That means, a drop of the actual value of cars on the market. Why shall someone buy a ev now knowing that its value is 5 years is zeroed?
Nah people will still buy high just to have a new car every other year
I called this months ago. Chips as well. I just paid for a Latiat and I’m sure in 3 years it will be worth peanuts, first 8 years will be moores law for EVs
This article is already out of date. They are predicting battery prices to fall by 40% in 2025 compared to 2022 levels. That would be around $90 a KWH. ($150 in 2022) 2023 will probably hit around $90 as a global average.
I don’t see car prices falling
does this mean big ev price cuts coming?
Wonder when we get to see those savings. More like making the margins wider for manufacturers
It’s an awkward time for manufacturers. They are pouring billions into brand new factories for EVs and batteries, and on R&D for these. Whi h won’t start really paying off for 5-10 years. So during these period they have big losses on paper. Give it 5 years for that main manufacturing capacity to be online and selling vehicles, and we could see things start to fall significantly.
“Lower battery prices could mean EV cost parity with ICE”
Not if these dealers have a say in it. Freaken shysters.
I wish we could get them out of the mix entirely. They want to sell ICE, let 'em sell ICE. Those cars ain’t going away anytime soon. Open dealerships that sells EV’s and let us live in peace and quiet.
Big Auto made a HUGE mistake in backpedaling to ICE during the speculator-based price spike of Lithium.
They committed capex for ICE and can’t shut it down. Now are back to lobbying to extend ICE because of their inability to stay on plan with EV.
Byeee
I thought we are heading towards running out of lithium? Why aren’t battery prices skyrocketing?
It’s almost as if these news outlets don’t know anything about EV economics.
Don’t tell the popular news media this! They’ll lose their old money sponsors!
I hope the popular news media is aware their sponsors are gonna go broke! They are betting their long term reputation on needs and cash they are getting from the Knickerbocker Ice Company!
this article was literally posted by an old money sponsor lol
Faster than expected by whom? Not Tony Seba to be sure.
As Cathie woods pointed out, if you simply double production you get one level of price reduction. If you also work hard on developing the production methods, you get more of a reduction.
Interesting they assume the profit levels decrease significantly from CY23 to CY24? Whats the basis for that assertion? Seems like twisting the GR&A to accentuate GS’s claims.
I hope the prices will go down in BC Canada. Most good electric vehicles start at 55k I want to buy one but that is way to much money.