Geographically and politically Europe is poor example for the U.S.A. to follow. Some of it because of what you lay out but also we drive way more on average in a year than Europeans, devote much of our road taxes (paid at the pump, not plug) to maintaining our roads while they mostly put it towards social programs. The smaller distances they typically travel intracity also can be done by their fine rail systems. Here basically the Northeast Corridor is all there is presently in that regard. Germany, I believe is leading the way with Solar. France is sticking with Nuclear as their main energy producer. Norway is supposed to 100% EV sales by end year?? But in no way is Europe of one mind and all hitting any strict targets simultaneously. So the fact we are not also laying out a set in stone an exact plan- we will do this and by this date - is not surprising at all, even if the Dems ran both houses and the WH. Climate change folks (which I mostly understand and believe in) have been saying for a while that if nothing is done and temps rise however many degrees celcius this will result. We didn't change from horse and buggy overnight to autos or put a man on the moon etc.
(Axios) EVs' messy growth Illustration: Natalie Peeples/Axios The slowdown in electric vehicle growth is real: In Q1, EV sales grew at a tepid 2.7%, compared with last year's torrid 47%, Axios' Joann Muller reports. Why it matters: The EV shift was never going to be clean and swift, even though some companies (and investors) projected up-and-to-the-right growth based on Tesla's meteoric rise. Now that the early adopter era is over, those rosy sales expectations have met reality. Tesla is getting an especially cold slap in the face: Its first-quarter deliveries were down 8.5% this year from the same period a year earlier. Other carmakers' EV sales are increasing fast enough to keep the overall market growing — Hyundai's Q1 EV sales rose 62% year over year, for example. By the numbers: Americans bought a record 1.2 million EVs in 2023, according to Cox Automotive's Kelley Blue Book. That's 7.6% of the total U.S. new-vehicle market, up from 5.9% in 2022. But EVs' share fell back to 7.1% in the first three months of 2024. Cox is sticking with its forecast for 10% EV share by the end of 2024. Throw in hybrids and plug-in hybrids, and Cox says "electrified" vehicles could comprise almost 24% of new car sales by then. (Cox Automotive is part of Cox Enterprises, which also owns Axios.) Between the lines: Wider EV adoption faces two big hurdles: affordability and charging access. What we're watching: The first federally funded high-speed charging stations are finally opening, but projects could take a couple more years to complete. Meanwhile, a new charging company called IONNA — a joint venture by seven automakers — plans to build 30,000 fast chargers in cities and along U.S. highways.
TSLA has significant risk.. their deliveries were almost 200k below estimates. They're getting smoked in China and if Chinese EVs can expand to Euro area, it's hard to see TSLA retaining market share. Mexico plant is delayed too, so lower volumes and squeezed margins. $100 in sight? Elon has avoided making any real comment about China, but he's about to turn a Kyle Bass.
You'll have to show me where you found 200k cars below estimate, it's absolutely incorrect. At the end of last year the bears in unison said BYD had passed Tesla in total sales. I don't hear them today when it was announced Tesla had reclaimed the top spot in Q1, and while I don't care a millisecond about it, it shows that all EVs had a rough start of 2024.
Not quite. At least in California, the roads are in abysmal condition. The roads in Europe, from rural roads to highway, are in tip top shape. Avg distance driven in Europe is 86 km I believe I read somewhere, another reason they have no need for over 400 km of EV distance and prefer small urban commuters to big pickup trucks. Their cities are much better served by bus, subway systems and suburban rails. Yes, some euro nations will be 100% EV before others. It's easier for Norway with a population of less than 6 million and a directive government.
I didn't say the roads in most of the USA are "great" at all, just that fuel taxes go towards that. But we have way more miles of them and infrastructure involved to build, rebuild and maintain. Market share is very secondary to profits, revenues, cash flow, and you got it ..... most important margins. Especially from a growth company that is showing signs of lagging growth (as measured against its own prior growth - and not against competitors.