Forced by reduced demand for EVs, especially trucks, a dose of reality appears to be hitting auto manufacturers.
GM Scraps EV Target
The Wall Street Journal reports GM Posts Strong Third-Quarter Profit, Scraps EV Target
General Motors is abandoning a self-imposed target for the number of electric vehicles it aims to produce through the middle of next year because of softening consumer demand, a surprise move for a company that was an early mover in this space.
The Detroit automaker walked back the goal while reporting a healthy third-quarter profit, despite the hit from the continuing United Auto Workers strike. The walkout, which began in mid-September, is now costing GM about $200 million a week.
GM planned to have produced 400,000 EVs over a roughly two-year stretch by the middle of next year, but has abandoned that goal. Chief Financial Officer Paul Jacobson cited a slowdown in the market for battery-powered cars.
Last week, the company said it would delay by one year the opening of an EV truck factory in suburban Detroit, among several recent signs that the burst of consumer interest in electrics over the past few years has faded.
Automakers Scaling Back Electric Truck Plans
Kelley Blue Book reports Some Automakers Scaling Back Electric Truck Plans
The Wall Street Journal reports, “Ford Motor is considering cutting a work shift at the plant where it builds its electric F-150 Lightning pickup as demand for the EV truck falters.”
The Journal’s source for the story is a UAW official “who leads the union’s local chapter that represents workers at the truck factory.” The official wrote, “It doesn’t take a rocket scientist to figure out that our sales for the Lightning have tanked,” the Journal reported.
Ford later confirmed the news but not the reason, telling Yahoo Finance, “We are adjusting the schedule at the Rouge Electric Vehicle Center because of multiple constraints, including the supply chain and working through processing and delivering vehicles held for quality checks after restarting production in August.”
Electric Cars Were Already Having Issues. Then Things Got Political.
Please consider Electric Cars Were Already Having Issues. Then Things Got Political.
The EV transition is running head on into polarizing politics.
Already this year, pricier electric vehicles got even more expensive for many potential buyers thanks to higher interest rates, which affect loan costs.
Now, anti-“woke” backlash and high-profile politics are increasingly making the suggestion of owning an EV a political cudgel. Or, as Ford Motor Chief Executive Officer Jim Farley recently lamented: “They have become a political football.”
President Biden’s support of the transition, through subsidizing manufacturing, extending tax credits for EVs and giving money for charging stations, has come under attack from Republican rivals seeking to challenge him for the White House next year.
Intensifying the debate is a continuing labor strike against the Detroit car companies by auto workers worried about whether they will have jobs in the new EV world.
Tesla’s Musk Warns of Cybertruck Challenges
Finally, please consider Tesla’s Musk Warns of Cybertruck Challenges
Chief Executive Elon Musk warned Wednesday that Tesla TSLA 2.49%increase; green up pointing triangle would face “enormous challenges” scaling up factory production of its long-delayed Cybertruck, signaling profits could remain under pressure in the coming quarters.
The electric-car maker reported a 44% decline in third quarter net income Wednesday, a steeper drop than Wall Street had expected, as price cuts across the company’s lineup continued to take a toll on the bottom line.
On Tesla’s earnings call, Musk struck a cautious tone about the year ahead, expressing concerns about the broader economy, including higher interest rates and their impact on consumers.
He also was tempered in his outlook for the Cybertruck, which Tesla plans to start delivering to customers at the end of November.
“We dug our own grave with Cybertruck,” Musk said, referring to the complexity of building the vehicle, which has faced cost overruns and design changes.
Tesla’s third-quarter financial results disappointed on a number of fronts, including missing analysts’ expectations on revenue and net income, adding to concerns about whether the company can sustain its growth trajectory with a rather limited lineup.
A Step in the Right Direction: UK Prime Minister Trashes Climate Change Goals
On September 21, I commented A Step in the Right Direction: UK Prime Minister Trashes Climate Change Goals
Cheers to UK PM Rishi Sunak for pushing back climate change goals from 2030 to 2035.
Virginia Governor Bucks California in Battle to Save Gasoline-Powered Cars
On October 20, I noted Virginia Governor Bucks California in Battle to Save Gasoline-Powered Cars
Virginia opted to go along with California’s effort to get rid of gasoline-powered vehicles. Glenn Youngkin, a Republican, wants to undo the damage of the his predecessor.
