RE:RE:RE:RE:Obe
Its not the number of new electric cars that get purchased.
Its the number of internal combustion engine vehicles that come off the road.
Wealthy people have choices, everyone else doesn't.
As discretionary spending declines from inflation and higher interest rates, so does the ability to make choices with what you drive.
Electric cars are expensive, and tend to appeal to the high tech types - those who have made easy money by buying tesla, google etc stock. Those people are in for a hard financial lession as they watch their 90X earnings companies fall back to reality. Don't be surprized to see electric car sales fall along with high tech share prices.
As for resessions, they are great for gas powered cars.............for those who loose their home, they live in their car. Homes go before the car does.
If we see a recession, expect less old cars to come off the road. EV sales will add to that.
EV's are not a poor persons means of transport. That role is held by Internal combustion vehicles. There far more poor people than weathy. Infact, the market share for the poor is a growth industry.
Businesses that serve the poor, have been doing very well for some time. Companies like payday loan firms for example - and used car dealerships as another!
EV substitution is a dream. EV addition is more like it.
Some people may not like oil - but I suspect they like nuclear reactors even less! If you think its hard to build a pipline in the US, try buidling a Nuclear reactor?
You can't run those EV's without nuclear reactors.
In British Columbia it will take 16 more Site C hydro dams to power BC vehicles if they all were electric. BC can't even build one Site C hydro dam. How many years and billions of dollars is that behind schedule.
No EV's are not going to make the sort of reduction in oil consumption needed to make up for the loss of Russian exports. Or even to make up for the oil coming out of the US strategic reserve when it runs dry!
If you can get OBE in the 8's, then good for you. You won't be the only one buying, and its hard to imagine many selling. Personally I like to add in the $9's, and we havn't had many of those chances.