Is Electrification Killing the Auto Industry?
Patrick Boyle On Finance
Patrick Boyle
4.9 • 308 Ratings
🗓️ 8 January 2025
⏱️ 26 minutes
🧾️ Download transcript
Summary
For years, the auto industry has been hyping the transition to electric vehicles with optimistic sales forecasts for electric models and huge growth projections. Investors pumped up valuations for automakers, based on their visions for an electric future. Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen and Jaguar are scaling back or delaying their electric vehicle plans. Tesla’s annual vehicle deliveries declined for the first time in more than a decade during a period when overall car sales are up. Have automakers overinvested in EVs and are EVs killing the car industry? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Further Reading: How Trump policies could reshape the EV industry: https://observer.com/2024/12/trump-ev-policy-tesla/ Norway EV subsidies: https://www.instituteforenergyresearch.org/renewable/the-hypocrisy-of-the-electric-vehicle-movement/ Tesla Deliveries drop: https://www.ft.com/content/f13d799c-a4dc-4619-b876-6ec68b502fec Automakers struggling: https://www.nytimes.com/2024/12/15/business/automakers-trouble.html Northvolt Bankruptcy: https://www.ft.com/content/09938004-21b9-4750-8fa2-9ed15c566d4e The Winners & Losers in Auto Sales: https://www.caranddriver.com/news/g63335108/auto-sales-q4-2024-winners-losers/ Why Norway is Having Second Thoughts about EVs: https://www.vox.com/future-perfect/23939076/norway-electric-vehicle-cars-evs-tesla-oslo
Transcript
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| 0:50.0 | US consumers bought just under 16 million new cars in 2024, which is 2.2% more than the prior year and the new sales record since the pandemic. |
| 1:02.0 | Most automakers did well as they adjusted to slowing demand for EVs and focused on their core business in the United States of gasoline-powered trucks and SUVs. |
| 1:13.6 | The American car market continues to be dominated by larger and heavier cars, where demand for |
| 1:19.6 | SUVs has grown hugely over the last 50 years. Brands like Toyota and Ford benefited from |
| 1:26.6 | growing demand for hybrids in recent years. |
| 1:30.3 | Mazda saw the biggest gains with sales up at nearly 17% in the United States, where they sold |
| 1:37.4 | more cars in 2024 than ever before. Other top performers were Honda and Mercedes-Benz. The best-selling vehicle in the United |
| 1:47.0 | States was once again the Ford F-Series truck, followed by the Chevy Silverado and then the |
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