12 min
Used EV Pricing, Rivian’s Pricing Adjustments, A Waymo on Fire The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier
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- Business
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It’s Monday and now that the Superbowl is over, we can get back to the real game! Today we are talking about more shifting dynamics in both the new and used EV segments. We also talk about a rather fiery incident involving a Waymo vehicle in San Francisco.
At the NADA Show we heard all types of conversations around EVs as the volatility of the entire segment is real. Let’s talk about the used market first.With prices heavily influenced by fluctuations in new EV pricing, the used market has seen a sharp drop of around 30%. Despite a small market share, used EVs are becoming more accessible. Franchise dealerships sold around 180,000 used EVs in 2023, less than 1% of the market.Price adjustments in new EVs and government incentives are expected to further drive down used EV prices as well as the addition of affordable new EVs later this yearThe federal tax credit, under the Inflation Reduction Act, is offering up to $4,000 for EVs at least two model years old and under $25,000. With Hertz recent decision to liquidate one third of its EV fleet, a flood of eligible Tesla’s have flooded the market.Now on to the new side: Rivian has reduced prices on its R1T pickup and R1S crossover base models by $3,100, aligning with federal tax incentives and introducing a new battery option to stimulate sales.The price adjustment reflects the broader challenge of slower EV market growth, with Rivian aiming to make its vehicles more accessible amidst competitive pricing pressures.Rivian's introduction of a "standard-plus" battery option offers an additional 45 miles of range at previous prices, highlighting the company's response to consumer demand for greater value and range."Like every electric vehicle producer with a U.S. presence, Rivian has to reconcile past expectations with current market realities," notes Karl Braueran, Executive Analyst at iSeeCars.Apparently a crowd in San Francisco found a use for a Waymo, driverless EV as it was set ablaze by a crowd using fireworks in San Francisco's Chinatown during Lunar New Year celebrations.The incident involved some smashing windows, with the car eventually engulfed in flames as someone threw a firework into the stopped vehicleWaymo reported no injuries as the car was not carrying passengers at the time, and the company is collaborating with local authorities to address the situation."This was a one-off event," stated a Waymo spokesperson, amidst concerns over increasing public hostility towards driverless cars, highlighted by recent accidents involving autonomous vehicles.Hosts: Paul J Daly and Kyle Mountsier
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JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
Shoot us a Text.
It’s Monday and now that the Superbowl is over, we can get back to the real game! Today we are talking about more shifting dynamics in both the new and used EV segments. We also talk about a rather fiery incident involving a Waymo vehicle in San Francisco.
At the NADA Show we heard all types of conversations around EVs as the volatility of the entire segment is real. Let’s talk about the used market first.With prices heavily influenced by fluctuations in new EV pricing, the used market has seen a sharp drop of around 30%. Despite a small market share, used EVs are becoming more accessible. Franchise dealerships sold around 180,000 used EVs in 2023, less than 1% of the market.Price adjustments in new EVs and government incentives are expected to further drive down used EV prices as well as the addition of affordable new EVs later this yearThe federal tax credit, under the Inflation Reduction Act, is offering up to $4,000 for EVs at least two model years old and under $25,000. With Hertz recent decision to liquidate one third of its EV fleet, a flood of eligible Tesla’s have flooded the market.Now on to the new side: Rivian has reduced prices on its R1T pickup and R1S crossover base models by $3,100, aligning with federal tax incentives and introducing a new battery option to stimulate sales.The price adjustment reflects the broader challenge of slower EV market growth, with Rivian aiming to make its vehicles more accessible amidst competitive pricing pressures.Rivian's introduction of a "standard-plus" battery option offers an additional 45 miles of range at previous prices, highlighting the company's response to consumer demand for greater value and range."Like every electric vehicle producer with a U.S. presence, Rivian has to reconcile past expectations with current market realities," notes Karl Braueran, Executive Analyst at iSeeCars.Apparently a crowd in San Francisco found a use for a Waymo, driverless EV as it was set ablaze by a crowd using fireworks in San Francisco's Chinatown during Lunar New Year celebrations.The incident involved some smashing windows, with the car eventually engulfed in flames as someone threw a firework into the stopped vehicleWaymo reported no injuries as the car was not carrying passengers at the time, and the company is collaborating with local authorities to address the situation."This was a one-off event," stated a Waymo spokesperson, amidst concerns over increasing public hostility towards driverless cars, highlighted by recent accidents involving autonomous vehicles.Hosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/
JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
12 min