G. David Felt

Cox Automotive group released their Q3 2023 EV sales for the automotive industry in the United States showing that in Q3 EV sales jumped past 300,000 for the first time in the U.S. market. EV sales through September reached just over 873,000 which puts the market on track to surpass 1 million EV sales. This milestone is estimated to be reached some time in November. Q3 EV sales estimates are 313,086 EV sales, a 49.8% increase over the same period last year. This is an increase from the 298,039 EVs sold in Q2. Sales of EVs posted noticeable gains over 2022 with Hyundai, Nissan, Volvo and Mercedes having a 200% increase in EV sales thanks to the new products they released to market. Total industry sales in Q3 showed EVs had a 7.9% market share. This is up from 6.1% a year ago and 7.2% in Q2 2023. As pointed out by Cox, EV sales have now had 13 straight quarters of increased sales. EV transaction prices were down in Q3 compared to a year ago with most of this due to Tesla slashing prices to increase sales. Prices are now down 25% across the board for all EVs year over year. While price cuts helped Tesla grow their sales which is showing a 19.5% year over year increase and an industry overall growth rate of 16.3% this does come with the downside that Tesla has lost market share hitting 50% as more EV options from competitors hits the sales room. Tesla had a 70 plus % market share ending 2022, closed out Q1 2023 at 62% and now closes Q3 with a 50% market share. German luxury makers showed rapid EV sales as Audi, BMW, and Mercedes showed a tripling of sales year over year with Audi posting the largest increase of a 94% sales increase in EV sales. While we have the 100% club of Fisker, Rivian, Tesla and Vinfast who only sell EVs, the rest of the automotive industry is a mix of ICE and EV sales and as such was led by BMW who closed out Q3 with 15.6% of their auto sales being EVs in the U.S.. In 2020 the U.S. had sold just 250,000 EVs with the bulk of that being Tesla. Three years later we are primed for EV sales crossing 1 million sold. Tesla still is the undisputed leader in EV sales, but their market share is dwindling. The coming flood of EV models over the next 18 to 24 months have analyst forecasting a doubling of EV models offered and a major shift in marketshare for every auto company. Full details of the sales report can be read here: Q3-2023-Kelley-Blue-Book-Electric-Vehicle-Sales-Report.pdf The key takeaway for Q3 is that EV transaction prices are down 22% with an average transaction price of $50,683 paid in September. This on top of other companies rapid increase in sales such as Rivian who delivered 15,564 EVs for Q3 representing a 126% increase year over year. GM began deliveries of the Silverado EV with 18 units delivered at the end of September. View full article

I would totally disagree with him as rental is a great way for people to explore and try out the EVs. Usually good rental experience will lead to future purchases.

What site told you this or did you get it in email? That is very weird, I have never seen it before.

October 2023 the IRS released this clarification that the Inflation Reduction Act will offer the provision that allows consumers to transfer their credit to the car dealer, instantly reducing the purchase price of new and used EVs at the time of sale. Registration Requirements PDF rp-23-33.pdf This guidance also provides proposed eligibility rules for the previously owned clean vehicles credit. End result is that ELIGIBLE CONSUMERS may transfer the full value of the new or previously owned EV credit regardless of their individual tax liability to the dealership. Per the IRS press release: “President Biden’s Investing in America agenda is focused on lowering transportation costs for consumers and giving American car companies the tools to lead the market,” said Chief Implementation Officer for the Inflation Reduction Act Laurel Blatchford. “For the first time, the Inflation Reduction Act allows consumers to reduce the up-front cost of a clean vehicle, expanding consumer choices and helping car dealers expand their businesses. The IRS has focused on streamlining this process for car dealers as part of its commitment to improving service and helping taxpayers claim the credits they are eligible for.” Later in the month of October, the IRS will allow auto dealerships to register via the IRS Energy Credits Online, this new website will allow the dealerships to signup and take part of this new instant rebate program that the IRS has stated will be a 72 hr turnaround for the dealerships to get the rebate deposited into their bank account. Benefits for the consumers are that the rebate will be instantly taken off the agreed too purchase price reducing the amount they need to pay via finance, cash or lease. Full details for those wishing to read the long winded and dry IRS press release is here: Inflation Reduction Act Rebates So what do you think about this Instant Rebate for EVs? Good Idea? Will it Jump Start EV sales? Sound off and let the debate begin! View full article

