What a treat it was to have Patrick Anderson, founder of Anderson Economic Group, join us to discuss the economic impact of electric vehicle (EV) costs and tariffs on the automotive industry! Patrick always brings fresh, informed insights backed with oodles of research.
Patrick highlighted that EVs are more expensive than traditional vehicles, with real-world costs often exceeding initial projections. Anderson also noted the significant tariff costs on American-made cars, ranging from $2,000 to $8,000 per vehicle, which are affecting sales and job markets. He emphasized the importance of realistic market analysis and the potential for policy changes to impact EV subsidies. Additionally, he shared insights on the resurgence of internal combustion engine vehicles and the need for quality improvement in the industry.
Here are the highlights:
01:15 - Anderson Economic Group Overview
04:30 - Tariffs and Their Impact on the Auto Industry
06:30 - Used Cars and Tariff Uncertainty
15:00 - Cars Cost Cognitive Dissonance
24:30 - The General Motors Response to Market Realities - the EV transition that wasn't
32:30 - Chart: the Tariff Impact on Car Prices
38:15 - Final Thoughts and Music Recommendations
What a rich discussion this one was! Tune in for the whole thing - you'll be glad you did.
Links:
Patrick shared his music choices, starting with Led Zeppelin tribute band Zepparella. Here they are live doing "The Rain Song" and "Going to California:" https://www.youtube.com/watch?v=9smvLgcTCfI
He also recommended the Neil Anderson Jazz Quintet's "M-199:" https://www.youtube.com/watch?v=T0v2hUipyv8
Here's Patrick's company's site: https://www.andersoneconomicgroup.com/
Here's the GM press release about its new investment in ICE vehicles: https://investor.gm.com/news-releases/news-release-details/gm-invest-4-billion-its-us-manufacturing-plants
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