It is beyond stupid for any state to cede policy to nut cases in California.
I have now seen enough to know that I support Glenn Youngkin for President.
The country could easily unite around Youngkin.
EVs don’t do a damn thing for the environment. See Biden’s Solar Push Is Destroying the Desert and Releasing Stored Carbon
And to top it off, The National Highway Traffic Safety Administration has concluded Biden’s mileage standards have “Net benefits for passenger cars remain negative across alternatives” vs doing nothing at all.
See The Shocking Truth About Biden’s Proposed Energy Fuel Standards
Those are the right reasons to kill this insane push. And it’s safe to add inflation to the mix, not that additional reasons are needed.
When massive subsidies are not enough to help manufacturers nor induce consumers to buy, you know without a doubt there’s massive government overreach.
[…] time for Volvo. Other automakers such as Ford (NYSE:F) and General Motors (NYSE:GM) have been scaling back EV production as slumping demand for EVs poses a questionable outlook for the industry. But Volvo […]
Very few people with pickups will want a “Cybertruck.” They don’t check the functional boxes. None of the commentary here appears to be about trucks or from truck owners. Very typical.
EV’s being made to pay for gas taxes they don’t incur. EV owners didn’t really think they were going to escape that fee/tax, did they?
———
GOP states raise fees on electric cars as gas tax revenue falls
Democrats, environmental groups say the new fees are aimed at the culture wars rather than revenue shortfalls
By Kimberly Kindy
October 16, 2023
At least eight states, all but one controlled by Republicans, now require drivers of electric vehicles to pay a hefty annual registration fee of $200 or more. GOP lawmakers say it’s an effort to make up for lost gas tax revenue. EV advocates say it’s an effort to block sales of the environmentally friendly vehicles.
The new fees come as thousands more electric cars take to the roads, thanks in part to incentives backed by President Biden and Democratic lawmakers. But some Republicans say that movement has had unintended consequences — including a decline in gas tax revenue, which they have aimed to reverse with EV fees and taxes that are sometimes double the amount paid by owners of gas-powered cars.
The latest state to adopt increased fees was Texas, where the policy went into effect last month. Seven other states have also imposed taxes at charging stations. In all but one case — Pennsylvania, where partisan control is split — the state governments are controlled by Republicans.
…
link to washingtonpost.com
– Now require drivers of electric vehicles to pay a hefty annual registration fee of $200 or more.
> Wow, so now a minuscule $200.00 Yearly Fee is considered “Hefty” by EV Owners? Wait until these same EV Owners see the cost to have to recharge the batteries on a regular basis…
– EV advocates say it’s an effort to block sales of the environmentally friendly vehicles.
> Wow, so now a minuscule $200.00 Yearly Fee to offset gas taxes, Will Prevent EV Buyers, who are buying a $100,000.00 Car from being able to afford to buy it now. That Massive Jump from $100,000.00 All the Way Up To: $100,200.00 must have just threw them over the top of affordability… Please!!!
It’s tax receipts stupid! Gas is taxed at the pump and you therefore pay per mile at the pump. However, it’s politically impossible to tax electricity the same way presently. Government doesn’t survive on less of your money so it is desperately seeking new ways. This tiny $200 is a drop in the ocean compared with what’s being lost at the pump.
If gas station numbers decline, a further income source for the gov declines – property taxes, jobs, etc.
Once you accept this, you’ll start to see the future they have in store for you.
A simple solution is for Government to increase the tax on ALL the electricity consumed.
Let me throw more fuel on the EV fire. What if your EV car can’t obtain insurance?
——–
Electric cars risk becoming uninsurable
Difficulty pricing battery repairs forcing insurers to refuse cover
By Mattie Brignal, Senior Money Reporter
20 October 2023 • 5:00pm
Electric cars risk becoming effectively uninsurable as analysts struggle to put a price on battery repairs, the researcher for the car insurance industry has said.
Jonathan Hewett, chief executive of Thatcham Research, the motor insurers’ automotive research centre, said a lack of “insight and understanding” about the cost of repairing damaged electric car batteries was pushing up premiums and resulting in some providers declining to provide cover altogether.
Electric cars can be particularly expensive to repair, costing around a quarter more to fix on average than a petrol or diesel vehicle. Experts have previously warned electric vehicles are being written off after minor bumps because of the cost and complexity of fixing their batteries.
