Disclosure: I own one-share each of $NIO $F and $GM to force myself to follow along in how the car business develops going forward. I will probably buy one-share of Toyota who has quietly entered the BEV side of things after dominating in the PHEV side of things. I already own - by extension of the Korean Fund $EWY shares in Hyundai and Kia - which are also doing very well with their PHEV/BEV/H2 initiatives.
Watching how this big change in this large consumer discretionary business unfolds going forward will mean some will win big, others might, as Musk contends, go to zero.
So, I’ll be placing even more car news on this board to try and follow along at home. Today’s visit to the new/used car lot was an eye opener to me. I still can’t get over the 8 to 10 year car loans.
Prediction: the first OEM to give us an entry level BEV in the $20-$25 range is going to win big if they can boost margins - somehow - with add ons. I saw enough fat tired EV bicycles today in Key West to tell me there’s a niche for cheaper lower range EVs than ever before, and, consumers not willing to pay $1,000 monthly for an EV car will opt for a car costing $400 a month. (It rained hard while I was down in Key West and I know everyone on EV scooters, boards and bicycles had to be thinking how nice it would be to have a roof over their heads at that moment.)
That said, with higher rates in the wings, how long before this “repossession armageddon” to kick in as my friend selling new and used cars at a big car dealership told me today?
Then toss in this thought: how many OEMs selling EVs who don’t have Tesla’s experience at OTA repairs are going to send owners of their EVs to dealerships for service after they’ve cut the dealer out of the sale of said EV?
As TMFRob just said, interesting times ahead in the car automotive space.
The Street headline: Ford Having Some Really Bad Luck With Its Vehicles
Ford has recalled a total of 215,834 vehicles in three safety recalls over the last two months.
KIRK O’NEILJUL 10, 2022 8:05 PM EDT
Ford Motor Co. (F) - Get Ford Motor Company Report would probably like to hide under the hood of its vehicles lately, but that might not be such a good idea with the all bad luck the automaker has faced with its vehicles.
The Dearborn, Mich., company on July 8 issued a safety recall of a total of 100,689 of its 2020-2022 Corsair, Escape and Maverick vehicles with 2.5 liter HEV/PHEV engines because of an under hood fire hazard, according to a statement it sent to UPI.
p.s. Two years ago I drove a hybrid Ford Fusion with driver assistance and loved, loved, loved that car. But can you imagine the affected people above who just pulled their respective Fords out of their car garages so that they might not burn down their homes?