22 Nov 2024 | EV Sales Increase Again In October, VW Takes Euro Lead From Tesla and Ford/GM Says They’re Ready For Tax Credit Changes
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every welcome back to eva day coming up today. A, B, sales increase again in october. V, W, takes the uro lead from tesla and ford.

G, M, say they are ready for tax credit changes plus day tune good later in the show, all telling why fewer evs will be tax eligible on the first of january. Anyway, well, good morning, good afternoon or good evening where you are in the world. Welcome to views daily your trusted source of the information for friday, twenty second of november.

I'm min lee and I go through every E. V. Story so you don't have do. And welcome to a new podcast producer. That'll be you.

Matthew stern superman joined up along with the other list of legends, the hall of famous on patriot dotcom slash EV news daily. You can be like mega Matthew by clicking on a link in the show. Notes will start with the october numbers coming out of europe, and the europe new car sales were steady after two months of decline.

According to the car makers association, the stabilization was down to an increase in the adoption of you beat me to IT fully electric cars. Overall, new vehicle registrations across the european union, great britain and the european european free trade association increased. IT was by a no point one percent year, october, october, all IT up one point zero four million units in the month of october, so one million cars were sold.

And despite the hurdles, the shift towards electric vehicles gained the momentum. Sales of pure bibs were up seven percent. October, october disease sales down by eight point one percent. And IT was volt vargin leading the market with a twelve point six percent increasing registrations, in contrast to lantis was down sixteen percent and reno was down no point four percent.

Testers sales dropped sharply by twenty three point one percent, and china's S A I C fell by ten percent, suggesting potential shifts in the market as tariff were due to be imposed. Now electric vehicles are those electrified? Not that the work.

So that is pure BBS plug in hybrids and anything with the battery. Hybrid vehicles were now fifty five percent of the european market, so that is up from fifty one percent six months last year and shows that more, more people are driving around with some form of electrification. Well, talking about folks vagon last month in october, the group itself top to the european and market with two hundred eighty seven thousand new cars sold in the month alone.

That was eleven percent increase on the same months last year. The boost raised volts wagon's market share to twenty eight percent in europe, the highest in three years. Vault vagon dominance not just to due to high sales, but strong performances of its electric models, things like the cota, any act of past test las model y in october becoming europe, stop selling EV.

Additionally, the I D four was up twenty five percent. I D seven, over five thousand units sold. Always worth remembering, though always worth remembering, as I put my phone on sign for the second time this week, I forgot to do that.

Now there's always worth remembering that tesla, you need to smooth the numbers out as as a minimum, look at the quarterly tesla numbers because yeah, giga berlin is up and running and it's you know making vehicles for something like thirty four different countries. But still tesla has a history of wildly flush ating of having a killed september in a terrible OK toa. So smooth out over the quarter and we will wait and see.

But generally, tests is having A A little more of a hard time over here in europe. Sy, how IT all shakes out at the end of the year, but what cause of people buying? Europe's EV market has split into two distinct segments in the first ten months of the year.

So let's take year to date, right after the end of october, premium evs a what's gaining popularity. Smaller budget friendly mini cars and smaller models are actually losing ground. Market research data force reports that the overall full electric segment in europe was down the first ten months of the year on the same time last year by one point six percent.

Leading models like the test a model y done by twenty two percent year to date, which is forty eight thousand fewer model wise sold yesterday so far in europe. Then the same time in the first ten months of twenty twenty three V W D four sales down a bit, particularly in germany. The china made in four was up nine percent year to date though.

Now what's causing them the overall evy market to be down a sd in the first ten months of the year? Well, it's affordable vehicles. This report presents a loss of about one hundred and ten thousands sales of those smaller vehicles same time last year.

Compared to this year, most premium evs are up. Now the definition of a premium E V is the vote. Vote ex thirty.

So volvo, ex thirty, sixty six thousand old so far this year in europe, second place B M W I X one, which is what they put in the premium segment. Now premium to me means a couple of things, not only the quality of the vehicle, but the size as well. And the x thirty and the ix, one of the smallest vehicles both of those brands make.

