'm patient...
Musks pro russias stance have made me only consider buying a Tesla if I knew for sure he’d loose money on every sale
If i was in the mareket for an electric car, or any car, the company surviving would be important for me. Software longevity is pretty important with these cars.
Prices will tank, companies will go bankrupt. Thats the way of the world
Love the sound level in this video. Thanks for making it louder Sam.
Glad you like it!
One thing that makes me think of buying anything that is not legacy car maker is the new form of forcing all kinds of extra fees that come with a car. IF you want a adaptable cruise control in your car, you have to pay extra € per month, also your car control schemes can and will be updated when you take it to dealer so you will have to look up every fucking button again, and all buttons are inside touch screen in middle. I don't want to buy fucking I-phone when I buy a car, I want a thing that does what it says in the can and no extra strings attached, not alpha build of a car which can be fixed with a monthly subscription to do what my old car would do already.
Once the production costs are paid for EVs are much cheaper to produce than ICE vehicles.... They also are much cheaper to support... If there will made... That's why manufacturers embrace them so much... Because they thought they were going to make all kinds of money....... The battery price has zero to do with it...... A couple of thousand dollars on the price of a car not 20 or 30 thousand
ICE RIP. Clean Air Blue Sky Health. Better Life. Sam I am 70. I hope in my Life I see the Transition. Last 10 Years from 60 to 70 was wonderfull. Wait what happens 70 to 80. Same with Coal Power. And Gas Plants. Wind and Solar take over in my life time.❤👍 Thank You China ❤️😊
Really, what about battery emissions?
What about tyres? EV tyres cost 50% more and reitres 30% faster.
Same with the brakes
Maybe they'll bury you in a used fiberglass turbines hole.
@@MaxPro9127troll somewhere else.
Your argument went out the window when you said brakes ! Not that you had one anyway !
@@user-rq1mk9hi4x he didn’t 😉
Meanwhile the prices of EVERYTHING is going up in North America.
RIP ICE.
I think Tesla, Rivian and possibly GM, will survive, in the U.S., and Mercedes and VW should, but Chinese automakers, which will trim down to only 3-5 companies, will put everyone out of business with EV's only. ICE has NO chance.
If they set up spares support in the UK and sell them for a fair price (The dealerships don't double the price) then China will dominate the EV market. The EU car producers need to update their game and make affordable EVs , not £40K , more like £15K new, £10K nearly new. At the moment insurance is very high on EVs because one crash near the battery is a right-off.
Wish we could buy them in Canada
I still wouldn’t drive a Free EV…
Thanks Sam,
At least some of the legacy guys seem done for. Sad in a way. Failing to deal with change effectively has been a massive failure of strategic management.
Prolly only in China. Don’t see a price war in Europe.
If gm can electrify their Cadillac range they'll do well.
My recent trip to China the new ice Cadillac range looked stunning.
The bz4x is $70-80k in Australia. Yeah na.
That’s the worst EV of all EVs available. Move on to a mainstream EV.
In a couple of years these will go free if you can tow it away. The good thing is the battery will sink in the sea. The rest you can attach to the grid with a cable and drive it a few meters back and forward.
500+ Chinese electric car manufacturers in China in 2019. After fierce competition, less than 100 manufacturers remained by 2023. Literally hundreds of unprofitable EV start up exist in China because the government poured money into them. But the vast majority of these Chinese EV companies haven't proven they can survive without constant infusion of government money. Their future is very grim, the Chinese market is overcrowded and Chinese OEMs have no recourse but sell their cars at a loss or no one would buy them. The Chinese growth and debt model (without path to profitability) is unsustainable. Specially now that China economy is spiraling down. When government money dries up, only a handful of these companies would survive. Realize that only three EV companies in China are profitable: Li Auto, BYD and Tesla.
100.000 Pre orders MY ARSE who believes this nonsense 😭😭😭
Everyone who believes President Shi's doublespeak
We are watching the demise of the EV in real time.
I like the new Porsche Macan Turbo EV, but there is no way I am spending $150,000 CAD for one.
6:42 Like everything else Chinese made....... the Chinese EVs will be cheap and disposable..... The American car industry already went down that path in the 1970s.... It's a path to failure in US..........
