➡ The narrator is discussing the growing controversy around electric vehicles (EVs) in the U.S. While other countries have readily adopted EVs, the U.S. has been slower due to loyalty to traditional car brands, doubts about EV benefits, and infrastructure deficits. Despite observing the hurdles EVs face, including slower sales and dropping resale value, he personally found his experience owning EVs (a Tesla and a Porsche) to be positive and cost-effective, with no maintenance costs and convenient charging options. There are also innovations such as the first electric road in Detroit which allows EVs to charge while driving. His key question to readers: what is your opinion on EVs?
➡ The speaker discusses the emerging market and depreciation rates of electric vehicles (EVs), highlighting the volatility and unpredictability due to changes in policies and technology. They argue that despite price drops, the benefits of EVs, such as not replacing an engine, outweigh the cost. Additionally, tax credits help offset costs. Though, it’s noted that used car prices are dropping slower than EVs and hybrids are doing well in holding their value, fueling concerns that EV demand might be falling. However, the speaker believes that it’s too early to draw final conclusions and encourages individual experience before making judgements about EVs.
➡ The speaker is discussing their love for their current car, a Tesla, and how they’re considering other options. They believe a positive of electric vehicles is low gas and maintenance costs, but notes the insurance may be higher due to costly repair for electric cars. They personally love an all-electric Porsche but still think their Tesla is phenomenal.

There’s a lot of controversy that’s happening out here in these streets. Let’s talk about the money a little bit, y’all. It’s a lot of controversy, and I want to revisit this subject because a couple different reasons. Number one, the Tesla that I had got Rita, I’m about to turn that back in. And so we evaluating whether or not I got. Already got a bunch of cars. And she’d be stealing my bins, too.

That’s neither here nor there. We gonna go into that a little bit later, but about to turn into Tesla. And then here in Detroit, Michigan, I did an actual video on it the other day. Video on it the other day. And they are building the first. The very first so much innovation happened here in the United States of America. They’re building the very first electric road here in the United States of America.

Now, here’s the thing, right? It’s such a controversial subject when it used to be a novelty. Now it’s such a controversial subject here in the United States of America, right? And the reason that is, is because we are a stubborn people, whereas over in other countries, they are embracing electric vehicles, so much so to where the adoption of it is accelerated far beyond anything that they could ever have imagined.

Several different countries, some of the largest countries, are evolving to be EV only. And they understand the innovation that comes along with it as they continue to transition away from being dependent on foreign oil in order to sustain their economies or whatever it is that they got going on, right? But over here in the United States, we got lobbyists. We got people that love Fords. They love Chrysler’s.

They love Mopar. They’re a Chevy guy. They like tuners, right? And so we like what we like, and once we like something, it’s hard to get up off of it. And even myself, right? Like, I see the benefit of it, but I also see some of the downfalls and the pitfalls. And so I take a holistic approach, but I always like to experience it for myself before I make an informed decision.

But very few people have actually driven an EV, even though there’s modern and widespread adoption, as far as starting to have the infrastructure in place in order for us to then evolve over into it. And so the question that I want to ask you guys is, what is your opinion of it as I show the other side of it, as far as the problems or the languishing of EV models on dealership lots every single day? I have my opinion.

I’m going to reserve it. But what do you guys, think about electric vehicles. I know two of them. I got two of them. I got the Tesla, which I’m about to turn in, and then I got the Porsche. And those cars have been absolutely awesome. I mean, no gas, no maintenance, no oil changes, no spark plugs, none of that. Right? So I’m going to play this video really quickly, or I’m going to play parts of it, and then I’m going to give my opinion about EVs specifically because I do want to.

I’ve been in the auto industry 40 years and I’ve never seen this kind of investment. $6. 5 billion strictly dedicated to EVs. Wed Bush says spending on commercial EVs should top 1. 2 trillion between now and 2030. We’re building the future of the electric vehicle. In 2022, consumers spent nearly $400 billion on electric cars worldwide. The US is expected to add 1 million new EVs to its roads in 2023.

And from 2023 to 2027, automotive companies have committed $616,000,000,000 in total investments. Meanwhile, these. Somebody said, well, Anton, why are you turning it in? Because it was a lease. It was a three year lease. And so now it’s time to turn it in. And I got to figure out whether or not I want to get something else or if I want to get another EV. So that’s why I’m turning it in.

