The Rising Influence of Rising Affluence

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TM - Perhaps Lexus are selling better than I thought but Mercedes and BMW ICE market share is getting hurt more and more. IMO there is hype but only because people (~100%) of the people I know that drive EV's aren't going back to ICE. In fact, if they have remaining ICE cars after their initial purchase, they plan to switch all of their ICE cars out as soon as feasible. What I see are battery supply bottlenecks and demand continuing to outstrip supply - not just Tesla. Don't know how well the first generation designs - eg Nissan Leaf are selling but specs are underwhelming given the choices now. Low end BYD that share ICE platform also not doing well while high end setting records. If TM CEO is referring to EVs that can compete around the average ICE price than he is probably right but the hourglass is running out as fast as battery capacity can be built.

Or perhaps he doesn't see TM going prime time on their SS battery tech any time soon because if I were to believe the Nikkei article, they are ready to go soon. If that is the case, TM will be in trouble because VW will ramp hard with ID3 and ID4.