[gonzo]

Holy dumpster fire

kArMa

[chassis]

Expected.


Reuters 2024-07-22T11:43:00-04:00

BERLIN (Reuters) - Luxury carmaker Porsche expects the transition to electric vehicles to take longer than it thought, it said on Monday, having previously said its aim was for 80% of sales to be all-electric by 2030.

It has now watered down that goal by tying it explicitly to customer demand and developments in the electromobility sector, saying in a statement only that it could now deliver on the 80% target if those factors warrant it.

"The transition to electric cars is taking longer than we thought five years ago," Porsche said in a statement.

"Our product strategy is set up such that we could deliver over 80% of our vehicles as all electric in 2030 - dependent on customer demand and the development of electromobility."

Executives at carmakers from Mercedes-Benz to Renault have warned in recent months that goals they set in recent years for fully electric sales in the next decade were too ambitious as customers remained reticent to make the switch away from gas-powered cars.

Porsche, struggling with low EV sales this year so far, highlighted the disparity in its three key markets in EV uptake, with demand far ahead in China, slower in Europe and spotty in the U.S.

"Our double strategy is more important than ever," Porsche said, referring to its continued development of both combustion engine and electrified cars.

(Reporting by Victoria Waldersee; Editing by Jan Harvey)

[gblansten]

A 33% drop in first half of the year sales in China is a huge adverse wind for Porsche.

[XutvJet]

New gen ICE Caymans and Boxsters here they come.

[FC4]

The regs will get walked back. Significantly.

[M5Rick]

May have put this on before but it needs to sink into EV buyers before signing on the dotted line.

[Equilibrandt]

It's all about how infantile the infrastructure is, and everyone waiting on the next quantum leap of battery technology.

This isn't some profound revelation, guys; especially since Porsche does not represent anyone other than the wealthiest 1% of car buyers. Pair that with the new hybrid 911 GTS beating out the previous Turbo S on the 'Ring, and we can see what Porsche is actually motivated to sell. Hint, it's not a EV/Taycan, and it fits their brand.

[G30M]

Originally Posted by XutvJet

New gen ICE Caymans and Boxsters here they come.

unfortunately they'll be PHEVs, that's the only way to get past the emissions regulation in the EU from 2030, up to 2035, then EV only unless they can produce "carbon neutral fuel" rubbish - like vegan steak

[G30M]

Originally Posted by FC4

The regs will get walked back. Significantly.

unlikely. Germany has no control over this. in fact Germany was blindsided by the EU who passed the regulations overnight without their consent.

[Car-Addicted]

Just to muddy the waters:
Car industry warns EU leaders against reversing 2035 combustion engine ban
(EurActiv, 27 Jun 2024) Car manufacturers, energy companies and environmental NGOs have issued an urgent warning against revoking the EU’s 2035 de facto ban on the sale of new petrol and diesel cars ahead of the meeting of EU leaders on Thursday and Friday (27-28 June).
Under EU law, new cars sold after 2035 are not allowed to emit CO2 emissions, which de facto bans the sale of new cars with an internal combustion engine, such as diesel or petrol cars.
The coalition said it was “very concerned by recent statements calling on the incoming European Commission to reverse the already agreed on CO2 standards for cars and vans,” referring to the lawmakers within the centre-right EPP, who have declared their ambition to revoke the ban, and to instead allow for more ‘technological openness’.
https://www.eceee.org/all-news/news/...on-engine-ban/

ESG is a disease inflicting management in most European companies and too may American companies. This is not only a case of restrictive regulations but also restrictive banking.