I’ll give you the details in a minute. Okay. Birds have hit an unnerving speed bump. EV sales are slowing. I was a little nervous about going all EV because my husband has an EV as well. And to have two EVs in the house, it’s challenging. I think the main issue is the long distance travel. We’ve been kind of in that situation. You do have to plan. Yes. In August 2023, it took about twice as long to sell an EV in the US as it did the previous January.

Gas burning vehicles were still selling briskly. While slightly more than half of consumers say EVs are the future and will eventually replace combustion engines. I want to switch over to a different video. I’m going to add a different video in here real quick, see if we could do this real quick. Used EV prices are falling. Buyers can get some great deals, but some say it is yet another sign that demand is faltering.

Low resale value could also be a major deterrent to EV purchases and EV adoption more broadly. Others say it is just a blip and fears of an EV slowdown are overblown. Studies show that used EV prices fell somewhere around 30% in September and October 2023. From the same period in 2022, used vehicle prices overall saw declines in the mid single digits for that time period. The mainstream appeal of these cars is still not there.

They’re still too expensive, and they’ve got too many limitations in terms of how you use them. People are broke. Interest rates are high. The demand for EVs is not the issue. It’s its affordability. Some research indicates what many EV supporters insist. EVs are cheaper to own than gasoline burning cars. You don’t have to shell out for gas, and maintenance costs are lower. And that’s a fact. That’s one of the things that I have learned throughout the process of owning an EV, and I’m going to read these super chats shortly.

I have learned is that it’s crazy, because when I walked into my building, a security guard downstairs, yes, we do have security guards in my building. The security guard downstairs at Anton, what do you think about your electric Porsche or whatever? Because I’m thinking about getting the EV. And he said, what’s going on with the maintenance? Like, how much do you have to pay in maintenance? And I told him, I said, I haven’t had to pay anything.

He said, what do you mean you ain’t have to get no changes in oil or nothing like that? I said, no, it ain’t no engine in it. I haven’t had an Oil Change, spark Plug or anything like that. When I turn it on, it’s Instant go. I go home, I Plug it up. If I want to plug it up here, I can Plug it up. Somebody said, what about the electric Bill? I don’t know.

I don’t live in a house. I live in a building. And so when I Plug up my Electric Car, they got Electric Chargers. When I plug up my Electric cars, they Just charge up an ABS, whatever you put the Threshold Is With Them because you can go inside of the happen. You can say, well, I only want it to charge up to 80%, 90% or whatever, so on and so forth.

So you can maintain the integrity of the battery Long After you have it. And so I charge it up and I get and go, and then I plug it back up when I get home for my Porsche, depending on the conditions of the driving, because usually I do city driving for the most part, and then I’ll jump on a little bit of the freeway in order to get here, for the most part, I put it in range mode, and I get over 300 miles on a charge.

So I never have charging Anxiety. I never have a problem. I drive Most of the Time over 35, 40 Minutes in Order to get to the CRib. So I don’t have the Same Problems. I’ve never stopped at A Gas station. Very rarely do I ever stop at a Gas station for any of my other Cars. So for me, it Just makes sense. And then here in DetroIt, we just Built and we test in the first electric Road.

So as you drive Down a Road, you’re still Charging. And so I think that one of the things and the benefits of it, or actually one of the drawbacks for it is infrastructure, because it’s a lack of education, number one, and that very few people actually understand the benefits of it because they’ve never driven it. And so they Just going Based off of OthEr People’s ExPerIence. And then the other Side of It is the REadIly Available Gas Stations.

That’s Everywhere versus EV Chargers. And so you have to Do A Little Bit More Planning if you decide to do A Road trip or go out of Town. So it Just goes from there. Brittany says that’s the Same as Gas. Let me see what Brittany said really quickly. Give me a second, Brittany, I’m going to read your chat. Brittany said that’s about the same as gas, so that’s not bad.

I have a bigger tank, so I get about 450 miles. Yeah, I mean, I’m in a Porsche, so I get about 300 miles on a charge, and they charge overnight. Somebody said the battery replacement cost is crazy. So is the cost of replacing an engine. Let me ask you all a question, because all of this is dumb logic, right? In my opinion, how many of you all have had to replace the engine in your car? None of you all, not one person inside of here, have had to actually replace the engine.

In a car. You might have to replace the battery when. Let me play a little bit more of this video. But a car’s residual or resale value is a big factor in determining the total cost of owning it. The volatility in the used EV market shows how much isn’t yet known about EVs, including how to predict what one will be worth in a few years. A single change to policy, battery technology, even a single manufacturer’s prices, can upset the whole market.

