The EV market is the part of the car industry that sells electric vehicles, which are cars that run on electricity instead of gasoline. This market is growing as more people want eco-friendly options.
The Tesla Model Y is a type of electric car that looks like a small SUV. It's popular because it has a lot of space inside and can drive a long way without needing to be charged often.
A monthly payment is the amount of money you pay every month when you buy or lease a car. It helps you spread the cost over time instead of paying it all at once.
Corporate average fuel economy is a rule that requires car manufacturers to make their vehicles more fuel-efficient. It means that the average gas mileage of all the cars they sell must meet a certain standard, which helps save fuel and reduce costs for drivers.
0% APR means you can borrow money to buy a car without having to pay any interest. This makes it cheaper because you only pay back what you borrowed, not extra fees.
The North American charging standard is a type of plug used for charging electric cars in North America. It helps different electric cars use the same charging stations.
Tesla superchargers are special charging stations that let Tesla cars charge very quickly. They're placed along highways so people can travel long distances without running out of power.
The Mercury Monterey was a big family van that could carry a lot of people and their stuff. It's not made anymore, but it's mentioned because of plans for new electric cars.
Car
Škoda Epic
The Škoda Epic is a small SUV made by Škoda, a brand that is part of the Volkswagen group.
Car
Volkswagen ID1
The ID1 is a new electric car from Volkswagen that will be available in 2027, and it's designed to be smaller than their other electric models.
Car
Volkswagen T-Roc
The T-Roc is a small SUV from Volkswagen that is known for its stylish look and practicality.
The Porsche Cayenne is a fancy SUV that is known for being fast and stylish. Now, they are making an electric version, which means it will run on batteries instead of gasoline.
Air suspension is a type of car suspension that uses air instead of metal springs. It can make the ride smoother and allows the car to be raised or lowered.
Braked towing capacity is how much weight a car can pull when the trailer has its own brakes. It's important to know this if you want to tow something heavy, like a boat or a camper.
The Neuerklasse is a new design framework from BMW for their electric cars. It helps make these vehicles better in terms of performance and efficiency.
The Volkswagen ID.4 is an electric SUV that is designed to be roomy and practical. It's one of Volkswagen's first electric cars and is made for people who want to drive green.
The Tesla Model 3 is a small electric car that is very popular because it can go far on a single charge and has lots of cool tech features. It's a great option for people who want to drive an electric vehicle.
The Kia EV3 is a new electric car that Kia is planning to make. It's meant to be affordable and is part of Kia's effort to offer more electric options.
The Polestar 2 is a fancy electric car made by Volvo's sporty brand. It's designed to look good and have high-tech features while being environmentally friendly.
The Renault ZOE is a small electric car that is easy to drive around the city. It's a good choice for people who want an affordable electric vehicle.
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Welcome back to the podcast today.
Tesla's European decline, US rolls back economy targets,
and Germany nears 2 million EVs.
Plus stay tuned.
Later in the show, I'll tell you why paper mile charges
would still make EVs cheaper than combustion.
On EV News China today, check it out in your feed.
We do it weekdays and we take a look what's happening
in the world's biggest EV market.
And we decode what's happening in the east for the rest of us.
And it's hopefully going down pretty well.
People seem to like EV News China as a spin-off show,
not putting all the China news in this main podcast.
But also it's interesting how every so often you see people,
sometimes pretty senior in the automotive ecosystem,
saying, whoa, did you know what's happening in China?
These are the cars and these are the prices.
And you and I go, yeah, yeah, yeah.
We've known about that for a while.
So hopefully if you have an interest in EVs,
you should have at least a passing interest
in what's happening in China.
And that's what a spin-off show is all about.
Let's get into it.
Tesla's European EV lead is eroding.
Tesla's grip on Europe's EV market loosened again in November
with registrations dropping sharply in several key countries
while China's BYD logged record gains.
Tesla's recent surge in France went into reverse.
In November, the carmaker suffered one of its sharpest
monthly setbacks in Europe.
Industry figures from French automaker group PFA
show new car registrations slipped in November
by just 0.3% from a year earlier.
A mild decline overall.
Tesla, though, was the outlier.
Its registrations in France fell 58% to just 1,591 vehicles.
This drop is not just a bad month.
Since the start of this year,
Tesla's sales in France have fallen by 33%,
while the broader French EV market is flat,
even up in many cases of some carmakers.
Tesla is losing ground in terms of market share
and the country's mix of vehicles is changing.
France is one of Europe's most subsidy-sensitive markets
for EVs.
Changes in purchase incentives,
local production rules and pricing
can quickly reshuffle which brands look attractive to buyers.