Yes, they apply to both buying and leasing, this is how Hyundai, Kia and Genesis are able to offer the $7,500 rebate on their EVs. As they ramp up production in the US, many of this model year are from Korea and so only leasing gets the rebate, next year they will produce all their EVs in the US having the rebate for both buying and leasing. Cool thing is all those new EVs made in Korea that do not sell can be turned into demo EV's and then sold as used with the $4,000 rebate even when they were made out of the country. Plenty of ways to get around the U.S. built only for new sales rebate.

Yes, for me I always hated the idea that you had to wait till the end of the year to get your credit and you had to finance and pay the full amount when it should have been a rebate all along. Now with January 1 2024 the credit becoming an instant rebate at the point of purchase, EVs sales should take off and of course as you pointed out, $4,000 rebate for used EVs makes it very enticing. Another point is that if you have both a 220V outlet for a dryer as well as Natural Gas, and like me your not using the 220V as I use Natural Gas Dryer, then I can easily use that as a home charger circuit breaker to have it in my garage and just change the location. Very excited for this rebate, next year could be the year for my first EV.

Very cool that the EV rebates for new and used as well as Leasing vehicles becomes an instant rebate at the dealership starting in 2024. EV tax credit becomes instant dealership rebate in 2024: Here's how (greencarreports.com)

Very cool, the rebates become instant starting in 2024 for EV purchases of new and used vehicles plus leasing. EV tax credit becomes instant dealership rebate in 2024: Here's how (greencarreports.com)

Agree that it is an interesting choice, I suspect that the ZDX was an easy choice to use since the ICE ZDX never did anything. That was one hideous vehicle in ICE form.

We will see as GM has plenty of booked orders, be interesting to see how many actually get converted into real purchases and if we end up with EV inventory sitting on the lot, then we will see a deeper discount I think. AS they say, we are in interesting times. Kia EV9 is a game changer for sure.

This should be interesting. https://www.utilitydive.com/news/evs-reach-86-percent-global-vehicle-sales-2030/695324/ This is also interesting I feel: A big EV purchase decision that's not about the car model you buy (cnbc.com)

Seems that Tesla NACS take over of OEM agreeing to use the NACS port is causing a huge win for money to be made by Tesla. As such, it seems the competition has finally woke up to the need of reliability and quality charging. EVgo Enhances Charging Network with ReNew™ - The EV Report

Knight Rider, A-Team, Dukes of Hazzard, Hart to Hart, MacGyver, Magnum P.I., Miami Vice and LOVED V were the only shows I watched. WOW, Talk about a walk down memory lane. Would love a modern CGI version of V as that would just rock.

https://www.caranddriver.com/features/a42387169/lightning-lap-2023/ Pretty impressive, what would you.domwith an extra $80K?

October 5th was a major press release for Genesis-Hyundai-Kia as all three auto companies announced that they would begin shipping their EVs at the start of Q4 2024 with NACS ports on their EVs. With NACS ports, Genesis, Hyundai and Kia EVs will gain access to the 12,000 plus North America Tesla Supercharger stations which have over 50,000 charging stations. Genesis, Hyundai, Kia EVs are built on the E-GMP or Electric Global Modular Platform that is an 800V fast charging platform. The current EV owners that have CCS ports will have access to the Tesla Supercharger network starting the beginning of Q1 2025 and upon receiving their CCS to NACS adapter. This also includes that Genesis, Hyundai and Kia have joined six other global leading auto companies in building their own high power North American Charging Network that has a committed 30,000 chargers. This new network will have the first of the Charging Stations opened in Summer 2024 in the U.S. and later in the year in Canada. All three auto companies have stated that their specific EV applications on the customers cell phone will be updated allowing them to use the Tesla Supercharger stations, pay for their charging and any other needs at the tesla sites giving customers the ultimate experience in a single smartphone app for all their EV needs. Genesis Newsroom (genesisnewsusa.com) Hyundai Electric Vehicles to Add North American Charging Standard - Hyundai Newsroom KIA TO ADOPT NORTH AMERICAN CHARGING STANDARD IN THE FOURTH QUARTER OF 2024 (kiamedia.com) View full article

