{"id":59435,"date":"2024-06-04T09:57:03","date_gmt":"2024-06-03T23:57:03","guid":{"rendered":"https:\/\/www.vibewire.com.au\/?p=59435"},"modified":"2024-06-04T10:38:17","modified_gmt":"2024-06-04T00:38:17","slug":"picture-proves-ev-market-is-in-trouble","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=59435","title":{"rendered":"Picture proves EV market is in trouble"},"content":{"rendered":"\n

A picture of a parking lot full of unsold Teslas has shone a light on the electric vehicles market, which isn\u2019t as robust as manufacturers would like to believe.<\/p>\n\n\n\n

Around 2000 Teslas arrive at Port Melbourne every month but there\u2019s no buyers to take them home.<\/p>\n\n\n\n

Peter Anderson, of the Victorian Transport Association, told 7News: \u201cAll of a sudden we\u2019ve got a huge backlog of Teslas that aren\u2019t moving.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

A parking lot in Port Melbourne full of unsold Teslas. (7News)<\/p>\n\n\n\n

\u201cTeslas usually come into this country pre-sold. These ones aren\u2019t, they\u2019re sitting here waiting for buyers.\u201d<\/p>\n\n\n\n

Tesla sales tanked 44 per cent in April despite recent price cuts in a bid to compete with a growing Chinese EV market.<\/p>\n\n\n\n

A brand new Tesla Model Y is now $11,400 cheaper and they aren\u2019t the only ones cutting prices.<\/p>\n\n\n\n

The Peugeot e2008 has been given a massive cut from $63,000 to $39,990. On the lower end of the market, a GWM Ora is down 20 per cent to $35,990.<\/p>\n\n\n\n

Overall EV car sales dipped five per cent in April after booming year on year growth for the past three years.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Thousands of unsold cars in a parking lot in Port Melbourne.<\/p>\n\n\n\n

Car experts say the industry is struggling to expand beyond the early adopter phase, blaming bad charging infrastructure and poor resale figures.<\/p>\n\n\n\n

Speaking on Sky News car expert Caleb Bond said: \u201cThe market has really softened, people are not buying them in the same numbers they were because they\u2019ve worked out it\u2019s all a bit of a sham.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

One reason why sales may be suffering is poor resale value. (Photo by JUSTIN SULLIVAN \/ GETTY IMAGES NORTH AMERICA \/ Getty Images via AFP)<\/p>\n\n\n\n

\u201cAnd one of the great shams is that there is no resale value in these things.<\/p>\n\n\n\n

\u201cThere\u2019s two reasons for this. One is that the price of new electric vehicles keeps going through the floor again because they can\u2019t sell them.<\/p>\n\n\n\n

\u201cNow the manufacturers are reducing their prices on the shop floor significantly.\u201d<\/p>\n\n\n\n

Bond continued that because technology also improved every year old electric cars were depreciating quickly.<\/p>\n\n\n\n

\u201cIt\u2019s no surprise people aren\u2019t buying them,\u201d he added.<\/p>\n\n\n\n

News Corpration<\/p>\n","protected":false},"excerpt":{"rendered":"

A parking lot full of unsold Tesla cars has confirmed what many people have been thinking for a while.<\/p>\n","protected":false},"author":21,"featured_media":59436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[273,8307,9994],"tags":[993,7],"class_list":["post-59435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia","category-electric-cars","category-tesla","tag-melbourne","tag-transport"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t