A monthly slide of 58% hints at several pressures
at once, tougher competition from European EV makers
and, in some cases, plug-in hybrids,
more hesitant consumers in France,
and a weak lift from Tesla's earlier price cuts.
Tesla's growth in Spain also lost momentum
just as their EV market starts to mature
and you could say catch up to some other European countries.
New registration data from the Group ANFAC
show that Tesla registered, again,
just 1,523 vehicles in Spain in November,
down 9% from the same month last year.
It delivered fewer cars,
even as Spaniards opted for more EVs.
Over the first 11 months of the year,
Tesla has managed growth in France, though.
Registrations between January and November
were up 5% compared to the same 11 months in 2024.
Volumes are higher,
but as a market share, it's going down.
As I say, the EV market is rising in Spain
across the same period.
The ANFAC reports that total sales of EVs in Spain,
that does cover both BEVs and plug-in hybrids,
actually doubled compared to last year.
For a little while, Spain's been,
if not a laggard, if that's too harsher word,
certainly a little behind some other European countries,
but definitely now catching up
and you'd expect Tesla to be
certainly in line with the market,
if not leading the way.
Tesla have good vehicles to sell.
For some reason, Spaniards don't want them.
Sales dropped 60% in Sweden
compared to the same time last year,
and 49% in Denmark.
The Netherlands was down 44%.
Portugal slid 47% in November
compared to the same month last year.
So what's happening?
Well, certainly there's factors at play.
There are pockets of strength.
I told you on the podcast this week,
Norway did really well.
In fact, Tesla, for some reason,
and I've not fully dug into it,
but there could be some local market things at play,
Tesla registrations tripled in Norway.
6,215 cars.
That's an annual record with a month still to go.
Oh, Italy was up as well for Tesla,
although not by much.
On a broader view, Tesla's market share across Europe
is down from January to October,
and that marks the reversal for the brand
whose model Y used to be Europe's most popular vehicle.
Analysts point out fierce competition
from Chinese makers is having a big effect.
And also, many analysts point to
what is an aging Tesla lineup,
but I don't fully buy into that argument.
And I might be wrong, by the way,
but I think if you go and drive the new Model Y,
and ensure it's the same Model Y
that's been out a long time,
but it's a significant refresh
and a much better vehicle than it used to be.
And I think Tesla had done a very good job
of updating their vehicles.
But if you just zoom out and look at what they're called
and look at the shape of them and say,
okay, so you've got a three and a Y.
They don't really sell the S and the X in a lot of countries,
but it's the same cars.
And, well, yeah, but they're always making improvements to them.
So I think there's some nuance there to bear in mind.
Tesla has started to roll out cheaper models as well.
In fact, earlier today,
I got an email from Tesla UK
pointing out that you can now get the Model Y
standard range in the United Kingdom,
as of literally a few hours ago, as of this morning.
And with maybe three and a half thousand pounds down
as deposit, it's 2.99 a month over three years.
So what's that gonna cost you?
What, 14 grand in total?
To have a car for three years?
Yeah, it's still not the cheapest way to go motoring,
but it is a brand new standard range Model Y,
fully updated.
I wouldn't do it.
It's not the way I buy my cars,
but it's the way most people get their cars
and I still think that's a very competitive deal.
Also, that new Model Y standard range
has the lowest insurance group of any Tesla ever sold in the UK.
They definitely need to come with those attractive finance
deals to try and get buyers interested again.
Model Y is down in most markets.
Investors and rivals are now focused on 2026 at Tesla.
How will they do their pricing strategy
and how will they shift more cars?
Okay, let's talk about the White House in the US.
The administration there has proposed a sharp weakening
of fuel economy rules,
undercutting one of the main federal tools
that nudges car makers to go green.
Unveiled on December 3rd this week,
the plan cuts required fleet-wide averages
for the 2031 model year to just 34 MPG.
Well, the Biden era target was 50.4 MPG.
And that's a stretch goal,
but yeah, that is six years away.
That's the 2031 model year.
Smart people at car makers were working on that problem already.
That gap of taking it down from 50.4 MPG to just over 34 MPG
completely eases the pressure on manufacturers
to make their vehicles more efficient.
In other words, use less gas.
In other words, cost Americans less money at the pump.
This rule redraws how vehicles are classified.
Cross-overs and SUVs would count as passenger cars
and some of the biggest SUVs would no longer be called
light trucks, they're just a passenger car.
And that changes how companies calculate their corporate
average fuel economy.
Car standards are tighter than truck standards.
So that shift would actually bring in larger vehicles
to comply with these stricter standards.
At a White House event this week,
lawmakers cast the move as a blow
against environmental regulations.
