Poll: Will you be purchasing an EV in foreseeable future?

Discussion in 'The Cocktail Lounge' started by emmett kelly, Nov 16, 2021.

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Will you be buying an EV in foreseeable future?

  1. Yes

    2 vote(s)
    33.3%
  2. No

    4 vote(s)
    66.7%
  3. Go scoop some poop, clown!

    0 vote(s)
    0.0%
  1. emmett kelly

    emmett kelly Well-Known Member

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    EDIT: appears some participants are having difficulty determining their choice. For the purposes of this poll, let's call the foreseeable future 5 years or less.

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    EV Stocks Pass Traditional Car Makers in Market Cap, No Thanks to Tesla -- Barrons.com

    Today 9:55 AM ET (Dow Jones)Print

    Electric-vehicle stocks, except for Tesla, have piled up enough big gains recently that the EV sector's market capitalization exceeds that of auto makers using internal combustion engines.

    The gains for EV stocks other than Tesla (ticker: TSLA) are everywhere. Rivian Automotive (RIVN) stock was up about 91% over the past four trading days and gained another 10% in premarket trading Tuesday. Futures on the S&P 500, meanwhile, were flat. Futures on the Dow Jones Industrial Average rose about 0.2%.

    Coming into Tuesday's trading, Lucid (LCID) stock was up about 86% over the past month. The stock was up another 6% in premarket trading Tuesday after Lucid reported third-quarter numbers late Monday, saying it already has enough customer reservations to meet Wall Street's entire 2022 sales estimates.

    Special-purpose acquisition companies are contributing to the market-cap surge. Shares of Gores Guggenheim (GGPI), which is merging with Polestar, gained more than 15% Monday. Polestar is valued at more than $30 billion.

    Chinese EV stocks are posting gains too. XPeng (XPEV), NIO (NIO) and Li Auto (LI) shares are up 13%, on average, over the past three months

    The market capitalization of EV auto makers is now about $1.52 trillion, larger than the $1.47 trillion figure for the traditional auto makers. The entire auto manufacturing sector is worth about $3 trillion, another reminder for investors that the automotive business is huge.

    Tesla stock, however, isn't contributing to the recent rally. Shares have dropped about 17% since Elon Musk started selling stock. He has been unloading shares since he conducted a Twitter (TWTR) poll asking if he should sell 10% of his stake and pay taxes on unrealized capital gains, and received a positive response.

    Still, Tesla stock is up almost 50% over the past three months. It remains the world's most valuable auto company with a market capitalization of more than $1 trillion.

    Of course, EVs still represent a small fraction of overall car sales, a fact that has raised concern among value-oriented investors that EV stocks are in a bubble. Growth investors will point out EVs are growing faster than anyone expected and that the future looks bright for battery-powered personal transportation.

    Although the EV bull-bear debate will play out over coming years, backers of the stocks have the upper hand for now.

    Write to Al Root at [email protected]
     
    #1 emmett kelly, Nov 16, 2021
    Last edited: Nov 16, 2021
  2. TomB16

    TomB16 Well-Known Member

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    I voted "yes" but our next car will arrive in the next 5 weeks and it will be fuelled by gasoline. I'm confident this will be our last ICE vehicle.

    My hope is this will be the last vehicle we own. I'd like to join a ride share network and never drive again but it would have to be similar or lower cost to owning a vehicle. If we need another car, it will be an EV.
     
    #2 TomB16, Nov 16, 2021
    Last edited: Nov 16, 2021
  3. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    I didn't vote. I have no plans to buy a car, and think the one I got can go for another 20 years.
    However, I know California is outlawing gas stations. So I've come to terms that I may need to get a new car sooner, and that my next car should NOT be gasoline-fueled. I'm looking at either electric or hydrogen.

    I'd like to note that there's a couple of aspects of electric cars that will probably affect me, which I am not feeling confident about.
    1) Rental cars: I do not look forward to renting an electric car because I would not want to recharge it before returning. I shudder to think how much rental companies will bill for that. Probably hotels will get in on it too, how much will that be when just parking overnight goes $35+?
    2) Lots of mining to make these electric batteries. Don't know how the green folks reconcile that with their aim of reducing carbon footprints and saving the environment.
     
    TomB16 likes this.
  4. TomB16

    TomB16 Well-Known Member

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    I can help with that.

    This is a pic of Prince William Sound, circa 1989. The best part is: this is literally a rounding error in the grand scheme of planetary carbonization.

    [​IMG]
     
  5. StockJock-e

    StockJock-e Brew Master
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    Im on my last ICE car right now. The next one is EV for sure.
     
    TomB16 likes this.
  6. T0rm3nted

    T0rm3nted Moderator
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    My next car will be electric, but until my Jeep Cherokee dies, I'll keep running it. It's a 2016 and I live 8 minutes from work, so it could be another decade. It will be paid off in the next few months.
     
    TomB16 likes this.
  7. StockJock-e

    StockJock-e Brew Master
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    Same, my average drive is 10min, not doing and cross country trips every often. Electric is perfect for 99% of my needs.
     
    TomB16 likes this.
  8. B Russ

    B Russ Well-Known Member

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    :rolleyes: I dont think i have to tell anyone my vote…im frugal and will drive mine into the ground, but when its time, there is only one manufacturer im looking at….
     
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  9. emmett kelly

    emmett kelly Well-Known Member

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    the latest buzz i'm seeing is that you'll get a bigger tax credit if you buy an ev built at a union plant. fyi.
     
    T0rm3nted and bearmarketcrash like this.

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