Mr Hewett said: “The challenge is that we have no way of understanding whether the battery has been compromised or damaged in any way.
“The threat of thermal runaway means that a catastrophic fire can take place if the cells of the battery have been damaged in a collision.
…
link to telegraph.co.uk
– Electric cars risk becoming effectively uninsurable.
> Simple, Biden Inc. Edict: “EV’s Do Not Require Insurance”
– Analysts struggle to put a price on battery repairs.
> Current cost of a battery repair/replace is roughly the cost of a current ICE Vehicle that gets roughly 50 miles to the gallon of GAS.
My company presented 3rd quarter results today. Our customers have inventory piling up, so our work slowed down enough that the CEO announced a hiring freeze and do not fill any positions that become vacant. Consumers can’t afford high priced cars, and that’s the stratosphere where EV’s fly.
Cruise robo taxis permit to operate has been revoked in California. Will self driving technology ever truly work?
they are permitted now and driving around here in SF as I write this. I still think it’s unnerving to see a car driving around with no driver. I don’t trust them, and self driving doesn’t really solve any pressing problems – unless it’s a labor shortage.
It’s only Cruise that was revoked.
Waymo still permitted to operate self driving taxi’s.
I have noticed a big uptick in articles saying that EVs are bad, too expensive, can’t be repaired and generally saying anyone who buys one is a fool. I can’t help but think that this deluge comes at a time when the Legacy car manufactures are on the ropes financially and lose money with every EV they sell. I am sure it’s just a coincidence but I have suspicions.
Everyone of you will be changing your view if and when oil becomes scarcer and pump prices become prohibitively expensive. Optimists say the Earth has unlimited oil. The peakists say there is a finite amount. Might not be a bad idea to have a backup plan no matter whats the truth. The pump prices of gasoline are the SAME as they were 11 years ago — $3.77 in 2012 and 2023 in Chicago — so no shortage right? (chicagogasprices.com). Hope our luck holds. The good news is all you have to do is watch is the pump prices to see whats happening.
I doubt that my view will change much.
Oil is not an infinite resource but it is also not running out anytime soon. However, the desire to keep looking for oil is declining as companies are hesitant to over invest in a resource that “may” become a stranded asset in the future. Which is why oil companies are currently focusing on profits over production. If prices go a lot higher, they will certainly increase capex to find more. Which would bring prices back down again.
Regarding gasoline, demand is slowly dropping as ICE vehicle sales decline and EV sales increase. This causes a surplus of gasoline, which brings gasoline prices down. Every barrel of oil that is refined produces around 20 gallons of gas and 10 gallons of diesel. Diesel demand remains strong, so refiners need to keep producing it. But that results in excess gasoline production in the face of declining demand.
The long run trend for gasoline prices is DOWN.
Apparently your understanding of oil refining processes are confined to the type of refinery the natives operate in the Syrian desert.
“The pump prices of gasoline are the SAME as they were 11 years ago — $3.77 in 2012 and 2023 in Chicago — so no shortage right? ”
Actually, those prices aren’t in equivalent dollars so, as PapaDave might say, it’s on sale. Considering the decline in dollar purchasing power it’s more than 50% off today!
True dat!
The worst thing going on for Tesla is possible manufacturing challenges for a new technology using the stanless steel body. It’s strange to me that Musk used dig our own grave with it. Tesla will come out of this just fine. I haven’t found any dire problems.
link to reuters.com
“We dug our own grave with Cybertruck,” he said on an earnings call after the automaker reported a hit to its margins, partly due to the truck’s production ramp-up.
The company has said it had the capacity to make more than 125,000 Cybertrucks annually, with Musk adding there was the potential for that to lift to 250,000 in 2025.
More than 1 million people had reserved the truck, he said, which involves placing a small deposit.
Some analysts were skeptical about the likely sales, particularly in the near term.
“I wouldn’t expect Tesla to be selling or producing anywhere (around 125,000 vehicles),” said Seth Goldstein, an equity strategist at Morningstar. “But I think that they’re giving us an indication of the capacity they’re going to make available for the Cybertruck as production ramps up.”
The automaker is expected to announce pricing for the vehicle at an event at its Texas factory on Nov. 30.
The company, which built its first Cybertruck in July, had in 2019 expected to price the vehicle under $40,000, but electric vehicle prices have since risen due to an increase in battery raw material prices.