And I wouldn't call three of them premium as nice as both of them are. So maybe a little work to do on definitions there, but you have the cars that have struggled a little bit. The likes the datchet springs of the world are down.

And why is that? I don't know. You know, we spent the last, however many years saying to people, do you want to buy an E V? And they go i'd love to buy an E V, but they're all too expensive fast for twenty twenty four.

And there's a bunch of really affordably these on the market. And so we say to people, do you want to buy those that? Oh, no, I want premium electric vehicles.

I like, well, what just been asking for, oh, can't buy an E. V. They're not cheap ough.

Okay, here are some cheap evs many years later. I know. Thank you. Frustrating isn't IT these more affluent ability of these are very, very good cars, by the way, I think it's a blip, will wait and see. General motor ford are retaliation ating their strategies in the us.

To achieve their goals in the face of expected policy changes under the incoming republic and administration, the chief financial officers, the cfs of both companies, this week expressed optimism about their ability to adapt and meet any requirements. The incoming republic and administration will implement significant changes, theyve said. They want to remove the inflation reduction acts, tax credit of seven thousand, five hundred dollars for plugging vehicles, also the potential rollback of fuel economy and carbon emission standards, which should be a real shame for investment, for the planet, for the abbot.

We breathe just for humanity, of doing the right thing of just pink. A good personal on the planet. But still, paul Jacobson, here is the C, F, G, M, emphasize their manufacturing flexibility.

And ford. See if I advised chairman john lawler, highlighting fords diverse vehicle line up from petrol to disease to evs and hybrids inside. Do you think there's gonna be those companies that can make more combustion, saying, hey, don't worry about IT.

We can manage this. We make more money from those vehicles. Anyway, that move to eva was enormously inconvenient.

So bring IT on. I don't know. I'm speculating. And anyway, fewer vehicles will be eligible from the first of january for the tax credit, whatever the incoming lots do.

Because starting january first, the list of these that qualify for the federal tax credit gets smaller buyers that benefit from the incentives might want to purchase the A V that you are looking at in the next six weeks before the new year. Right now, eligible buyers get the federal tax rebate of seven thousand five hundred dollars when buying an E V. At the point that purchase all the least loophole as well.

The credit can be applied to the downs, yet through dealerships is no up front cost. To qualify, the buyer on the vehicle must qualify specific requirements. Vehicles must be less than fifty five thousand dollars, and trucks and S. U. V, less than eighty thousand dollars.

There is rules about where the car parts come from, reducing the use of chinese materials, which is why when we talk about the inflation reduction act, and everybody gets very hot under the collar, who doesn't like incentives and subsides, take them away, they say, let evs just fight IT out. Get rid of the inflation reduction act, take away the the federal tax credit, and see where IT goes. Well, where IT goes is all the bit under the skin will be chinese and theyll be american.

Make cars if you want, but IT all be chinese technology, because that's what IT. And so what the inflation reduction a reduction act did as well as obviously the headline point of sale rebate, which people are are opposed to and I understand why that is and I agree with, of course um is that there's so much more to the inflation reduction act. It's so much more nuanced when you think IT through than anybody wants to do.

The point of IT was IT was that every single year on the first of january, IT gets harder and harder to achieve. And so at the moment, you get half the tax credit if you build IT in the us, uh, north america, and you get half the tax credit if sixty percent of the battery is made in north america. Well, from the first of january, that goes to seventy percent.

And so that will every january if the inflation reduction act sticks around highly debated every january IT rises. Least evs don't have these sourcing rules, so they can still qualify for credits regardless of where the parts come from. And that might be a looper can go easy up than than others.

So the point is, if you look deeply under the skin of this, it's to create a strong U. S. Domestic supply chain standing on your own toothed and not having to go cap in hand to china.

It's not a weakness to have the federal tax credit or the inflation reduction strength. But either way, no one has that debate on the stage, do they? When they are voting for their favorite politician or not, they just see as those EV bias got something for nothing.