Vehicles for US market need to be well made.... Long lasting.... Repairable.... With a service network to do those repairs....... That's the biggest problem with EVs today .... There is none. There's no spare parts.... The non-legacy makers have no concept of a support network for their product...... This is like Chinese made electronics.
.. their throwaway they can't be fixed...... Well that doesn't work for $50,000 cars........ We're already seeing Evie's that are totaled from minor damage because there's no manufacturer we're already seeing Evie's that are totaled from minor damage because there's no parts....... This will lead to no insurance....
These vehicles could be more reliable and not need as much dealer support.... But that's unlikely....
Idk if this is news , legacy auto have been deadman walking for 3decades at least
YAY! Consumers need a break.
Doesn't impact the majority who don't want an EV.
@@davidlewis4399it does because EVs save money after the initial purchase so to keep up, ICE vehicles also have to reduce in price.
Want or not, if a good enough deal for an EV comes, people will buy.
So you want a cheap car from a company that won’t be in business after a year or two and you won’t be able to buy parts
@@neilkurzman4907 only companies doing these price cuts can handle said price cuts.
@@neilkurzman4907 Ah typical American response of running on fear. You ain't no swami but it is good your politicians have trained you so well.
Will be very curious to see who comes out alive from this incoming bloodbath there in China. That is crazy.
In fact, the competition in photovoltaic industry was more serious than EV in previous years.
It is such cruel competition that the best products can be produced.
Totally foreseeable . This has to happen when new manufacturers enter a new market fully prepared , knowing they need to lower prices to take out the legacy automakers. They get a timing edge this way . They are market makers and not takers . Let’s see who has the tenacity to survive and compete in the new market and develop their brand further .
Tesla demonstrated it can be easier to start with a clean slate rather than turn around an existing industry.
EV price war will result in ICE only casualty
Great news , start dropping the prices BYD ,Mg and Tesla
Quality and price must go together, and there is still a loooong way to go for ev cars
You really think so? I mean what do you think is still missing?
Clearly you don't drive one
After 2024, all new passenger cars sold in Norway will be EVs. You're a loooong way from thruth.
They're having "a Kodak moment" :)
China did something similar with Real Estate Construction... created entire cities and thought someone might show up and populate them. Now they are dealing with that. Crazy
The western media didn't tell people that the cities are being populated years later.
And, the Western media didn't tell people that housing is affordable in China, while in the west, people are becoming homeless due to high property prices. 😂
@@kl9518 I am not saying the West is amazing. The West is in fact destroying itself.
China is currently going through very hard times because of what it did with RE development and other communist policies. But hey, they will be fine. They have a ton of people working for cheap and are happy to steal the West's tech with bribery and they do what they do with little ramifications because the world likes and needs cheap stuff
The West is turning Marxist and is falling fast...
@@kl9518 those new cities are overgrown like jungle because nobody lives there. Ain't nobody putting up money to live in a ghost town 😂
@@kl9518yep so a lot of people still think like Travis but in truth most of the cities are pretty much fully populated thriving cities right now. Set up with high speed rail so commuting to them for work is easy even if you don't have a house within said city.
@@kl9518what did you say?everyone in china complain the price of real state，now you say its affordable . there are homeless too in china, if you don't know ,google 三和大神.
A Chinese manufacturer who wishes to sell into euro mist find a local 50% equity partner?
Course not, even China dropped that requirement in their country.
But the benefits are less for Europe because the technological difference between the two sides is less nowadays &, unlike in China, stealing technological property, is illegal in Europe..
@@MaxMisterC IP theft is illegal everywhere but that's domestically where it's enforced. Countries steal tech from one another all the time. It's just US was advanced enough people mostly stole from them.
@@nfzeta128
Would you like to buy a bridge?
I have one, to sell you....
@@MaxMisterC
The "developed" countries in the west, are developed, by STEALING from the world.
In aust byd atto3 still no change in price despite Tesla dropped prices many times over.
Atto price went up last year and down this year.
I.bought.one two years ago, it's an excellent vehicle and I am very happy I did so. If fits my needs exactly. The newest model is somewhat more capable and a bit cheaper at the same time.
Very good.