The rival R1T is priced from $73,000, while the F-150 Lightning starts from about $50,000.
EV demand has been on a downturn over the last year as higher interest rates push up financing costs and discourage consumers from making discretionary purchases.
Tesla, in response, has aggressively cut prices of its cars this year as it looks to grow its user base and take advantage of its ability to sell its high-margin self-driving software in the future.
It will take decades before there are enough EVs in the world to make even a tiny dent in emissions and global warming.
The rapid growth in EV sales in the last ten years is slowing. It will be another two decades before annual EV sales exceed ICE vehicle sales, not matter what govt mandates are tried.
As ICE vehicle sales slowly decline, it will reduce demand for gasoline, causing a surplus of gasoline, thus lowering gasoline prices, and reducing the desire for “everyone” to switch to EV.
Tesla can lower prices to the point of losing money on every vehicle, and they still won’t be able to convince everyone to switch to EV. In addition, sadly, EV vs ICE is becoming another stupid political divide.
“In addition, sadly, EV vs ICE is becoming another stupid political divide.”
Appreciated the sentiment, but would strike the word ‘political’. Pretty much every divide is about people wanting to impose their will on those fools who think differently from them. Politics, athletics, cultural, religious, et cetera.
The typical person fritters away too much of their lifetime harping on the lives/beliefs/choices of others!
I agree PD, but I am thinking gasoline will be readily around for more like 50+ years, as will ICE Vehicles. Maybe not made in America, but what is these days? Easy to fix, Rob from other ice vehicles out of service, can rig to get by easily in some cases, still will be used in China and elsewhere around the globe, etc…
Simply can’t say that about EV’s.
That is part of the problem. Gasoline will continue to be around because it is refined from every barrel of oil because it is too difficult to make other molecules. No fear of us running out of gasoline. The problem will be “too much”’gasoline, resulting in very low prices.
It is easy to split and join petroleum molecules.
This is done every day in every country with a refinery.
Graphite
Nickel
Cobalt
Lithium
Rare earths
These are the minerals that EVs need and they should all be in short supply with the number of EVs being built in the world yet all of these minerals are declining in value and have been for quite some time now. Supply is increasing well enough to cover demand and then some. Maybe in the future demand will outrun supply but I don’t think so at least in the next five years.
Planning for a Republican government?
No. I am planning on being an overseer for purple six-limbed Aliens when they invade. They will need someone to keep the slaves in line.
(psst–they’re already here)
+ copper
There’s not enough copper to replace ICE vehicles with EVs
Cooper can be replaced by aluminum as a conductor and is already used in high-tension lines.
Aluminum has roughly 50% of the conductivity of Copper, so no it’s not as of yet. Scientist also do not have a way to make it more conductive as of yet, but they think they may be able to alter the structure of Aluminum at some point in the future, but don’t know just how, just yet, to have it possibly become viable.
Someday I would guess that will become the case, but nobody knows when that will occur, other than thoughts and ideas and simply guessing. Hey scientist think we will land on Mars, and probably we will someday. I won’t be alive and neither will you be, to see it happen, but someday it may…
I like the idea of plug-in hybrids.
Cons: expensive, two systems, more to go wrong
Pros: no range anxiety, can run on battery 90+% of the time and reduce emissions, can take advantage of gas prices when cheap and electricity prices when cheap (or sometimes free), the more people drive vehicles using batteries (EV or hybrid) the cheaper gasoline will be for everyone with an ICE engine
On markets, with the pullback in oil prices, and oil stock prices in the last few days, I used some of my cash position to pick up a few of the oil stocks I recently sold. Nice. Love buying when things are on sale. Still lots of cash ready to go to work if prices drop further.
There will come a time when there will not be any gas stations!
Not in my lifetime, so that doesn’t matter to me. There are still 1.5 billlion ICE vehicles on the world’s roads today. This year 12 million EV and PHEVs will be sold. And 65 million ICE vehicles. So the total number of ICE vehicles is still growing.
There will also come a time when the universe ends. Which also means nothing to me.
Why don’t you tell me something useful?
Like how you are using your knowledge and expectations of the future to get wealthy today.
“When massive subsidies are not enough to help manufacturers nor induce consumers to buy, you know without a doubt there’s massive government overreach.”
Agree 100 percent…. The sad part is, you know what the governments response will be….. the subsidies aren’t working…. we need MORE subsidies.