I want seven and half ground of my disease truck. Well, it's not quite the same as that. What they're doing is creating a strong and robust U.

S. Made industry that could have major a world leader. I think that will go, and that's a road shape. The shifts is not complete. The battery minerals are still being sauce from places like china.

At new minds in the vada, I could start supplying live me in the future, but political factors will affect things. Report suggesting that the incoming administration will repeal the credit. But since the inflation reduction act is is a law, not a regulation.

And you gotto be aware, this is some great talking about american politics on thousands miles or away. The r. ra.

Is a law. It's not a regulation that can be swept away by the swipe of a pen on january twenty of IT. Doesn congress to act. And that could be, or IT could tie things up, that could slow IT down IT could mean that you still get that yet three, four, five, six months a year?

I don't know of the tax credit if IT can't go quickly, but nobody knows what's gonna happen, I will take a quick breaking when we come back. What's talk about the key? So saying goodbye and another development in terms of the genocide.

G V seventy getting Better. Stick around back. Amo attention.

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Welcome back to the podcast. And if you'd like to support the show and get your podcast stand free, you can have a look at the patron on page P A T ario. Enter conscious h EV news daily, okay, let's talk about ford reducing their european and workforce ed by 44 percent， eliminating four thousand jobs by twenty twenty seven.

The decision comes as the company faces a drop in the sales in europe and stiff competition from china. Germany will be most affected. Two thousand nine hundred jobs go at four colony, the UK loses, eight hundred jobs in product development administration like financing government affairs, three hundred jobs removed across other european countries globally.

It's two point three percent of ford's workforce of one hundred and seventy four thousand employees being laid off in a statement two days ago, only them over twenty years, ford said. The workforce reduction creates a more cost competitive structure and growth in the eur. An Operations, of course, and i've got the explorer and the capri over here, not coming out of colony.

And some of those employees making those vehicles are on short time work until early next year. And the managing director affords german division Marcus v. Berg saying the job cuts in clone are because of high labor and high energy costs in germany.

Also ford noting that there is a weakness in v sales for them in the U. K. In european union.

They want the regulations changed to be more favorable, which I understand it's the whole turkey voting for Christmas. Big four are one of the companies which vote hit twenty two percent. Others will be just fine, but I think for the struggle and could face fines.

Now here says goodbye to the soul in the U. K. After ten billion years in the U.

K, market, car is finally discontinuing the solo vata make space for the E V three introduced on november the eleven twenty fourteen. The k sol v was the first electric vehicle that was a worldwide vehicle. IT helped to join a small group of car.

Make is offering mainstream movies with a hundred miles of range or more. The sole eva was part of the second generation soul series. IT was IT was study. Some said I had looks on another could love, but still IT was here, and IT was electric. And I had an eighty two thousand hour, eighty two q front motor, twenty seven thousand hour battery over one hundred and thirty two miles.

And that was pretty rare as impressive ve, at the time, ten years ago in twenty eighteen, key upgraded, the soul had told in eighty miles of range, just hundred fifty kilometers. And I made the, the, the car mean a much more similar to the neo E. V.

And I gained a lot of popularity here in the U. K. Of course, I had to make way for the E V.

Three, which is a vehicle. I'm fully aware, by the way, that we don't talk about enough. The care of you three is gonna be mega, mega h in the minute.

It's still quite expensive because it's new. So if you look at the monthly Prices, IT is IT is not cheap to buy. The moment IT is a cheap vehicle.

IT starts that twenty three, twenty four thousand for the small, small battery. Uh, and then you can speak IT up. And admittedly, you probably want the G T line of the G T line s to be onest with you because you want the toys in the goodies.

But then he puts over thirty grand. But the size of the vehicle, the technology inside the vehicle, the stuff that car and handle throw into their vehicles, even a standard the size of IT as well, actually perfect for families. This will all come down to what is the monthly Price you end up paying.