These price drops come at a time when many other data points suggest EV demand is stalling. New EVs are collecting dust on dealer lots. Tesla, which controls nearly two thirds of the EV market, has been aggressively cutting prices, and its third quarter deliveries fell short of investor expectations. Let me give you this general thought that I hear from everybody in this business, including people at Tesla, this is still new.

CNBC looked at data and talked to insiders to determine whether used EV prices are a sign of a larger slowdown in the EV market or a bad investment altogether. Gold lost 4. 8% in value from September 2022 to September 2023, but EVs specifically fell 29. 5%. Another showed that from October 22 to October 23, the average price for one to five year old used EVs dropped 33. 7%.

Well, then that throws out the argument of affordability, because, see, the thing about it is that one thing you can’t do is you can’t complain about cost, because one of the benefits of driving an EV, and I’m not pitching you on it, I’m just telling you what my experience is. And I’m in a unique position to be able to give you my insight based off of my experience, because I own two of them and I own gas cars, too.

Right? And so one of the things is that they have a $7,500 tax credit that basically offsets, because most gas cars is expensive as hell, too. So the average transaction price for a car is, I believe, over 50 something thousand dollars now, and you can get EVs for 40 something, and then when you take into consideration the tax credits, you down in the 30s. So on average, most people are paying $900,000 for a car.

Note, I think I paid like $18,000 for the lease of a three year Tesla or something like that for the car. And it wasn’t nothing like that. Right? You know what I’m saying? Something like that. 18, $19,000 for the lease of it or something like that. Because I just did a one payment lease and that was it. And then you got more options. It’s a lot different cars and all of this stuff.

So I don’t know. It’s an interesting dynamic. I’m just trying to understand the sentiment of people of what they’re afraid of and what they think is going to happen. Meanwhile, used car prices only fell 5. 1% in the same period. A third showed they had fallen about 32%. Somebody said, how much for a tire and battery replacement? I don’t know. I’ve never had to replace the tires and the batteries.

Percent. From September 22 to September 23, that study said the average EV price as of October 18 was $27,863, roughly the same as what it was in early 2021. Some research indicates EVs have the worst depreciation rates of any vehicle type. I’m going to answer your questions in the chat as big and value losers like luxury vehicles. Hybrids are doing extremely well in holding their value and EVs are doing extremely poor.

So what’s happening is that hybrids are starting to become more popular as people look for alternative to internal combustion engine cars. Let me answer some of your stuff. In a chat. Somebody said, does the car go slower? What do you mean? Battery replacement is at like ten K. The Tesla got 30,000 miles, 20 something thousand miles on it right now. I don’t even know something like that. Somebody said, does the car go slower? Does the car go slower as the car heat up? No, it drives like normal.

What are you all talking about? What are you talking about? Does the car go slower? No, it just drives like normal. I don’t know what you all talking about. It’s just a normal car. The only difference is that you don’t have the emissions, you don’t have to worry about gas. It’s just been regular. It’s just been a regular car. Somebody said, that ain’t no miles. Well, we drive multiple different cars.

So somebody said, if that thing’s burning your garage, you’re going to lose your house. Well, I think that if your car burn up in your garage, you’re probably going to lose your house too. So what’s the difference? I don’t know, man. Y’all some weird. Y’all weird to me. Why is that? Because when you buy a hybrid, what do you get? You get much higher fuel efficiency in a higher fuel priced world we live in and zero range anxiety.

That’s a powerful, desirable combination. The trouble is not limited to the used market. In January 2023, new car dealers had about 52 days worth of EVs and internal combustion cars. But internal combustion inventory held pretty steady between 52 days and 58 days throughout the year, while EV inventory soared to 111 days in early July, then settled at 97 days by October. These numbers have fueled concerns that demand for EVs is waning.

But not everyone agrees. There has been a fierce debate over what’s actually happening. There’s been this wave of what I would call pretty misleading headlines over the last few weeks. Like, you would think that EVs were dead and buried if you paid attention just to what the news headlines were. Scott case is CEO of Recurrent, which creates vehicle history reports specifically designed to measure EV battery life. It also publishes the Recurrent Price Index, which tracks used EV sales.

That index is among those showing prices have fallen dramatically. If you want, I think that it’s important for you all to experience it for yourself. Liking most things, I think that a lot of times you got to try it for yourself. One thing that I don’t do is I don’t go by somebody else’s experience when they say that they don’t like a specific restaurant, because then I go there and I’ll be like, oh, that was a vibe.

