Porsche Taycan’s Values Plunge; Mercedes, Stellantis Pause EV Battery Factory On Sliding Demand
Troubling news for the electric vehicle market emerged from Europe on Tuesday. The first was the collapse of Porsche Taycan prices, and second, a battery plant owned by Stellantis and Mercedes-Benz halted development. All of this signifies sliding EV demand across the EU.
Let’s begin with a new Bloomberg Intelligence report titled “Taycan’s 33% Value Drop Makes Even Tesla Owners Cringe,” highlighting that the high-end luxury EV market is experiencing “significant declines in value as demand decreases.”
The report, citing Experian data, found Porsche Taycan values in the first quarter sank 33% compared to the same period one year ago. This was an even more significant drop than the Tesla Model Y’s 28%.
Sliding EV demand has also forced European auto battery manufacturer ACC, co-owned by Stellantis, Mercedes, and TotalEnergies, “to pause development of a site in Germany’s Kaiserslautern,” according to Bloomberg, citing local media outlet Rheinpfalz newspaper.
“Europe’s drivers aren’t ready in large numbers to exchange their old car for a new electric one,” ACC’s General Secretary Mathieu Hubert told Rheinpfalz.
Hubert pointed out that before more investments are completed, “We need to be sure what battery cell technology the market requires.”
Across the Atlantic, Tesla recently reported an 8.5% drop in year-over-year vehicle sales in the first quarter. Sales growth across the EV space has slowed, and Tesla is locked in a price war with manufacturers worldwide.
Following Tesla’s earnings release in April, Deepwater Asset Management analyst Gene Munster wrote on X, “The excitement around EVs has cooled, which further dampens sales.”
Ugly March delivery number for $TSLA, down 8.6% YoY, vs. consensus of up 2%. I believe the reason is a combo of high interest rates impacting EV’s that tend to be 10% more expensive than the average gas vehicle. Also, the excitement around EV’s has cooled, which further dampens…
— Gene Munster (@munster_gene) April 2, 2024
A combination of higher interest rates, lack of robust positive real wage growth, and consumer slowdown amid stagflationary threats is weighing on demand for vehicles, especially EVs.
Tyler Durden Wed, 06/05/2024 – 06:55
Source: https://freedombunker.com/2024/06/05/porsche-taycans-values-plunge-mercedes-stellantis-pause-ev-battery-factory-on-sliding-demand/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.
![Report abuse](/img/report_abuse.png)