I suspect it's another volvo E X thirty on our hands, which is done hundred thousand already in the first year. And the E V story, I suspect they'll sell every one of those they can possibly make. It's a problem that vault swagging would like.

Now volkswagon on is cutting billions in its upcoming budget. In response to this, the labor union I G metal in germany is stepping in with an offer on wednesday. Igm, mattel and V W S workers proposed.

Employees take a picture, totally, one point five billion euro, that's one point six billion dollars, to lower the labor r costs and avoid layoffs, factory closures. In return, the workers want guarantees that every job is secure and no factories will be closed. The union is warned that a fw doesn't meet their demands.

Strikes will happen in december. Vw is facing strong competition from china. V, W, is hurting in market share in germany with a slow economy in germany.

And I do not. I strongly suspect that they will not agree to the worker's demands of a castine guarantee that no factories will be closed. So we're going to see where that one goes.

In the U. S. Work is at the blue oval S K, E V. Battery plant in glandier, cantus, ky. Could well be unionizing with the U A W. The effort represents a significant move by the U A, W to expand their influence into the south blue over S K A join invention between ford motor company in the south korean firm S K on.

It's about five point five billion dollar investment a hundred kilometers or sixty miles south of li film is set to begin battery production next to year, supplying batteries for four and lincoln evs. The majority of blue overs k workforce signed an authorization card showing support for unionization, which does for a broader movement in the battery and E V industries. Now earlier this week, genocide unveiled an enhance version of the new model year of the G V seventy, a car of the genesis called electrified G V seventy.

Just call electric. It's not elected fides, a fudged word. If you, if you have doing some hybrid nonsense, just the all electric one a, the updated model has the large of battery, so that goes from seventy seven point four to eighty four killer hours.

No exact D, P, A range rating on that, but the two hundred and thirty six miles of the current gb seventy will definitely go up with another six killed hours usable over two hundred and fifty at least you would think. Side G V seventy has a dashboard that is now sent IT around a twenty seven inch continuous OLED screen and a few physical buns. Now moving to china.

And x pung of the chinese v makeup is going to be profitable next year, according to the president brian go. The achievement relies on strong sales of new models outside of china, they say, and if if that happens, IT, it'll be the first chinese car make a to turn a profit from selling evs outside of china. In comparison, rivals byd and lee auto became profitable by selling also hybrid cars back in the day, the expand boss said in a phone interview to reuters on wednesday.

And I quote, the super ycl is upon us by the end of next year, we anticipate reaching the break even point. We are confident this outcome is increasingly likely and quite as good news. And finally, owners of the U.

K. Leading pre owned electric vehicles a sitting on average one thousand six hundred pounds every single year compared to driving an equivalent petrol car. According to a new piece of data from energy and climate intelligence unit, the E.

C, I use analysis shows that these savings have been growing since twenty twenty three due to the stabilization of second hand evy Prices. The study looked at the cost of owning six of the best selling E V and the equivalent petrol. The out e tron offers the best of value as they were.

I may obviously to end a lot of money on diesel or petrol for a big one of those are the add. Each on owners would save two thousand, six hundred pounds that study, two hundred dollars every year. On the other hand, a little red o zai compared to a little combust in car equivalent doesn't save as much, about eight hundred and seventy five pounds, seven hundred dollars annually.

But that is still nothing just need and that SHE broadcast for today. Thank you for listening. And that is a working week done, but i've already got notes for saturday on sunday. There's so much going on, so i'll see you at the weekend because it's plenty to talk about. In the meantime, whatever you've up to this weekend I have you got five minutes t self, that would be nice.

Have a look at the patri in pager and if you want to support the podcast, if you get any value from IT or just listen to the free version and ski the s the premium partners a portion of the village since and ati od up sinani east and volvo cars up since ati east national car charging on the U. S. Mainland and the low heart charging a why direct Riley from nevo dot ie.

And the navy E V reu island you to channel. I looked to the selective verse label, public charging, made simple with one APP and one map. Have a good cinema. And remember, there's no such thing as a self charging hybrid D.

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