Ugh
It’s a fact of economics that you get more of whatever you subsidize! This includes poverty. The demoncrap party has proven this time and again. Infact, welfare recipients have become the fastest growing and most reliable constituents of the party!
Just bought a new car. I went for a Hybrid. So far, it seems like a good choice for a car for daily use. I wasn’t interested in an EV but this looked worth a try.
Maybe hybrids will be the sweet spot.
My mom had a Prius and it is very dependable. When she passed my brother nabbed it. It’s over 15 years old now. The older ones were not plug-in. Not sure about the new ones.
I am far from destitute and the newest vehicle I own is a 1985 Blazer (almost forty years old)
I get about 12mpg. But it’s very reliable, parts when needed are cheap and readably available (at $4,000 the replacement 350 engine is the cheapest engine GM sells. Try getting a valve job on what you own for that price). I can fix it myself, insurance and registration are minimal. Every year it’s worth more.
No it won’t be. The future is H2.
—–
BMW’s hydrogen-powered iX5 SUV survives brutal desert heat
By Michael Franco
October 19, 2023
link to newatlas.com
When a 2023 BMW iX xDrive50 AWD STARTS @ $84,995.00 and Goes Up To: $170,000.00 (A Nice One), then it best last a #&$*$&# LIFETIME!!!
It only sounds expensive because you aren’t making enough money.
All you naysayers are so dumb. Didn’t Biden admin just fund 7 regional H2 hubs? Can’t you read the writing on the wall?
They desperately want an energy solution that is not only “green” but also kills the ability of countries like Russia, Saudi Arabia, Iran, etc. to control the economic of the world via manipulation of the oil they choose to bring to market and at what price.
EV’s are showing too many problems and doesn’t address the hostage economic problem.
Yes, H2 is not 100% green at this point, but there is much work being done that will eventually allow us to extract H2 from water and not natural gas.
GSo the Car Manufacturers finally thought about it, and realized that it Won’t Work right now, or in the near future, more than likely. There are a host of reasons that this was and is the case, but too much Free Money drove it (Think Climate Change) to the top of the Power & Money seekers list of “Must Have Accomplishments” This partial list of obstacles, is simply getting in the way…
– Infrastructure and lack thereof
– Cost and people have no money
– Environment and impact concerns
– Minerals and lack thereof
– Unions and they want there’s too
– Manufacturers and the change over
– Supply and lack thereof
– Backlog and lack thereof
– Inventory and how idly it sits
ETC…
Ive straight up had it with all this green crap and the lunatics forcing i t on us. I could see them blowing up the entire middle east while having weeks long discussions over our gas stoves. Knock it off imbecils. They clearly have some sort of utopian nightmare planned for everyone and most of us dont want their crap. Just l Iike the rest of the world is also tired of their crap. They push and push straight into disaster every single time.
Manheim might sell slightly used Tesla and new Tesla, but old Tesla are bad items.
Soft consumer market plus high real rates equals weak car sales. Nothing new and seen it before. EVs are here to stay and we will see whether they come out stronger or not. My money says yes at least with Tesla because financially they are the strongest with the best technology. For the Cybertruck I have no idea but frankly it does look cool and for some strange reason it resisting bullets has an appeal to me because it’s cool too. However I won’t buy one because I have no need for a truck.
my guess is Tesla gets cannibalized by the majors when Musk gets into some sh** that he can’t get out of.
Biden’s silly EV push is going to break the backs of Ford and GM. Then the government will bail them out of bankruptcy. What a country?
No bailout without a budget. No budget without a speaker. No speaker without a candidate who did not sell out and vote with Democrats for the continuing resolution.
Often the money is made not in actual production but in the transition! The green move (a deliberate quest for Poverty) will shift billions into the hands of the promoters. An old saying: “Yes, there is a fool born every minute and these fools are the legitimate prey for every scam and con artist, shyster, wall street broker and !politician that has ever existed!” It is for this reason that bankers down through the ages have funded both sides of wars!
1) Financial rate on auto installment loans for 60 months are : 7.88%. For 72
months : 8.12%.
2) Ford and GM sold tons of trucks and cars to their dealers, at higher sticker prices,
before the strike. Those cars are still coming, flooding dealer’s lots.
3) Dealers inventory at higher sticker prices and higher auto loans might send them to the cleaners. Avis(CAR) after 2Y in a trading range, might be in trouble.