Where are you getting this information from as that has been debunked already about fast charge speed on modern EV battery packs. This is the same bad info about how fast charging will reduce your cell phone battery life. That also has been debunked especially by Apple and Samsung. For the auto industry, most batteries in EVs or PHEVs have shown that less than a couple % of battery storage is lost when fast charged all the time and we still see Taxi PHEVs that are running strong 10 years after being produced such as the hybrid Ford Escapes that are used as taxis in NY. Fast Charge Reduce Battery Life? https://carsofelectric.com/do-fast-chargers-shorten-electric-vehicle-battery-life/ Fast charging, also known as quick charging, can contribute to battery degradation1. This is because fast charging uses high voltage and current to charge the battery quickly, which generates heat that can cause damage to the battery’s cells and reduce its overall lifespan1. However, the impact of fast charging on battery life is not substantial2. The physics behind the technology means you shouldn't expect the battery to last longer than using a conventional "slow" charging brick2.

I loved the large concerts in my college days, and am not whining about it, but stating what i see as way too many people thinking these 80 year old prunes are worth your hard earned money when they cannot dance, sing or over all perform like they did 30 to 40 years ago. Perfect example is Queen, Awesome music and if they come to Seattle I would pay money to see Adam Lambert sing those songs. The music is great even still for the old band mates and same with Rolling Stones, Who, etc. Musicians tend to have a longer better life in playing the music than the singers do. Find a young man who can perform the way Mick Jagger did 30 to 40 years ago and have them sing the songs while the current band plays and I am there to rock out. Your right that Jazz and the Frank Sinatra types would not do well in a Cement style large multiple thousand stadium. Depending on what you put into your Home Theater, the experience can be every bit as good if not better than a Theater. Yes, screen size does matter, surround sound and add On's such as chair vibrators help to really send home the experience. Considering how dirty and smelly the theaters are, even the new ones that have leather chairs and serve food with adult beverages, I have not seen a reason to see any Movie anymore at a theater. But then most do not have a theater like I have, so as you say, the experience is very different from home to theater for most people.

This discussion reminds me of a cool movie from the 1981. Heavy Metal Heavy Metal (1981) - IMDb

You can enjoy the old prune of a performer which is your right and the freedom we enjoy; I also will enjoy my higher expectations of an enjoyable night. Rather have a dinner performance at a jazz club now or a small venue with an artist than in a large cement block with thousands of others in terrible acoustic presentations. Just my personal preference versus yours or Roberts or anyone else. Like others here, I would rather sit in the comfort of my home theater chair and watch my James Bond collection on my Theater system where I can pause the movie, hit the bathroom, get food I want of higher quality and relax than go to a public theater or performance hall. Guess as I have gotten older, I expect better quality of performance and experience than to try and live in my college days of loud concert venues.

Very cool to see how well GM is doing for third quarter highlights. PowerPoint Presentation (gm.com)

I love it when I can see Keiko Matsui in concert at Jazz Alley. She usually comes every two years for a week. Keiko Matsui Toshio Kadomatsu OFFICIAL SITE (toshiki-kadomatsu.jp) Fell in love with his jazz especially the Sea is a Lady Album. Married my wife who walked down the isle to June Bride in December. At 40:33 is June Bride, great song, Love this as enjoyable background music.

Personal choice as I would not spend the money to see them now, rather watch earlier recordings of them performing and listen to the songs when they were in their prime, but then I know I am an odd duck in comparison to those that go to the concerts. I also have moved to much smaller venues for enjoyment. Have not been to a major concert since my college days in Japan when I saw Depech Mode Music for the Masses concert that was awesome. Now I enjoy going to Jazz Alley in Seattle for a meal show. This is just a much more enjoyable experience IMHO. Dimitriou's Jazz Alley - Home