Episode 13: The Quick Decline in EV Interest

Whiskey, Watches and Wheels

Summary:
The hosts introduce themselves and discuss Kevin's newly acquired Porsche SC. They also talk about Kevin's business and his scooter parts. The conversation then shifts to a discussion on progressive glasses. The hosts share their wristwatch check, featuring a Seiko 6139 chronograph, a G-Shock, a Seiko 6105-8110, and a custom Seiko quartz watch. They then delve into the topic of EV production, including a decrease in EV sales, consumer perception of EVs, and government influence on EV production. The challenges faced by EV manufacturers are also explored. The conversation explores various themes related to the sales cycle, manufacturing capabilities, economic impact, social media perception, declining interest, infrastructure challenges, historical comparisons, remote work, alternative fuels, financial challenges, and depreciation of EVs and luxury vehicles. In this conversation, the hosts discuss buying a used car and the value of money. They then transition to the topic of Amazon selling cars and the potential benefits and drawbacks. Finally, they explore the car buying process and the frustrations that can arise.

Takeaways

• The sales cycle for EVs is currently twice as long as for ICE vehicles.
• Manufacturers with both ICE and EV production capabilities have more flexibility to adjust production based on demand.
• The economic slowdown and interest rates impact EV sales.
• EV-only companies may face greater financial risks compared to companies with diversified engine production.
• Negative perceptions of EVs are prevalent on social media platforms.
• There has been a decline in interest in EVs among potential buyers.
• The limited charging infrastructure is a significant challenge for EV adoption.
• The adoption of EVs may follow a similar trajectory to historical technological shifts.
• Remote work may impact EV adoption as commuting patterns change.
• Alternative fuels, such as hydrogen, may play a role in the future of transportation.
• EV-only companies face financial challenges due to high manufacturing costs and limited market demand.
• The depreciation of new cars, including EVs and luxury vehicles, can be significant. Buying a used car can be a cost-effective option, especially for car enthusiasts who can find well-maintained vehicles at a lower price.
• Amazon's entry into the car sales market offers convenience and potentially lower prices, but there may be concerns about impulse purchases and the lack of in-person negotiation.
• The traditional car buying process can be frustrating, with negotiations and add-ons often increasing the final price. Online car buying platforms aim to streamline the process and provide transparency.
• Researching and comparing prices, both online and at dealerships, is crucial to ensure a fair deal when buying a car.