Article

2023-07-16 Economy

A Rivian EV owner was in a fender bender. The repair bill was $42,000.

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Posted by Besoeker 2023-07-16 07:42|| || Front Page|| [14 views ] Top

#1 Ah. As insurers get data like this, watch what happens to the cost of insuring an EV.

Posted by M. Murcek 2023-07-16 08:49|| 2023-07-16 08:49|| Front Page Top

#2 ...The design of just about every EV means that even a basic accident like this means you're going to pay well into five figures to fix it - if you can find somebody to fix it.

So you might say, "Well, Mike, I'll show you - it's just a dent; everything is working, I'll keep driving it. So there."

Well, that's not a good idea either. See, even the most simple of EVs - take a base model Tesla, for instance - is a sensor package on wheels that relies on VERY precise measurements and calibration for them to function. One of them is even faintly out of whack and they all are...which means you may not know exactly what's happening with your car. Little things like speed, remaining charge, details like that. Not to mention that on most pure EVs, ANY collision that leaves damage - even scuffed paint - requires inspection, or it voids the warranty.

Mike

Posted by Mike Kozlowski 2023-07-16 09:09|| 2023-07-16 09:09|| Front Page Top

#3 Teslas are notoriously poorly put together. I'm sure part of the Tesla PR budget is spent suppressing stories like this.

Posted by M. Murcek 2023-07-16 09:12|| 2023-07-16 09:12|| Front Page Top

#4 I still maintain Tesla (TSLA) sees $100/share again.

Tesla had to cut prices multiple times this year, and here we are in a recession with more people shopping at the likes of Dollar General.

Meanwhile, it's all going according to plan.

Posted by DooDahMan 2023-07-16 09:26|| 2023-07-16 09:26|| Front Page Top

#5 The absurd explosion of helicopter money as a band-aid on the real problems of the US economy (long predating the Fed's COVID interventions) have created a lot of market distortions that, as the economist said, are things that can't go on forever, and so they won't.

Posted by M. Murcek 2023-07-16 09:30|| 2023-07-16 09:30|| Front Page Top

#6 /\ Yes, in time you simply run out of credit cards.

Posted by Besoeker 2023-07-16 09:32|| 2023-07-16 09:32|| Front Page Top

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