Extinct Pachyderm Social Media Post of the Day

It appears that the stall in EV sales is a myth. 

The EV market continues to grow, except for Tesla Sales, which are falling off a cliff.

I guess that the typical EV buyer is put off by the antics of the white supremacist fail-son Apartheid Era Emerald Heir Pedo Guy™.

That, and the fact that the Cyber Truck is a stupider car design than the one that Homer Simpson designed in the episode, "Oh Brother, Where Art Thou?" 

But still the shareholders just gave him $42 billion:

After an underwhelming start to the year for US electric-vehicle sales, it might seem easy to conclude that the boom times are over. Sales were flat in the first quarter, Ford dramatically scaled back expansion plans and Tesla laid off 10% of its global workforce. But these dismal indicators only tell part of the story.

For every sign of an EV slowdown, another suggests an adolescent industry on the verge of its next growth spurt. In fact, for most automakers, even the first quarter was a blockbuster. Six of the 10 biggest EV makers in the US saw sales grow at a scorching pace compared to a year ago — up anywhere from 56% at Hyundai-Kia to 86% at Ford. A sampling of April sales similarly came in hot.

It’s a tale of two EV markets, where consumers are flocking to some brands in record numbers while turning their backs on those with inferior battery range, slower charging and high prices, said Stephanie Valdez-Streaty, director of industry insights at Cox Automotive. Delays of new vehicles, though temporary, added to the perception of a market running out of steam.

“We’re still seeing growth in demand, just not at the same pace for every brand,” Valdez-Streaty said. “Right now Tesla doesn’t have new models, Ford doesn’t have a lot in the pipeline. But Hyundai, BMW, Kia, Cadillac — they’re really moving the needle forward.”

GM sees 300% growth for 2024

The two companies with the worst start to the year were General Motors and Tesla — both victims, in part, of their own product cycles. This year GM discontinued its most popular EV, the Chevy Bolt, before its replacements were ready, while Tesla Model 3 production was interrupted for a long-planned facelift to the car’s design. Excluding those two models, US EV sales in the first quarter grew a respectable 23% over a year ago, matching pace with global EV sales for the same period. 

For the rest of 2024, GM appears to be on the brink of becoming the biggest driver of EV growth in the US. The Detroit automaker has committed to electrifying some of its biggest brands, which are finally reaching production after years of delays. That includes a $35,000 Equinox SUV and its sibling Blazer, as well as Silverado and GMC Sierra electric pickups with up to 450 miles of range. 

The penultimate paragraph is inaccurate with regards to Tesla.

They have so many unsold Teslas in parking lots that are visible from space.  They have cars to sell, but people are not buying them.

In addition to the toxicity of Musk, who has consciously made himself the face of the car company, there is also the issue of depreciation, where the value of the cars plunge once driven off the lot.

Depreciation is particularly bad for Tesla because of the panicked price drops rolled out by Tesla, which have screwed earlier buyers big time..