AD #3430 – Hyundai Reveals New Grandeur Sedan; Tesla #1 In BEV Sales in Germany; Car Inventory Piling Up in China

October 19th, 2022 at 11:49am

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Listen to “AD #3430 – Hyundai Reveals New Grandeur Sedan; Tesla #1 In BEV Sales in Germany; Car Inventory Piling Up in China” on Spreaker.

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Runtime: 9:59

0:08 Tesla Tops VW In BEV Sales in Germany
0:54 South Korea Lobbies Hard Against Inflation Reduction Act 
1:58 Lincoln Dealers Must Pay Steep Price to Sell EVs
3:36 Hyundai Reveals New Grandeur Sedan
4:45 Car Dealer Inventory Piling Up in China
5:34 Renault CEO Says EV Cost Parity with ICE Vehicles Way Off
7:21 China Made Vehicles Rocket Up Australian Sales Charts
8:10 Fisker Shows Off Rotating Infotainment Screen

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14 Comments to “AD #3430 – Hyundai Reveals New Grandeur Sedan; Tesla #1 In BEV Sales in Germany; Car Inventory Piling Up in China”

  1. Lambo2015 Says:

    I could see dealerships needing to spend 200-500k to prepare for BEVs with training, some charging stations and some new equipment specific to BEVs like the lifts required to remove a battery. But I think 1.2M seems a bit much. At that rate I too could see many dealerships throwing in the towel.

    This is going to be great for companies like Carvana and Car Max. Unless those dealerships decide to just stay in the used car market which is where the money is anyway.

  2. ChuckGrenci Says:

    I think that the legislation for giving credits for EV’s be doled out recognizing all trade agreements that are already in place. But I also have a problem with credits in the first place. I don’t see how the ‘Inflation Production Act’ (no, not a typo) can supersede already in place agreements.

  3. GM Veteran Says:

    1 – I think you are right. Even the lower volume tier Lincoln dealers must agree to invest $500,000 to be certified to sell EVs. That is the top investment amount Cadillac is mandating for their biggest dealers. I don’t know how Lincoln can justify their numbers, but seeing as Lincoln sells roughly 2 vehicles for every 3 Cadillac does, it will be difficult for any Lincoln dealer to make the math work as a sensible investment.

  4. GM Veteran Says:

    Sean, I read the linked Reuters article on China sales and something seems to be missing. They have definitely sold way more than 1 million vehicles in China so far this year. They sell more than that every month. OEMs have certainly shipped many more than 1 million vehicles to dealers so far this year. Even if the article is only talking about Chinese manufacturers, it seems really low. Maybe they are talking about only EVs?

  5. Kit Gerhart Says:

    Maybe Ford just wants fewer Lincoln dealers, so the remaining ones might have higher volume. The Ford-Lincoln dealer where I am in Indiana dropped Lincoln years ago, maybe because they didn’t want to service Murcurs or LSs. I don’t remember the timing.

  6. Lex Says:

    Ford trying to price out dealerships by requiring huge investments in EV technology, training and charging stations will cause Ford and Lincoln dealerships to up ship right into the waiting arms of the Chinese OEM’s.

  7. GM Veteran Says:

    In my opinion, Cadillac and Lincoln are making a mistake taking such a hard line with their dealers. Cadillac ended up losing twice as many dealers as they anticipated. Most of them were small dealers in rural areas. But, that includes many popular tourist destinations. Visitors and folks traveling through that need service on their vehicle are now out of luck. Their larger dealer bodies were one of the advantages those brands had over Lexus, Infiniti, Acura, BMW, M-B, etc.

  8. Lambo2015 Says:

    I really have to wonder if most CEO’s are really that disconnected from reality or is Renault CEO, Luca de Meo just that smart? Did no one think that raw material costs would go up with increased demand? All these stories we been fed of battery prices dropping, assumed a reduction in price because of scale, but also assumed raw materials would stay the same. Everyday it seems any advantage provided by scale is offset by material cost. EV’s will struggle for a long time to undercut ICE’s.. My auto insight: when they realize they cant they’ll raise the price of ICEs until they can. Already started.

  9. Kit Gerhart Says:

    7 There are still, and will continue to be Cadillac and Lincoln dealers closer to my Florida home than the those of European and Asian “premium” brands.

    I like having dealers nearby for convenience, both in buying, and especially for warranty work and recalls, if needed. Still, I have bought a number of cars over the years without local dealers, including VW, MINI, and Porsche.

    Sean, could you give us a list of number of US dealers by car brand? I’ve tried to find such a list by googling, but without much luck, except for the top ten. There are no “luxury” brands in the top ten. Polaris Ace, whatever that is, is #10.

  10. Sean Wagner Says:

    8 Lambo2015 – The professionals over at Benchmark Minerals who analyse and forecast mining relevant to EV battery supplies have been saying for a while that “a new mine” needs at least 7 years (!) to get up to full speed.

  11. Lambo2015 Says:

    10 I wont pretend to know anything about mining but 7 years seems like an awful long time to dig a hole in the ground. I would assume there is surveys that need done, and maybe core samples drilled. Permits approved and equipment purchased.
    But considering how much water it takes to mine for Lithium I would guess there are legal battles to overcome along the way. Maybe if our government spend as much money fast tracking chip production and mining as they have lost sending money to Ukraine these things would be solved.

  12. Bob Wilson Says:

    For COVID outbreaks, China shutdown parts of Tesla Shanghai factory and suppliers. Did BYD have COVID shutdowns?

    Regardless, Tesla reports operational margin (I.e. profits) of over 16%. How are everyone else including BYD profits?

    Tesla has about 350 Supercharger places with 8-16 stations each. If we round the cost up from $900,000 to $1 million, that would be $350 million dollars. In contrast the existing manufacturers ‘assumed’ someone else would magically make EV charging stations … they did and per JD Powers got unreliable poor performing charging stations for the non-Tesla EV owners.

  13. Kit Gerhart Says:

    12. Yep, Tesla remains, by far, the best for those who use EVs for highway trips, and EV commuters not having home charging. For those who do all, or nearly all of their chgarging at home, there are now a number of good EV options.

  14. Warwick Dundas Says:

    LDV is an abbreviation of Leyland DAF Vehicles. It was a merger of the old Dutch DAF vehicle manufacturer and the van business remnant of the once mighty Leyland. The remnants were eventually sold to Chinese interests. The Chinese vans and utes are privately imported and are selling well.