4) Manheim might reject bad items. Bad is bad. Bad items have no turn over, even
after a deep discount.
No amount of forced Govt mandates, has ever lasted, the laws of a free market, always prevail…The green revolution market, is now an officially dead market for at least the next 2 yrs. There’s no money to be made trying to sell or force people to ride a dead horse…
Sadly, our government will continue to poor money into green initiatives anyway.
pour
Haha. It was a play on words – The government is making us “poor” by supporting these green initiatives.
its not our government… and that is the problem on many many issues, not just the EV boondoggle.
Naw! Enough money and anyone can fake anything: just look at Pedo Joe!
Greta feels your pain.
Spit in your face rejection of EV money holes are not softening consumer demand. The tiny market of virtue signalers and economically innumerates is tapped out by Tesla.
The problem with electric trucks is they can’t tow anything. If you just want to drive one around town and occasionally put something in the bed like a new couch or fridge that’s fine. But if you want one to actually use as a truck, they can’t tow anything for any distance so it should be no surprise they aren’t selling well.
As for Tesla’s Cyber truck, its one of the ugliest things I’ve ever seen. I’m not the only one who thinks that either. Anyone who wants one tends to be someone in the category of drive it around town trying to look cool.
Hauling was an issue when the first diesel converted from gas engine pickups came out. even dealers were warning not to carry anything heavier than your hat in the back. Had to go to real diesels to fix the issue. Where will electrics go?
“Where will electrics go?”
To the few who can dedicate the entire serviceable life of some trucks, to dense urban, short range workloads. Hauling local beer to bars. as well as hauling urban cowboys to drink some of the beer, to the bar as well. Giant diesels idling in urban gridlock while spewing soot, is very much suboptimal. Ditto, honestly, V8 “Platinum” trucks rolling on rapstar wheels.
“To the few who can dedicate the entire serviceable life of some trucks, to dense urban, short range workloads.”
That is a viable niche, though a full size van might be better. Either one could tow a small trailer with a welder or a lawn mower and not lose much range in the city.
As far as the Tesla semi, Tesla bought most of them because nobody wanted to buy them. Smaller trucks in urban areas can make lighter deliveries.
EV trucks are extremely range bound when it comes to doing what trucks are made to do – carry things and haul things. Then you have to wait, wait and wait some more while it recharges.
Rivian is available if you have a spare 75,000+, is not too ugly and useful.
But Tesla is ugly, and seems impractical.
Something you would use on Mars, i.e. maybe 100 years from now.
You will own nothing and like it. So you wont need to tow anything.
When I owned nothing I didn’t like it one bit.
I have never owned a truck so as to the pulling potential I have no idea. For looks I find that all trucks look so much alike that the differences between them are apparent only to truck connoisseurs and I am not one of them. The Cybertruck is certainly the most distinctive look and instantly recognizable. It does look like something out of a science fiction story but since I have been a science fiction fan since 8 years old I kind of like the style.
So you know nothing about trucks, have never owned one, and kind of like the style because you liked sci-fi at age 8. That pretty much describes the average Cybertruck customer. Now do you have $98,000?
Do you need to be a real cowboy to own a pair of cowboy boots?
Yes, to own a pair of “real” cowboy boots and not the crap boots idiot urban cowboys buy.
Yes I do by a large margin.
Come to think of it, I’ve never seen an EV truck hauling anything! Great observation!
It probably was hauling something.
It had to drop the load off on the side of the road and go get recharged.
Everyone needs to sleep on the shop floor with Elon until .guv comes up with more subsidies and bailouts.
When you have billions you know you have that to fall back on and know in the back of your head you dont really have to do that and can leave anytime you want.
It would be like camping out for fun. He wakes up filthy rich while many of the employees wake up with sore joints and muscles wondering if they should use this weeks paycheck to buy food or pay the rent.
I am not impressed by his antics at all.
No one forced to work at Tesla
Not enough copper in the world…
I don’t need a car for a long time but if I needed one it would be a diesel Mahindra out of spite for all these clowns and I don’t even want a jeep.
Great article Mish. I appreciate the EV industry summary.
From Powell’s lips to your ears on the banks issues.
link to wallstreetonparade.com
Never put your savings in a bank. You will lose it all. Bankers wear expensive suits because they are not good for the money they owe you.