This White House has largely been elected
on oil money and petrol money.
And so it's kind of obvious that they're going to do everything
they can to wind back environmental rules.
They said that people have been brainwashed,
that this is a green new scam,
and that people were paying too much for a car
that doesn't work as well.
All of the nonsense is being taken out of cars,
said the U.S. presidents.
The proposals build on earlier steps taken by the
Republican-led Congress.
Those include ending federal tax credit for new and used
electric vehicles, revoking California's power to set
their own emissions rules in a state that previously
suffered from exceptionally poor air quality
and tried to do the best it could to clean up its air
for the people that live there.
It also scrapped fuel economy penalties that had
backed up the standards and supported a credit
market favoring companies that made EVs.
Major car makers signaled support.
They also turned up to appear alongside
Donald Trump at the announcements among them.
Ford turned up to offer their full support of Trump,
Stellantis and General Motors.
The head of Toyota recently appeared in a MAGA t-shirt
and a MAGA cap as well, jumping up and down in excitement
at supporting the automaker.
I saw quite a critical opinion piece in the trade
publication Automotive News saying that maybe car
makers like Toyota shouldn't be appearing in MAGA caps
and MAGA tops, but well, you know,
Mr. Toyota can do as he wishes, if you ask me.
Now the measure now goes to the federal register.
There's a 40-day public comment period.
That won't do any difference.
And then they'll be hearing of the NHTSA and the car
makers will be able to make dirtier, more thirsty cars
for Americans, which will cost more at the pump,
but make them more money.
Let's go to Germany, which is on the brink of a landmark
in their switch to EV.
By early October, 1.93 million battery electric cars
were registered in the country according to the
central vehicle register.
That was about 94,000 more than three months earlier.
So that puts Germany on the trajectory to exceed
2 million pure bevs on the road by the end of the year.
Pure electric cars now account for just under 4%
of Germany's 49.6 million strong car fleet.
Hybrids are playing a role with 4.18 million on the road,
including 1.09 million plug-in hybrids.
Conventional engines dominate, of course, 29.5 million
petrol cars and 13.6 million diesel cars are in service.
Progress has been rapid in Germany.
They passed the 1 million mark for bevs three years ago.
The previous federal government set a goal of 15 million
by 2030.
That target is now widely seen as out of reach,
since it would mean that almost all new car
registrations in the next five years would need to
be Norway levels of electric.
From January to October this year, 435,000 new bevs
were registered, giving them an 18.4 share of new vehicles.
Let's talk about Kia slashing EV prices with
$10,000 incentives, Kia launching one of the
boldest EV discount programs in the US.
Cutting prices by as much as a quarter after
losing the federal tax credit, buyers can now
get $10,000 off every Kia, the Nero EV,
the EV6, and the Three Row EV9, hoping to
blunt the impact of the loss of the federal tax
credit, which expired at the end of September.
The cuts reshape Kia's pricing.
The Nero EV, the brand's least expensive electric
model at $41,000 before incentives, now carries
a 24% discount with the new offer.
The EV6 price drops by 23% with a larger
EV9 down by 18%.
Kia is also piling on loan and lease deals.
The EV6 and the EV9 are available on 0% APR
up to 72 months.
That's a very real world discount for buyers.
The EV6 includes $2,500 called a finance bonus,
and the high performance EV6 GT,
the 641 horsepower fire breather, has $16,500
in what they call lease cash.
Advertised leases start at $209 per month
for the Nero EV.
All EV6 and nine models now come with
North American charging standard ports on the
side of them, giving owners access to
21,500 Tesla superchargers natively.
Volkswagen Group is overhauling how its
mass market brands build its cars worldwide
to prepare for the next move into electric vehicles.
Under the future production governance plan,
22 factories that make Volkswagen,
Škoda, Seat and Cooper models will be
organised into new regional clusters.
Each cluster will be run by a chief production
officer in charge of cross brand planning,
model allocation, launches and logistics.
The first test case will be on the Iberian Peninsula.
Iberia sits at the heart of
Volkswagen's entry level strategy.
The ID Polo, Cooper Reval and the other
small battery electric car families
will be built in Monterey, in Spain.
The VW ID Cross and Škoda Epic
compact crossovers will come from Pamplona.
A smaller EV, the ID1, coming in 2027
will be made at VW's Settable Plant
in Portugal, which currently builds the T-Rock.
Volkswagen expects to roll out
more regions next year.
People familiar with the plans
say Europe will be split into
Eastern and Central clusters
with further regions for North and South America.
The shift moves the group away
from strict brand autonomy
towards integrated regional manufacturing
in the EV age.
