Cheap EV's from China coming to USA within a year

[MalO]

Chinese Auto Executive: 'Bloodbath' Coming for American Auto Industry

CEO of XPeng Motors predicts a "bloodbath" against America's auto industry with the help of cheap China-made electric vehicles.

www.breitbart.com

“We’re going to put a 100 percent tariff on every single car that comes across the line and you’re not going to be able to sell those cars if I get elected,” Trump said. “Now if I don’t get elected, it’s going to be a bloodbath for the whole, that’s going to be the least of it, it’s going to be a bloodbath for the country, that’s going to be the least of it.”

China seeks to deliver a “brutal knockout round” against its Western competitors, including the U.S., in the global EV market, Xiaopeng said.

“XPeng has engaged in this cutthroat competition right from the outset, thus accumulating considerable experience. Our guts, grit and perseverance, I firmly believe, will lead us to victory.” [Emphasis added]

I actually disagree with Trump on this. I say throw open the door and let all the cheap cars from all the foreign countries be sold inside the USA.

If our auto companies won't lower prices to a point that working class Americans can afford them, then I hope our auto companies all go bankrupt. Fuck Ford, Chevy, Chrysler, and Tesla. I hope they all go bankrupt.

If they don't want to go bankrupt, bring a $10,000 new car to the market. I've made threads about this in the past.

Fuck protectionism. Fuck greedy corporate overlords. Fuck rigging our economy and the ever-inflating bubbles that keep everyone poor.

 

[MalO]

I've seen so many articles like this it makes my blood boil.

‘Few options that are cheap’: why are there no affordable cars in the US?

The average transaction price for a new vehicle is $47,713 – a third more than what Americans paid five years ago

www.theguardian.com

According to the latest data from the car consumer guide Edmunds, the average transaction price for a new vehicle was $47,713; that’s a third more than what Americans paid five years ago. “We’ve come to this where you look out there in the field, and there are so few options that are even cheap,” says Jessica Caldwell, Edmunds executive director who analyzes the habits and transactions of car consumers. “Just talking with my team in the genesis of our research, I was like, ‘Can you even buy anything new for $20,000?’”

At the New York show, on the Jacob Javits Center floor, the pickings were sprawled out, slim and largely confined to the subcompact class. The Corolla, Toyota’s entry-level four door, can still be had at that price – as can the rival Honda Civic. A fully loaded Kia Rio rings in at around $20,000; $5,000 more buys a four-wheel drive Subaru Impreza. Throw in the plucky Nissan Versa and the market has essentially belonged to the Asian automakers since the big three scrapped small sedan production three years ago to focus on higher-returning SUVs and trucks.

“And people were only buying those small cars because they offered a ton of rebates and discounts on the hood to make them cheaper than the imports,” says Tom McParland, a veteran car buying consultant. “They were losing money on every unit they sold.”

Where Did All the Cheap Cars Go? | Edmunds

We wondered where all the affordable new cars went, and it turns out a shrinking pool of affordable new vehicles is forcing many consumers into the used market.

www.edmunds.com

Affordability is a growing issue for everyday Americans trying to buy new vehicles. According to Edmunds data, the average transaction price (ATP) for a new vehicle was $47,713 in March 2023.
The new market didn’t always look this way — five years ago, the average new vehicle transaction price was $35,794, which translates to 33% growth in just five years. And there were more options available to consumers at lower price points. In fact, when gas prices spiked in 2008, Detroit automakers scrambled to make smaller, more fuel-efficient vehicles after being criticized for losing touch with what Americans needed. But consumer preferences didn’t take too long to shift back in the other direction.
Over the last decade, low interest rates combined with longer loan terms allowed Americans to embrace the "bigger is better" mentality and buy larger, more richly equipped trucks and SUVs that dominate the roads and driveways across the country today as small vehicles are going extinct. But now that interest rates have shot up, and without many new vehicle options left on the lower end of the price spectrum, buying a new vehicle will likely be out of reach for many consumers. In fact, it’s shocking how few vehicles are purchased at “affordable” prices.

The disappearance of the $20,000 new vehicle​

According to Edmunds transaction data from March 2023 compared to March 2018:

• 0.3% of new vehicles sold were $20,000 or under, compared to 8% five years ago.
• Just 4% of new vehicles sold were $25,000 or under, compared to 24% five years ago.
• 17% of new vehicles sold were under $30,000 compared to 44% five years ago.

The rise of the $60,000 new vehicle​

For the past decade, automakers have been responding to consumer preferences and market demands, which meant that larger vehicle sizes, more features, and flashier technology and prices have increased accordingly. Edmunds transaction data from March 2023 compared to March 2018 reveals:

• 17% of vehicles sold were $60,000-plus compared to 6% five years ago.
• 10% of vehicles sold were $70,000-plus compared to 3% five years ago.