It's deliberately done
Yes if Toyota has a good electric car .. hands down people will buy it … 1: it will be reliable 2: technicians will know how to fix it. 3 so when it brakes it doesn’t need to be shipped to a big city to be fixed .you are too much on the electric kool aid
Why do yall care about low prices for aluminum foil on wheels? I know some don't care about the environment, but know where your materials come from to make the car. Lithium and rare metals are easy/difficult to come by and youll have to do something to meet the demand.
Not even the world market can support the number of auto makers in China. Their number simply has to get down to a normal level.
Its very easy to build EVs, so they have to be much much cheaper. I would never buy an Ev for over 15.000$.
In answer to your question, I would and do think Japanese EV, not because of the nationality or even the brands, but because they are making EVs of the size and type that I want. The Nissan Sakura/Mitsubishi EK X EV, Honda N-Van EV, or the EV versions of the Daihatsu Hijet/Toyota Pixis Van. Of course, having thought that doesn’t help because I’m in the UK and they don’t export the models that would interest me to the UK and if I tried to import one privately it would be near impossible to insure. They do, however, export them successfully to the rest of Asia showing that there is demand. I’m sure that if they exported them more widely they would sell fantastically well. On the other hand, if all the Japanese carmakers go out of business the question becomes academic.
Its going the way of the chinese real estate industry.
Very poor management by the chinese government, unrealistic subsidies, pushing supply way beyonf demand. its going to turn out very badly for everyone ... will cause recession in china which will hurt all economies.
Its not good for ev's.. does not build confidence in them. Byd is producing AND exporting far more they can sell.... will they survive? I think they will, but they are going to make huge losses.
Yes. But will it have a knock on effect? All those loans and debt will pop and bring the banks down too.
Maybe ...
People been crying recession for China for ages and it keeps falling short.
The Chinese housing market is more than fine. It's just not what someone purely capitalist would like because housing is affordable and selling.
See Inside China business how bad it is 😂 s
@@nfzeta128 You apparently don't follow news about China. It has, BY FAR, the HIGHEST real estate prices on the planet in cities. In Beijing and Shanghai, it costs 40x annual wages for a typical house/apartment. It also has at least many tens of millions of empty housing units.
Knees-on is how you say nissan
Are these companies making money per unit?
Jai Hind. I can't watch all the press presentations because Chinese car makers are releasing incredible number of new models this month.
This will be the year where Nissan will already give very negative signs to the CNBC/Bloomberg crowd.
Nissan will be bankrupt soon ! There not worth a buyout
China has no chance against google software in cars
Huawei and Xpeng : Am I joke to U?
Then America wouldn't have to worry about China's overcapacity. 😊
Given Chinese cars are designed for driving on the right hand side of the road, it’s obvious where they would target any surplus first.
What do you mean there is some concern over China's economy... It's in free fall is it not?
China is past the point of no return on EVs. The ice is dead there....if you understand
exponential growth ......50% is almost total...
How can this be? Everyone wants one or two ev’s.
Just stop buying until the prices and depreciation values level off. If it means building more ICE cars, then so be it. The EV role out was poorly managed and still is being mismanaged. Consumers have a lot of power in this market. The governments and mfgs need to be taught a lesson.
The Chinese economy is way down. My Chinese stocks have been hammered because overall sales of many big firms is down. Their real estate bubble popped and that has to work through, which will take a few more years. In the meantime, overproduction in the EV segment combined with a shrinking economy, is a recipe for a savage price war. It will all boil down to who has the best relationship with their bankers. I predict Toyota will have its best year in history in N America, but get hammered in China. When EV's are cheaper than ICE cars like they are in China, the ICE vehicles which is 90% what Japan is offering, will get clobbered.
Here in the USA, Tesla Model 3 losing their 7500 federal tax credit (way better than a rebate, as a 7500 tax credit shelters about 30k of income!), made their sales drop significantly, and i predict 2024 will be a down year for Tesla, and they will have to do price cuts here to keep moving their product, which is now accumulating.
there is a car discount website in the UK offering the Nissan Leaf brand new with a discount of 46%, this is what is needed for joe public to afford to buy, EV's are overpriced, but the market dictates price, there will be many casualties
Most ice cars and trucks are overpriced at least in the US