2024 Silverado EV - Revealed

[Cujet]

Just a quick comment on mileage. For rough numbers the 200 kwhr battery pack will result in 400 miles of range or 2 miles/ kWh. If we used $0.30 per kwhr in California, ( please leave home based solar charging out of this ), it means you can go 2 miles for $0.30 or one mile for $0.15.

Now assume this is a gas powered truck. I’ll throw out a number like the gas truck might get 15 mpg. ( we can tune this up later). In California, gas is closing in on $5/gal, or 15 miles for $5 or one mile for $ 0.33.

So, the electric truck is half the cost to power it, if you charge at home. Not bad actually. I’ll let the others comment on the replacement taxes for road tax, electrical costs at public chargers, yada, yada, yada.

Not if charging at the 50c per KWH highway chargers. AND we must remember that one purchases (pays for) more KWh than the battery puts out. From 13% to as much as 30%. Any way you slice it, on a road trip, you are paying no less than 29c per mile and maybe as much as 32c per mile.

 

[ME_Andy]

I was reading the Wikipedia page on Ultium and learned the battery monitoring system is wireless. Wonder how that works.

 

[panthermike]

Went from starting around 40, now at 75k wow!

 

[alarmguy]

It doesn't seem sustainable either. The price of some of these vehicles is just nuts.

Considering a median household income of just 75,000 a year I think we can only conclude they are producing the most profitable first as it is the enthusiasts and high income people that will be purchasing first, since production would not be able to produce all trim levels in sufficient quantities.
For the heck of it for the median income level (ish) with no money I entered a price of 75k, with 5k down (if that is possible) and loan of 70k for 8 years @6% = $919.90 a month plus insurance. 8 year loan = 18k in interest alone and total price with interest comes to $88,000 plus their $5000 deposit = $93,000
There are people that will do this as they do it right now. Im talking people with good credit but live pay check to pay check and move from auto loan to auto load most their lives. Proudly supporting the banking infrastructure in the country.

Anyway, of course many have the means to buy these vehicles by writing a check out of their checking account and why I am sure the auto makers will produce profitable vehicles for them first. Still selling to lower income people becomes profitable for the dealers selling financing.

I think then we also have a few real truck owners that will laugh at these vehicles at first like they are toys. But they are also buying these same type of ICE version.

Even with the example above I am being overly conservative many of these trucks cost way more than my example. Also Financing can be more but I had to use a number as sometimes dealers have incentives but I doubt they will on EVs for some time to come.

 

[UncleDave]

It doesn't seem sustainable either. The price of some of these vehicles is just nuts.

What are you worried about - uncle sam (you and I ) pick up the bill for accelerated depreciation in almost all cases.

Your business (any business) as long as it earned at least 28900 gross - can deduct up to 28,900 in year one on any vehicle with a GVWR over 6K.

Without this loophole the truck business would wither and die.

 

[Torrid]

What are you worried about - uncle sam (you and I ) pick up the bill for accelerated depreciation in almost all cases.

Your business (any business) as long as it earned at least 28900 gross - can deduct up to 28,900 in year one on any vehicle with a GVWR over 6K.

Without this loophole the truck business would wither and die.

I’d like to see that last line happen personally. I want all the subsidies gone and see what people actually buy when money means something.

 

[demarpaint]

I’d like to see that last line happen personally. I want all the subsidies gone and see what people actually buy when money means something.

I'd love to see it too, a lot of the nonsense would end.

 

[UncleDave]

I’d like to see that last line happen personally. I want all the subsidies gone and see what people actually buy when money means something.

Seeing it end would be great. Nothing like a level paying field to determine what the best selling vehicle would actually be.

Prob wont happen.

That said sensible improvement could be made - the ability to deduct a truck could be more closely tied with ones stated occupation or business.
Or one could pay a weight penalty on top of registration and miles - like an EV should so should a truck.

Right now it's a free for all (as long as you have a business) as well as a driver for the largest enabler for our Automakers.

I dont have a single friend in my nuclear circle that isnt sending at least part of their truck bill to the Uncle.

 

[Torrid]

Considering a median household income of just 75,000 a year I think we can only conclude they are producing the most profitable first as it is the enthusiasts and high income people that will be purchasing first, since production would not be able to produce all trim levels in sufficient quantities.
For the heck of it for the median income level (ish) with no money I entered a price of 75k, with 5k down (if that is possible) and loan of 70k for 8 years @6% = $919.90 a month plus insurance. 8 year loan = 18k in interest alone and total price with interest comes to $88,000 plus their $5000 deposit = $93,000
There are people that will do this as they do it right now. Im talking people with good credit but live pay check to pay check and move from auto loan to auto load most their lives. Proudly supporting the banking infrastructure in the country.

Anyway, of course many have the means to buy these vehicles by writing a check out of their checking account and why I am sure the auto makers will produce profitable vehicles for them first. Still selling to lower income people becomes profitable for the dealers selling financing.
I think then we also have a few real truck owners that will laugh at these vehicles at first like they are toys. But they are also buying these same type of ICE version.

Even with the example above I am being overly conservative many of these trucks cost way more than my example. Also Financing can be more but I had to use a number as sometimes dealers have incentives but I doubt they will on EVs for some time to come.

I would guess with the amount of expensive vehicles that I see that many are buying beyond their means. I don't mean just higher trim trucks which are prevalent in my area, but I see a crazy amount of Audi SQ5s and other luxury vehicles which surprise me in an area with a median income under $40k. I know when I made that I drove $15k cars(all but one were used purchases) and that seemed like a lot of money. I doubt that every one of these I see are driven by people with 6 figure incomes.

Not trying to brag in any way I promise, but my current two I put down enough to get the payment down to something I can make in a day of work for each car and at the same time a more expensive car depreciates that much faster. I work an industry that when the economy turns it can all go away. It's been really good for awhile and it does pay well, but I know better than to dig myself in like that. I know I make good money, but it doesn't mean I'm making $900 a day. It means my car payments are relatively small. It's why I have a GTI and a Model 3 and not the Audi RS3 and one of the ridiculous Teslas. I absolutely love cars, but they're all depreciating assets when they're daily driven and there are very few that aren't unless they're already rare and would be near impossible to replace or get repaired if damaged.

 

[UncleDave]

Good interview with the product manager.

Not at all surprising GM/ Chevy has de-committed to both the available models AND the price structure they previously announced.

It will be interesting to see if the blazer and equinox also drift upward based on this it seems the probability is high.

 

[ME_Andy]

Where are the Silverado EVs? It was supposed to be spring 2023

 

[E365]

Where are the Silverado EVs? It was supposed to be spring 2023

Who knows…. GM’s Ultium program is behind schedule for sure now. Commercial operators might have some Silverado EV WTs now (??). Rumors are Hummer and LYRIQs are being held-back for QC reasons. Figure out “issues” before mass production starts. Kinda feels like the same thing with the Silverado now. At some point they switched to commercial operator getting them first. Maybe let a small number of commercial customers get them first, get feedback and flaws, then start mass production.

GM Authority has reported they’ve built almost 6,000 Hummers in the first 5 month of 2023, but they only sold about 60 Same story with LYRIQ. Sitting in factory storage lots allegedly.

Also rumors (confirmed?) that the first Ultium Cells plant in Ohio was taking longer to ramp-up than expected.

On the plus side, GM’s total sales are through-the-roof so far in 2023. The #1 US Automaker now by a large margin. They don’t need to sell EVs right now. Hopefully they’re working on “getting it right” from the start.

 

[dlundblad]

The steelies are the only thing I like about it.