Good News & Bad News, page-9715

2nd hand ICE vehicles have to be mentioned and Cuba is a straw man argument, Australia has never had an embargo on new cars placed on it. The average age of cars Australian roads is 10 years. So new to 20+ year old VT Commodores and AU Falcons. Why? Affordability. 50% of households survive pay week to pay week and don't have $1000 aside for an emergency. Even with subsidies there is demand for cars under $5k in the market. The market has range anxiety concerns with EV's. There is also concerns on how long a battery pack lasts and replacement costs. Subsidised EV's will have massive depreciation as there will be limited market for them for the above reasons. Affordability, range anxiety and battery replacement costs. Many don't have thousands of dollars spare to buy a battery pack. They will more likely have a weekly or monthly payment ability so will borrow. They will borrow to get the latest ICE powered vehicle they can afford. With many countries not banning ICE vehicles until mid to late 2030's and even 2040 add to that an average age of 10 years there is potentially 30 more years of ICE vehicle usage. I hold many PLS shares and a subsidy would work to my financial benefit but an accelerated EV take up would have too many negatives. We do however agree the government is incapable of implementing a workable plan. Part of that is forward negative effects such a plan will bring, the majority is because by and large Government are hopeless at implementing anything that is to have a long term impact. Their thinking is short term, current term in power and maybe the next election then after that who cares, we probably won't be in power and it is the parties fault/problem if it goes pear shaped.