Let's talk Porsche Cayenne.
They're pitching their electric version
as the EV flagship
as the more capable version
to go off-road than its petrol version, a Cayenne.
Michael Stetzl, Vice President of the Cayenne model line
said that the electric SUV
beats its own benchmarks.
Simulation work at the Weissach Plant in Germany
and desert testing in Dubai
showed it outperformed
the combustion versions of the Cayenne.
Engineers first set out to match
the combustion Cayenne's off-road performance.
But he says the EV turned out
way better than we believed
and ultimately much better than ICE.
The Cayenne electric can be ordered
with the off-road package
with a 25-degree approach angle.
Its air suspension lifts the ground clearance
to 245 millimeters.
Braked towing capacity is 3.5 tons
matching the combustion ones.
Range and charging will be central
to its usability.
Porsche quotes 642 kilometers WLTP
if you're not towing.
Now, Dirk Britson,
the sales and marketing director
in Australia for Porsche's SUV line
concedes that towing
does cut the figure in electric world.
But in one development run,
they towed a Porsche speedboat
for 380 kilometers between Salzburg and Stuttgart
or 250 kilometers of which were on motorway driving.
Now we'll take a break, we'll come back,
we'll talk California, BMW and Irish EVs
on the podcast. Stick around back in a moment.
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BMW is stepping up pressure on Brussels
to seal a trade deal with Washington,
arguing that tariffs are distorting the economics of EVs.
Speaking to reporters in Brussels on December 2nd,
Oliver Zipser, the firm's boss,
said the gap between the two sides is widening.
He said,
the United States already implemented its part of the deal
retroactively as of August 1st,
the EU, the European Union,
has yet to do so.
Until EU lawmakers ratify the agreement,
expected in 2026,
BMW must keep paying duties on cars shipped to Europe
from its American plants,
as well as on Chinese-built electric minis.
The United States is BMW's second-bizic,
biggest overseas market,
so any disruption there feeds straight through to margins.
Tariffs from both Washington and Brussels
have already dragged on the company's earnings.
German rivals Mercedes-Benz and Porsche
are facing similar headaches.
Zipser said it was imperative
that the European Union also finalizes
and implements the agreed measures promptly,
noting that BMW took part in talks
with the EU and the US trade officials last week.
He also faulted Brussels
for not dealing with high tariffs on Chinese-made EVs,
while China firms escape extra duties
on hybrid models that come to Europe.
BMW pays almost 31% in EU duties
on their EVs made in China.
The dispute comes as BMW is pouring
more than 10 billion euros,
or 10.8 billion US dollars equivalent,
into its Neuerklasse EV platform,
keeping pace with global leaders like Tesla and BYD,
and in some cases,
moving the game forward with vehicles like the IX3.
California has ended its EV carpool access.
Solo drivers of electric
and other qualifying clean air vehicles in California
can no longer have access to the state's carpool lanes.
As of Monday this week,
anyone driving in the HOV lane
faces a $490 fine.
The change effectively ends
California's long-running decal program for solo use.
For years, the decals let EVs
use carpool lanes,
regardless of how many people were in the car.
That privilege expired for solo drivers earlier this year,
but they gave you a 60-day grace period.
On paper, it's a big shift.
As of August the 14th,
data more than half a million motorists
had active decals.
California has 1,171 miles of carpool lanes statewide.
The perk is ending
because Congress's authorization for California's program
expired on September 30th.
That authority stemmed from a 2015
federal highway funding bill.
State lawmakers tried to keep the lanes open
to eligible solo drivers through assembly bills,
which would have extended the program
through another year.
Governor Gavin used some sign of the bill,
but it did not win the needed federal approval.
Electric cars have reached a new milestone
in Ireland's new car market this year.
Battery electric vehicles are now 18.4%
of all new registrations.
That's the highest share yet.
That edge is past the previous peak set in 2023.
Volkswagen leads the way in Ireland
with 3,265 registrations so far this year,
followed by Kia and Tesla.
The VW ID4,
Tesla Model 3,
and Kia EV3
are the best-selling EVs so far this year.
Now, a planned per mile tax on electric cars
is not going to wipe out the cost advantage
over combustion,
according to new analysis
from the Energy and Climate Intelligence Unit.
After the UK's autumn budget,
the Treasury set out plans
to charge three pence per mile from 2028.
The Office for Budget Responsibility
called it the new EVED.
We'll call it the paper mile tax.
It said that it will raise £1.1 billion
for the ex-checker in 2029.
Now, the ECIU looked at 10 years of ownership
for last year's 10 most loved EVs.