[Car-Addicted]

Europe’s Auto Sales Weakening While EV, CO2, China Problems Fester
Europe’s car buyers are retreating from the market, worried by high prices and a deteriorating financial background. As sales weaken, manufacturers, led by Volkswagen, may need to shut factories to maintain profitability.
European Commission President Ursula von der Leyen said after her reelection for a second five-year term Friday the target to end CO2 emitting new cars by 2035 remains. She did hint at the possibility of allowing some sales of ICE vehicles powered by so-called e-fuels after that date.
https://www.forbes.com/sites/neilwin...oblems-fester/

Until unemployed workers are taking action will there be no chance that sanity will return. It will take a dutch farmers approach to change anything.

[BlkGS]

BEVs were never the answer to any questions. If we really are concerned about carbon emissions (we aren't - our elites just want to appear that we are solving some great issue, not just making them more money).

Synthetic fuels. That's gonna be the endgame.

[BlkGS]

Originally Posted by G30M

unlikely. Germany has no control over this. in fact Germany was blindsided by the EU who passed the regulations overnight without their consent.

Germexit?

[G30M]

Originally Posted by BlkGS

Germexit?

but they still need to sell their cars to EU whether they are part of the EU or not

[NSX2M4]

Seems like a carefully curated story to try and offset the Chinese EV invasion and keep people addicted to fuel. We have seen this trend and yes, it’s a trend.
I’m all about protecting markets and the planet, but this is as transparent as BMW creating a Frankenstein M5 that has a gender identity crisis. It’s called marketing folks.

[Redd]

As with all inventions, total market dominance is never feasible. I see it in IT all the time. One minute The Next Big Thing is going to take over the world. 10 yrs later it will still be a co-existence story with the previous generations of tech. Virtualization, cloud, EV, etc it's all the same. I'm pretty sure Casio claimed they were gonna put Rolex out of business when they launched the first digital wristwatch. Any industry leader who doesn't understand this is naive to say the least.

[G30M]

meanwhile ... other people could be making EV Porsches

https://www.drivencarguide.co.nz/new...-track-weapon/

[Murf the Surf]

Originally Posted by Weather Man

Ford will reign in its electric vehicle ambitions in Europe and has acknowledged that its plan to go all-electric in the market by 2030 is no longer feasible. The carmaker says customer demand isn’t strong enough to justify only selling EVs.

Ford has blamed higher EV prices and the removal of government incentives as reasons for waning demand.

A plant in Valencia was to shift to only build EV models but will now build

multiple powertrains.

Ford in Oakville Ontario received billions in government grants/incentives to produce EV's and they just announced they will be building SuperDuty pick ups with gas and diesel engines. Government can try to mandate what companies manufacture but companies won't last long if consumers don't buy their products.

[Car-Addicted]

Things that make you go Hmmmm
China’s Abandoned EV Graveyard: Thousands Of Cars Rot In Huge Fields

Making a good point that this is a huge waste of valuable resources.
Interesting that the abandoned cars are registered?

[M5Rick]

Originally Posted by Car-Addicted

Things that make you go Hmmmm
China’s Abandoned EV Graveyard: Thousands Of Cars Rot In Huge Fields

Making a good point that this is a huge waste of valuable resources.
Interesting that the abandoned cars are registered?

A registered car should simply be attached to an owner to register a purchase before any gov't shells out any subsidies, even Andy Capp could work that one out.

[gblansten]

Originally Posted by Car-Addicted

Things that make you go Hmmmm
China’s Abandoned EV Graveyard: Thousands Of Cars Rot In Huge Fields

Making a good point that this is a huge waste of valuable resources.
Interesting that the abandoned cars are registered?

China has squandered many many billions on all kinds of things. The chickens are coming how to roost. I wouldn't think this is singularly an issue with EVs. There was an article over the weekend on 38 billion spent on the former Olympics infrastructure and now that is just rotting.

They have close to a trillion in local/regional government loans for dubious economic developments.

They have massive ghost cities.

There are leading right now on a national demographic implosion and likely have only ten years before they collapse economically.

[Car-Addicted]

Looks like a good chance that the damage is into the rocker panels and maybe the battery compartment. I wouldn't park it in your garage or it could make My EV burning EV posts.