A 10 Year Permit Process for EV Minerals, New Vehicles Sales Got Gains, a $30k EV Battery Replacement

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Happy Thursday Troublemakers. Today we are talking about the longest permitting process ever and why it needs to change if EV Automakers will be able to keep up. We also talk about the premium price that is about to come with Netflix new ad service, as well as a fact-checked $30k EV battery replacement.

  • Inventory shortage easing as new vehicles sales for Kia and Hyundai as they see their first YOY growth since Summer of 2021
    • Kia, with the lowest day's supply of vehicles, according to Cox Automotive data, said it set an August record with 66,089 deliveries, signaling the company's lineup continues to churn at a high rate.
    • S&P Global Mobility last week reduced its forecast for U.S. auto sales in 2022 to 14.1 million, from 14.6 million as recently as July.
    • August marked the 10th consecutive month that retail inventory closed below 900,000 units, J.D. Power and LMC Automotive said.
    • August was the fourth consecutive month with incentives below $1,000.
    • An extra selling day (removing Sundays) may have been a contributing factor to the growth.
  • Ford and Rivian separately petitioned the US Dept of the Interior to speed up the permitting process for EV minerals essential for domestic battery production
    • The letters urge the Department to restrict the permitting process to no longer than three years. The current process can take as much as ten
    • "Today's lengthy, costly and inefficient permitting process makes it difficult for American businesses to invest in the extraction and processing of critical minerals in the United States," Chris Smith, Ford's chief government affairs officer, said in a letter to the department.”
    • Smith continues, “"In contrast, Canada and Australia have adopted mineral permitting policies that enable producers to complete the process in two to three years, while maintaining stringent environmental standards.”
    • Requested use of public funds for geo mapping and otherwise identifying mineral deposits across the US was also mentioned
  • A $30k Dealership quote for a battery replacement circulating via a FB post on a 2012 Chevy volt was fact-checked by USA Today…and its real
    • The post reads ““A Chevy Volt, with just 70,000 miles, needed a new battery and some coolant.. That'll be $30,000 dollars please!”
    • The price was confirmed by Gary Herrmann, the Service Director of Roger Dean Chevrolet in Cape Coral, Florida as he explained the battery is out of warranty, discontinued by GM, and has to be obtained from a third part supplier
    • Average battery replacement in an EV is around $6300 with others such as the Ford Mach E costing as much as $20k
    • Original cost of a 2012 Volt started at $39,145

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