EV Price Wars: Are Legacy Brands Running out of Gas?

BuddhaBoy on 08/06/2024 - 14:45

Hey everyone!

EV prices are taking a nosedive! It’s like a clearance sale on wheels. Maybe there’s an oversupply, or maybe brands just want to play “How low can you go?” Take Tesla, for example. Their super-efficient manufacturing means they can sell EVs cheaper than my grocery bill and still make bank.

So, how are the old-school car brands going to cope with this EV stampede? I mean, I was eyeing the Volvo XC60 Recharge, and it starts at $100,000! Even the regular XC60 is starts above $80k. Who’s shelling out that kind of cash when you can snag a BYD, Chinese brand, or Tesla for way less? It’s like choosing between a gourmet meal and an all-you-can-eat buffet.

What do you think? Can legacy brands keep up, or are they headed for the museum next to the horse-drawn carriage?

Automotive Electric Vehicle

Comments

        • JuryWheel on 11/06/2024 - 20:11

          I still think 400-450 is the number a lot of people are looking for (unless it's 300-350 but you can get another 300-350 in 10 mins). I get that it might only be once or twice a year, but I think for it to be taken up as the no1 choice, these sorts of number is what people are after (in Australia at least - and maybe that's an issue for us which won't be looked at since places like Europe are so different).

    • drprox on 11/06/2024 - 18:14

      MG4 must be darned close to this but probably still $10k off?
      I'm considering base spec and just run it into the ground doing all the short shit.

    • sponson on 11/06/2024 - 21:42

      Not far off. Pretty much everything but the 15 minute charge you can have right now. Maybe not brand new off the showroom floor for that price but plenty of barely used MG4, Atto3, gen 1 Kona, Leaf e+, MG ZS. Considering that wasn't a prospect at all just a couple years ago, imagine what will be available in 5 years from now?

      • JuryWheel on 11/06/2024 - 22:14

        The range will still be near new even in 10 years?

        • sponson on 12/06/2024 - 00:55

          Battery aging follows an exponential curve, you lose the most in the first couple of years and then it settles down. I would say a fair rule of thumb buying an EV would be "will I still be happy with 80% capacity in 10 years time" which is probably where you'd expect to be in 10 years, save for any drastic failures which you'd hope would be covered by warranty.

  • ttt888 on 11/06/2024 - 22:05

    Is it really an over supply?
    Pre covid Toyota has like what 100 dealers and everyone of them full with parked new cars.
    Some even park their new car stock at their service centre free parking space.

    That's how things were before covid.
    Very rare u need made to order.

    Telsa doesn't use dealership so they park all their stock at 1 or two locations only.

  • netjock on 12/06/2024 - 10:38

    Everyone remain calm. Check your numbers and run them against every price drop to see if it works for you.

  • dontboopthesnoot on 12/06/2024 - 11:15

    Ice Ice baby

  • A Banana4scale on 12/06/2024 - 14:28
    +1

    https://www.abc.net.au/news/2024-06-12/chinese-electric-vehi…

    Nice article by ABC highlighting the pricing war
    Chinese EV brands like BYD are really stirring things up by offering cheaper alternatives to Tesla, making EVs way more affordable for us.
    With aggressive pricing and more models, BYD is closing the gap fast and quickly too.

  • Gaz1 on 12/06/2024 - 17:05

    I wonder if synthetic fuel will become a viable option to keep old cars going?
    It certainly seems like a lot of waste to dispose of the massive number of ICE cars around.

    • samfisher5986 on 12/06/2024 - 19:48
      +1

      If that was going to be a thing, it would have already happened.

      The ship has sailed, the world outside the USA is moving to EV's.

    • Cluster on 13/06/2024 - 00:15

      Experiments with synthetic fuel have been carried out for decades, and unfortunately there's very little progress.

      Around 2007 there was a lot of hype about synthetic jet fuel, but 17 years later it's still at the experimental stage. There is no replacement for petrol or diesel that's commercially viable. The problem is the feedstock for making the fuel costs more than just pumping oil out of the ground and refining it.

      Ethanol is about as good as it gets at the moment. Making it from wheat is net energy positive, but there's a debate about literally burning food.

      There's a Nobel prize waiting for someone who can easily, cheaply, and in a net energy positive manner turn cellulose into a biofuel.

      • Euphemistic on 13/06/2024 - 05:45

        Making it from wheat is net energy positive

        Care to explain? That doesnt make sense to me.

    • smartazz104 on 13/06/2024 - 09:16

      I eagerly await my Mr Fusion.

  • chvy on 12/06/2024 - 20:51
    +1

    Kia EV5 launch is just around the corner, will be interesting to see the effect in this competitive market. People may decide whether the value of model Y is retained or not, all to do w EV5 pricing and the line up. 🍿

    • DrLobster on 12/06/2024 - 22:15
      +1

      Tesla price cuts couldnt have come at a better time. Apparantly the base and mid spec models of the EV5 are being released on the Monday 17th June. Launch prices will be interesting with NZ at around $68k for the base model long range. Another consideration may be that the base EV9, for some leasing companies, is now under the luxury car tax exemption threshold of $89,332.

      • chvy on 19/06/2024 - 21:38

        Kia ev5 launch delayed, tesla MY derailed kia ev5 product launch planning and succesfully defended MY market dominance..? Time to wait and see

  • JuryWheel on 12/06/2024 - 21:48

    I hadn't realized just how cheap second hand EVs from only a year or two are like MGs, Konas etc. 2021-22 with under 30k kms for $25-28k. Providing they still work and achieve 80% of their range in 10 years, probably a really solid car for someone wanting a run around.

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