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Electric Vehicle Scam?

From Fox Business News
LECTIC Canadian man is calling electric vehicles the “biggest scam of modern times” after his frustrating experience with an electric truck. 

Dalbir Bala, who lives in the Winnipeg area, bought a Ford F150 Lightning EV in January for $115,000, plus tax. He told FOX Business he needed the vehicle for his work, but also wanted something suitable for recreational activities such as driving to his cabin or going fishing. He also wanted an environmentally friendly vehicle as owning one is “responsible citizenship these days.”

dalbir bala

Dalbir Bala shares his frustrating experience after purchasing an electric truck. (Dalbir Bala / Fox News)

But Bala was quickly hit with the reality of owning and operating an EV soon after the purchase. The vehicle compelled him to install two charges – one at work and one at home – for $10,000. To accommodate the charger, he had to upgrade his home’s electric panel for $6,000.

In all, Bala [...]

34% of Americans Would Consider Buying an EV

From: Thomson/Reuters. All rights reserved.

34% of Americans Would Consider Buying an EV

BYD ATTO 3 EV car on display at the Thailand International Motor Expo. (Dreamstime/2022 file photo)

Tuesday, 21 March 2023 04:06 PM EDT

Just over one-third of Americans would consider buying an electric vehicle for their next model, a new Reuters/Ipsos poll found.

The seven-day poll completed Monday found 34% of all respondents would consider an EV, while 31% said no. Among Democrats 50% said they would consider an EV, while 26% of Republicans and 27% of independents said they would consider.

There are now more than 80 EV models for sale in the United States. EVs represented nearly 6% of all U.S. sales in 2022, with EV sales up by more than 60% last year.

President Joe Biden wants 50% of all new vehicles sold in 2030 to be EV [...]

Published March 20, 2023 3:40am EDT

Energy Unless reparability in EV batteries is addressed and fixed, the pile-ups will increase — and so too, will premiums, expert says

By Lawrence Richard FOXBusiness

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Pushing an expensive electric vehicle is out of touch with reality: Benji Backer

American Conservation Coalition founder Benji Backer discusses the pros and cons of electric vehicles and green energy on ‘Kennedy.’ 

A scratched or slightly damaged electric battery might be enough for some insurers to write off entire cars, as for many electric vehicles there is no way to repair battery packs after collisions. 

As a result, the consumer — who likely acquired an electric vehicle wanting to reduce monthly costs — faces higher premiums and some countries are starting to see electric vehicle batteries piling up in scrapyards, according to Reuters. 

Matthew Avery, research director at automotive risk intelligence company Thatcham Research, said the goal of electric vehicles was sustainability, but a lack of reparability is creating [...]

From Fox Business:

Hurricane Ian has insurance crime experts warning car-buyers over flood-damaged vehicles Scammers may try to take advantage of the disaster

By Breck Dumas FOXBusiness

video

Insurance coverage after Hurricane Ian ‘will be a disaster’: Cocoa Beach Mayor Ben Malik

Cocoa Beach Mayor Ben Malik weighs in as Florida begins to assess Hurricane Ian’s catastrophic damage.

Hurricane Ian flooded an untold number of vehicles when it hit Florida and other southern states last week, and experts are warning unsuspecting car-buyers against the heightened risk of fraud as those cars may soon appear for sale across the U.S. — with no disclosure of the damage.

The National Insurance Crime Bureau (NICB), a nonprofit that works to combat and prevent insurance crime, says that in the wake of major flood events, scammers will emerge and buy up water-ravaged cars and try to resell them as undamaged vehicles.

hurricane ian cars flooding

A flooded street with [...]

https://www.foxbusiness.com/economy/used-cars-costing-consumers-10000-more-than-normal-inflation-rages

https://apnews.com/article/consumer-prices-inflation-c1bfd93ed1719cf0135420f4fd0270f9

https://www.foxnews.com/us/car-prices-remain-high-as-chinese-made-semiconductor-shortage-keeps-inventories-low

Used car times are tough. Covid 19 has impacted many aspects of our lives, and this business is not immune, no pun intended. The used car market has gone crazy, with wholesale supply limited and associated costs skyrocketing. I’ve had great difficulty acquiring quality vehicles that I normally would buy on a weekly basis. New car sales and production are off some 35% in the last 3 calendar quarters, which translates into fewer trade in cars, a main source of used car inventory. There is a world wide shortage of microchips that are the brains in modern vehicles. This is causing a tremendous shortage in new vehicle inventory, fueling the sales downturn. Fewer new car sales equal fewer trade in vehicles. Also, the pandemic has more people opting out of public transportation and driving, causing an increase in vehicle demand. The result is a rise wholesale costs as much as 42% in the last several [...]

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