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Car dealers say they can’t sell EVs, tell Biden to slow their rollout
(arstechnica.com)
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this post was submitted on 28 Nov 2023
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I've been eyeing an Ioniq 5 for about 18 months now and just checked local pricing again and they haven't budged an inch on pricing (even now with 2024 models being sold with 2023 models left on the lot) nor are they even carrying inventory outside of the most expensive trim packages of Limited AWD. I'm interested in range, so I'm wanting a Limited RWD but they aren't being stocked.
This article screams "I'm not doing my job and it's all your fault!"
There's a 2008 style crash coming in the credit market for cars. There's a lot of subprime loans and a lot of car companies that got into financing that shouldn't have. Wait til they really get squeezed. Who am I kidding tho, they will just ask for a bail out.
Some of us are still miffed about the 2008 bailouts, which ran entirely counter to the market forces rhetoric. Then the police turned off all the cameras and ran OWS off with riot squads.
No resolution was offered. even Dodd-Frank was reversed by Trump.
So you can expect a lot of civil unrest. It's been due since the great depression, about a century ago.
Wrong! They will let it crash a bit and everyone will panic and see that shit is about to get real. The government will offer to defer the pain by bailing out the very rich and get things moving again, it’s the only way the government at the time will be able to hold onto power. People are fucking idiots so they’ll do nothing because they don’t like being uncomfortable for a short time even if it means they are getting slowly buttraped over the medium to long term
When beater 20 year old trucks can't even be found for <$10k, you know somethings gotta give
And the best part is you who foresaw it and tried to warn everyone, will have to pay personally towards the bailout
The dealer near me has added an extra 5 grand for market adjustment too.
Yeah, dealers around here have a huge markup over MSRP, “because there’s so much demand.”
Okay, I can wait.
Meanwhile, up here in Canada I put a down payment on an IONIQ 5 Ultimate Edition (Canadian equivalent of the US ‘Limited’ model) back in early April 2022, and it still hasn’t been ordered, because Hyundai decided to flood the US market while stiffing the Canadian market.
Hyundai (and other EV makers) are fucking around, and then blaming the market.
Yep sounds similar to what's happening here. Since the car was first released you could spec one out with Limited RWD on Hyundai's site but none existed in the entire country up until the last few months when they began trickling out. The website tells you that you can't actually order or build the car you want and instead must visit a dealer and choose something among their inventory. I'm sorry but I'm not going to compromise on a major purchase like this for a brand new vehicle. Dealerships can eat a dick.
While I still think that Hyundai engineering and design did some real magic with the IONIQ 5, I just can’t help but feel like the rest of the company is just screwing the pooch on this car. They’ve flooded the US market with models people there don’t seem to want to buy, and dealership lots often have a dozen or more waiting to be sold.
Meanwhile, here in Canada buying one is damn near impossible. That doesn’t seem to stop them from sending out mass marketing materials and ads trying to sell them (or the IONIQ 6), mind you — I just wish they had focussed first on ensuring their biggest boosters globally were getting the cars they want, as opposed to putting lots of cars nobody seems to want on US dealership lots.
(FWIW, my dealership told me they weren’t being allowed by Hyundai to order any 2023 IONIQ 5s. This seems to be a fairly common occurrence across all dealerships here in Canada, with just a few cars trickling in each month).
Jfc. I have a feeling this is going to become a much more common tale with high tech or precision manufactured goods, goods just being diverted from western markets to Group of Friends and Axis of Evil countries. Hopefully America doesn't go full isolationist and we continue to seek global trade such as the trans pac trade agreement and similar trade agreements, keep the dollar nice and strong.
Issue is the dealership deals made with the auto manufacturers. Inventory on hand is often times (not including some of that bs that had dealerships marking stuff way over msrp) only set up to make the dealership a few thousand in profits.
For any major price reductions that are really needed, the auto manufacturers would have to be giving the vehicles to the dealerships for less money.
In other words, ford will have to drop prices for dealerships to drop prices.
This is bananas to me. The new model is out but last year's model isn't discounted? No wonder nobody likes dar dealers.