The study folded in the purchase price,
insurance, maintenance, electricity,
fuel, and the new mileage tax
that's still three years away.
Then they compared that
to the cost of running petrol or diesel.
On average, drivers save £1,450 a year
by choosing an EV,
even after paying the three pence per mile charge.
Larger models, take a Jaguar I-Pace
or a Polestar 2 or an Audi Q4,
come out at £700 a year cheaper to run.
At the smaller end,
a Renault Zoe would save £940,
a Kia E-Niro, £650 a year cheaper
than its comparable combustion car.
The study links these savings to lower charging costs
and the way that used EV prices
have fallen relative to petrol.
Colin Walker, the head of transport there,
says savvy families are dodging
the petrol premium by going to used EVs.
Industry groups say that the new paper mile tax,
along with the new annual MOT mileage checks,
risks slowing down the move to EV.
Even so, many analysts expect
both new and used EVs to still be
much cheaper to run,
particularly for drivers who can plug in at home
or on the street and benefit from smart tariffs.
And that's your podcast for today.
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And as a result, my savings took a backseat.
But Rocket Money doesn't just tell you
what you're wasting money on.
It takes action to save you money.
First, the app looks at your income
and monthly expenses
and calculates how much you can safely spend
each day to stay under budget.
Rocket Money also finds
and cancels unwanted subscriptions for you
and even negotiates better rates on your bills.
So you have more money in your pocket.
On average, Rocket Money members
can save up to $740 a year
when using all the app's premium features.
Users love the app with over 186,000 five-star ratings.
It's time to simplify your finances
and take control of your money.
Go to rocketmoney.com slash cancel to get started.
That's rocketmoney.com slash cancel.
Rocketmoney.com slash cancel.
Running a business is hard enough.
So why make it harder
with a dozen different apps
that don't talk to each other?
One for sales.
Another for inventory.
A separate one for accounting.
Before you know it,
you are drowning in software
instead of growing your business.
This is where Odoo comes in.
Odoo is the only business software
you'll ever need.
It's an all-in-one,
fully integrated platform
that handles everything.
CRM, accounting, inventory,
e-commerce, HR, and more.
No more app overload.
No more juggling logins.
Just one seamless system
that makes work easier.
And the best part?
Odoo replaces multiple expensive platforms
for a fraction of the cost.
It's built to grow with your business
whether you are just starting out
or already scaling up.
Plus, it's easy to use,
customizable,
and designed to streamline every process.
So you can focus on what really matters
running your business.
Thousands of businesses have made the switch.
So why not you?
Try Odoo for free
at odoo.com.
That's odoo.com.
Cheap Caribbean vacations.
Get more send for your dollar.
Start the year with Sunshine
and big savings from Cheap Caribbean vacations.
Right now, you can score up to $250 off.
Plus, save more at top-booked resorts
in Mexico and the Caribbean.
Your next beach vacay is calling,
so why wait?
Go to CheapCaribbean.com
and kick off the new year
with more beach, less money.
Cheap Caribbean vacations.
Get more send for your dollar.
If dealing with Christmas lights
turned on a light that your roof or gutters
might need some holiday love,
let Fisher Roofing save the day.
It's Brett Rekamp for my good friends at Fisher Roofing.
These winter months mean a lot of roofing companies
go into hibernation,
but not Fisher Roofing.
They're up and running with their own in-house crews,
never any subcontractors.
For over 40 years, family owned and operated
with buying power and competitive pricing.
Don't forget your roof this holiday season.
Fisher Roofing, everything your roof needs.
Call 503-227-ROOF.
FisherRoof.com CCB 45970.
Forget Old Man Winter.
If you need roofing help,
Fisher Roofing will answer the call.
For over 40 years,
they've been maintaining and replacing roofs
all over the Northwest.
Fisher Roofing has dedicated project managers
with their own crews, no subcontractors.
That means one person start to finish
all year, every year.
Don't wait till the new year.
Let Fisher Roofing jump on it now.
They can even use their weather tracking program
for one day roof tear-offs.
Fisher Roofing, everything your roof needs.
Call 503-227-ROOF.
FisherRoof.com CCB 45970.
About this episode
Tesla faces significant challenges in Europe as its market share declines amidst fierce competition from Chinese manufacturers like BYD. Registrations in key countries, including France and Spain, have dropped sharply, raising concerns about Tesla's future in the region. Meanwhile, the U.S. government has proposed rolling back fuel economy standards, which could impact EV adoption. Germany is nearing a milestone of 2 million registered electric vehicles, while Kia introduces aggressive pricing strategies to maintain competitiveness. The episode also discusses the implications of a proposed per-mile tax on EVs in the UK.