Post by
Obscure1 on May 02, 2023 11:17pm
Nothing to see here Part 8
Today's automotive headlines that SU investors don't have to worry about because ICE vehicles will live on forever. There is nothing to see here for SU shareholders who will continue to receive endless dividends and share price growth
A) Amid intensifying global EV competition, Toyota’s new management team also said the world’s largest automaker aims to roll out 10 new battery EV models by 2026 and ramp up sales to 1.5 million that year, compared with about 24,000 worldwide last year.
No worries as Toyota still pland to continue making hybrids while developing hydrogen cars and other FCVs(Fuel Cell Vehicles).
B) Ford plans to cut one in nine jobs in Europe, axing 3,800 roles in product development and administration
Ford has eliminated a number of ICE models in Europe its market share continues to plummet in the EU and UK. Ford plans to have VW (which loses money on every EV) make EV's for Europe. The bottom line is that Ford is focussing on the truck market in the USA as it's ICE sales outside of the USA have cratered. No worries until someone comes along with a CyberTruck that will blow away the Ford Lightning on vitrually every metric and likely sell for a much lower price.
Off the top of my head, the first 7 Parts are listed below
Part 1: GM recently offered 58,000 white collar ICE staff in the USA retirement package
Part 2: Stellantis recently offered 33,500 ICE workers a retirement package
Part 3: Ford has separated into 3 divisions and is focusing all of its efforts on its EV platform with the unspoken message that the ICE division will soon go bankrupt
Parr 4: Legislation created in 2016 in China will make it virtually impossible to sell ICE vehicles starting July 1, 2023 which has resulted in 4 million unsellable ICE vehicle sitting on lots which will be blown out at auctions in the coming weeks
Part 5: The US EPA recently recommended tail pipe emission changes that mean that ICE vehicle makers will have to make big changes and improvements to be able to sell cars in 3 years (which isn't going to happen)
Part 6: Lots of videos are appearing of US car lots with seemingly endless high priced trucks from GM and Ford and Stellantis for sale that are not moving (which means that the reported sales numbers for those companies are meaningless as they record sales that are shipped to their dealerships but the vehicles have not actually been sold)
Part 7: The "expensive" but safer EV's are now cheaper than ICE vehilces which are much cheaper to run and recieve the IRA tax credit
Suncor remains focused on capturing a larger share of the tarsands by buying out fleeing competitors at deep discounts to the original costs of developing the projects. Of course, Suncor can use its 4 refineries (which there is no market for) to create gasoline forever for its 1500 gas stations (which there is no market for).
How can Teck and Total be so stupid to sell at massive discounts to their costs?
How can the institutions that have been and will continue to dump Suncor shares be so stupid?
Why didn't 7-11 or Couche Tard or Crescent Point pick up PetroCanada's properties?
Suncor's brilliant management team will show them all. Mark your words!
Comment by
barneyj44 on May 03, 2023 12:10am
Mmm Toyota ramping up to 1.5 million EV's by 2026. Considering theres 1.2 billion combustion engines currently on the road it's looking like Oil isn't going away anytime soon.
Comment by
Kman86 on May 03, 2023 8:06am
Considering the fact that ICE vehicles represent a very minuscule % of oil usage on an overall basis.....this is just narrow minded