It was a good environment or whatever. And then you’d be like, so what was wrong with yours? Oh, the waitress had a bad attitude. And that’s the thing that I always have a problem with, is that everybody takes somebody else’s opinion in order to determine whether or not they going to try it for themselves. I think that if you don’t like it, then you don’t like it and that’s cool.

I think that eventually everybody is going to be driving one anyway because that’s just the way that is going. Even California is mandating that you can’t even buy a gas car after what, 2029, 2030 or something. And that’s going to be here like that. But I think that people should just go and test it out for themselves. Go and test it and drive it. You ain’t got to do a Tesla.

You can do a Volkswagen, you can do a Porsche, you can do an Audi. They got Audi’s, they got them. You can do a Ford, they got the do. It’s a ton of different automakers. You can do GM, they got them. Almost every single automaker is going to be offering a version of the ETH. Rita said her Tesla got 34,000 miles on it. That girl be driving. Hold on.

What the hell is going on right now? Let me see. Hello. Where you be going? What are you talking about? Why your cargo got so many miles on it? I’d be in these streets. What do you think about it? What do you think about the Tesla now that you done owned it and you about to get rid of it? I love it and I don’t want to get rid of it.

Why you don’t want to get rid of it? Because it’s the best car ever. Not having to go to the gas station, not having to do any of that. Just drive it and park it, plug it up when I need to. That’s it? Yeah, that’s kind of irritating me too. Why? Because you don’t want to look at no other options and you need to be open minded. There’s other cars that you can check out also.

I know I’m open to look at other electric cars now. Why do they only have to be electric? Why you can’t be open to everything. Well, because I’ve gotten spoiled with not having to do anything but drive and park. I’m trying to save the planet. Oh, yeah, right. I am. Shut up. You ain’t trying to save no planet. Hey, are you on a live stream? Yeah, I’m on a live stream.

I forgot to tell you that. Yes. Thanks. I didn’t say anything inappropriate. What could you have possibly said? Who knows? You just be talking. What don’t you like about it? Let’s go there. Um. I can’t think of anything that I don’t like about it, to be honest. Yeah, I can’t really think of anything that I don’t like. Nothing. Not one thing. I wish that the front was automatic, like the trunk.

Seriously, that’s the only thing that I could think about. I can’t think of nothing that I don’t like. This is, like, the perfect car. All right, what other cars do you want to look at? I don’t know. I’m just now starting to be open to look, so I haven’t done any research or anything aside from a Tesla. Anyways, bye. So her experience is different. I was trying to convince her.

I’m like, hey, you want to look at this? You want to look at that? Maybe you consider this or whatever, so on. And so she going to take whatever I get for, and she going to love it anyway. But I think she’s trying to steal my bins, though, and just ride that out. We’ll see what happens. But in her opinion, she’s just, like, obsessed with that car. She just, like, super obsessed with that car.

And I’m like, man, trying to get her to look at other stuff and think about other stuff, and she just acting extra and everything like that. I don’t know, man. It’s weird. So I don’t know. I think that you all should drive it for yourselF. You all should see it for yourself and make a determination for yourself as to whether or not you would like it or you would consider it and just try stuff out.

Don’t be so dead set on whatever it is that you used to compare and contrast your experiences with new things. You know what I’m saying? So somebody said, how does EVs handle extreme weather conditions? Like, regular? I don’t know. I haven’t seen any difference. We live here in Michigan. We get all four Seasons, so it’s no extreme anything. Like, it’s the same as everything else. So I don’t know.

Batteries can get wet. Good luck with the snow. Oh, my God. What are y’all talking about? We live. We got snow. We live in Michigan. Black beauty says, why not stick with what you like? Because y’all sitting here complaining about gas prices and maintenance and all of this other stuff anyway. No, I will tell you one thing, one drawback from it. I will. To give y’all one drawback.

I can think of something right now. See, she’s not familiar with it because she don’t handle the money. I think that the insurance is higher on them. I think that the insurance is higher on them. You all know my insurance is out of control anyway. But I think that the insurance may be higher on them because they are electric vehicles and because if you get into an accident, it costs more to repair.

So I think the insurance may be higher on them. So take that into consideration. But other than that, I can’t really think of anything that I don’t like about it. My personal favorite car of all of the cars that I have is the Porsche is the Takean. It’s an all electric Porsche. So other than that, though, I think that it’s a phenomenal car. .