And demand will probably go up a lot further still. Right now fuel prices are kept artificially low by every country releasing their strategic reserves, but these will run out at some point.
Europe is heading into the worst energy crisis since at least the 1970s, possibly worse. And yet very little is happening to prepare for it. Definitely some fun times ahead.
It’s so wild to me to make a multiyear purchasing decision based upon recent events. My next car will be an EV not suggesting it’s a bad decision however I’m still blown away by statistics like this.
> It’s so wild to me to make a multiyear purchasing decision based upon recent events.
Recent events? Russia going rogue and the US going haywire both happened a decade ago at least. Those are two major suppliers of fossil fuel for Europe.
The current trend was bound to happen, it only required time for the industry to pivot.
It moves up people's purchasing plans. If you were expecting to replace your vehicle in the next two years because of performance degradation, and now your fuel costs are substantially higher, then a purchase today might make more sense than your original plan.
The thing is a lot of people might be right at the tipping point of buying an EV and then some news like this comes out and it pushes them over the line.
I feel EVs at this moment are right at the level of “I’m gonna buy a new car, but maybe I’ll wait for the one after before I jump into an EV”. Better batteries (solid state), better charging speeds and more fast charger availability seem to have a large group of people waiting.
Renault seems to have made a sensibly priced range with some classic styles too. Familiar cars but with EV, rather than early adopter cars like the Nissan Leaf or weird tech bro cars.
Yeah buying an EV instead of a gas car is a hedge that doesn't cost much. There is an asymmetry in the upside and downside risk. The downside risk is all on gas with no upside. No downside for the EV.
Well most of the increase in prices goes into petroleum companies' profits (at least the ones that can export). So it's technically not lost and will be invested somehow.
Like a Carbon tax, the money doesn't disappear. But to whom it gets distributed, that's another story...
And demand will probably go up a lot further still. Right now fuel prices are kept artificially low by every country releasing their strategic reserves, but these will run out at some point.
Europe is heading into the worst energy crisis since at least the 1970s, possibly worse. And yet very little is happening to prepare for it. Definitely some fun times ahead.
The US is on pace to run out of its strategic reserve in ~2 weeks.
Since the article is about Renault, I wanted to mention their EVs use motors with no rare-earth metals.
https://www.renaultgroup.com/en/magazine/energy-and-powertra...
It’s so wild to me to make a multiyear purchasing decision based upon recent events. My next car will be an EV not suggesting it’s a bad decision however I’m still blown away by statistics like this.
> It’s so wild to me to make a multiyear purchasing decision based upon recent events.
Recent events? Russia going rogue and the US going haywire both happened a decade ago at least. Those are two major suppliers of fossil fuel for Europe. The current trend was bound to happen, it only required time for the industry to pivot.
This also coincides with EVs becoming better and cheaper
It moves up people's purchasing plans. If you were expecting to replace your vehicle in the next two years because of performance degradation, and now your fuel costs are substantially higher, then a purchase today might make more sense than your original plan.
I bought one because I had a feeling that the price of used EVs was about to shoot up
The thing is a lot of people might be right at the tipping point of buying an EV and then some news like this comes out and it pushes them over the line.
I feel EVs at this moment are right at the level of “I’m gonna buy a new car, but maybe I’ll wait for the one after before I jump into an EV”. Better batteries (solid state), better charging speeds and more fast charger availability seem to have a large group of people waiting.
Renault seems to have made a sensibly priced range with some classic styles too. Familiar cars but with EV, rather than early adopter cars like the Nissan Leaf or weird tech bro cars.
The Renault 5 is selling like crazy.
Makes sense why, reasonable price, good design, made in Europe EV.
It's what a lot of people have been waiting for.
I'm well aware things can change, but having my everyday commute costs generally decoupled from geopolitics seems nice
Yeah buying an EV instead of a gas car is a hedge that doesn't cost much. There is an asymmetry in the upside and downside risk. The downside risk is all on gas with no upside. No downside for the EV.
I think this is people that were thinking of getting an EV anyway and they decided to do it earlier
Pretty frustrating that so many people have to face the actual crisis to actually react to it. And that’s the case in so many situations
I'm not considering replacing my car just yet, but supplementing with an electric scooter or bike might be nice
We went with a PHEV when I renewed our lease last month, specifically because gas prices
as a charging station network founder, I can confirm, the summer has never started off this welll.
A silver lining to the storm clouds of war.
Yep, Trump enacted a de facto global carbon tax.
The carbon tax is supposed to finance things, what Trump has done is more like forcing the crisis. More like an acceleration
Well most of the increase in prices goes into petroleum companies' profits (at least the ones that can export). So it's technically not lost and will be invested somehow.
Like a Carbon tax, the money doesn't disappear. But to whom it gets distributed, that's another story...