WR1 General Discussion, page-25619

The recent decline in EV sales and perhaps the cause of lithium price drops could well be linked to this, this is from an article from finder.com.au and how much savings different age groups have, the data was collected May-June 2023 for Aussies.

"Finder's Consumer Sentiment Tracker data for May - June 2023 shows that on average, Australians have $31,179 in cash savings."

Here's how much money people in the following age groups have in savings on average:

Aged over 61: $54,196

Aged 42-61: $43,956

Aged 27-41: $16,072

Aged 18-26: $9,490"

https://www.finder.com.au/how-much-should-i-have-in-savings

And some my thoughts on this.

You will notice the average 18-26 year old and 27-41 year old cannot afford an EV outright in Australia, and they would be struggling to even be able to afford to replace a battery, and overall most average Australians cannot afford one, and the average 42-61 would be spending all their savings on the cheapest basic model EVs and we are in a 1st world country. So how do we fix this problem to transition, that's a question for the governments around the world.

Only really an average baby boomer can afford one with a bit of cash left.

I expect the problem is worse in the US and other countries, so this is what I believe is the real roadblock.

Of course they could get a loan, but most would rather get a home loan first, get a home loan and there is no extra money for an EV loan really for the average Australian. Does this mean people have to put of getting a first home to get an EV?

So there really needs to be real solutions for whole populations to transition to EV and the answer is not jacking up petrol and diesel prices otherwise people will just simply choose not to drive, the governments around the world need solutions for this, if they really want to transition as quick as they say.

Just my opinion on the current situation, so don't take it too seriously.