China has a problem with overproduction in some areas, EVs in particular. That's why they have fields of rotting EVs that they can't sell.
https://www.youtube.com/watch?v=1SEfwoqKRU8
Notice how that Forbes article confuses sales with shipments. They aren't the same thing.
https://www.factorywarrantylist.com/car-sales-by-country.htm...
Meanwhile, the number in all of Africa combined was 790,100.
https://www.statista.com/statistics/473598/passenger-car-sal...
I'm sure they'll ship some off to Africa if they can't find any other options, but as you say they're competing against used clunkers from Europe, so the margins will be terrible.
The major advantage of liquid fuel compared to electricity is that it's easier to transport and store, and harder to steal, which is why I don't think EVs will see significant take up in the third world.
"China has a much larger problem with unsellable ICE vehicles which don't meet the new emission standards they're about to introduce."
[1]: https://www.ev-volumes.com/country/total-world-plug-in-vehic...
In contrast, most plug in hybrids in the US assume you’ll regularly turn the engine on in normal operation.
Tesla isn't at much risk from BYD. BYD will eat the low end of the market around the world though.
Yeah, it's a very bad analogy, nobody on budget buys a OnePlus 11. A One Plus 11 is 1- just slightly cheaper than an iPhone 14 and 2- is technically on par https://www.makeuseof.com/oneplus-11-vs-iphone-14-plus/ - almost a counter example ironically
If you take a Tesla in for repair, they'll most of the time do a goodwill repair which doesn't come out of the warranty pool, and therefore doesn't affect profit per car.
They work out to the same number in the end, but per car profitability looks better for Tesla when trying to attract suck... outside investment.
If Tesla presented its numbers the same way that Toyota and Ford did, they would both have higher profits-per-car than Tesla despite selling many cheaper cars, due to the huge markups on their real moneymakers: trucks sold to U.S. customers (Ford's profit on an F350, their most expensive vehicle, can exceed the retail price of a Model 3.). The profits on trucks are why Musk is trying to get into the truck game with the Cybertruck.
No they would not, and this is a ridiculous thing to say if you had taken even 5 minutes to look at the earning reports of these companies.
Even when accounting for the small differences between car manufacturers on how they make their per-car-profit calculation, they still report their total earnings the same way.
2022 Tesla made $13B selling 1,3 million cars. 2022 Toyota made $18B selling 10,5 million cars. 2022 Ford lost $2B selling 4.2 million cars. 2021 Ford made $17.9B selling 3.9 million cars. (added Ford's 2021 result for a better comparative)
Every car manufacturer does some slight variation on how they get their margins per car figure, but it does not account for major difference you think they do.
but yeah that's where the money is.
What definition of 'matters' are you using?
They're producing more cars, still making a profit.
I work for a company that isn't the absolute most profitable per unit. My investments are full of companies that aren't absolutely the most profitable per unit.
Like buildings in Ghost Cities.
https://en.wikipedia.org/wiki/Under-occupied_developments_in...
Feels like at this point whoever takes the Chinese market gets the crown, and I suppose India will be next in this game.
How are you defining 'powered by coal', because China's energy mix isn't 100% coal either.
I'm not saying it's bad to move to electric vehicles just that it's not the wonderful win for global warming in China (or really anywhere else) right now and for the foreseeable future.
Electricity transfer, battery charging, and electric motors are all over 90% efficient, with overall "well to wheel" efficiency around 80%.
Why?
India is pretty crowded.
This can be achieved by systematically ban cars from cities. By investing far more into trains then into highways. By having good public transit even to remote places. And by encouraging small vehicles when necessary.
There is plenty of room in the market for BYD and Tesla. For the next decade at least we won’t reach the saturation point for EVs. Remember it I will end up eating pretty much the entire ICE market barring some incredibly small niche segments.
We are looking at 2035 or 2040 before EV players really start going head to head for the same slice of the pie instead of just growing the pie.
I ended up going with a Mazda CX-5. Out the door price was around 36,000 USD and it was available that day.
EV companies need to make cars that are affordable first. So far they only seem to target the luxury car market.
My prices are all new, 2023 models.
I clicked on “explore inventory” at their website, put in the Los Ángeles zip code of 90001 and search radius of 200 miles. Found this one for $39,670 before tax credit: https://www.tesla.com/m3/order/5YJ3230_87dfdbbc95d70f719a4d1... .
So, after the tax credit that would be $32,170 for a new Model 3 with no wait time (it is in inventory).