Want EV? You may have to wait – Meczyki.Net

Rising demand for this year’s most anticipated electric cars is breaking the order book and lengthening the waiting list.

The $60,000 Cadillac Lyriq SUV is the latest model to close its 2023 order book. The automaker said it has moved the Lyrica’s waiting list to the 2024 model, which is still open for orders.

But rising supply chain costs mean customers of Lyriq and other EVs could end up paying hundreds or thousands of dollars more for a vehicle that arrives months later than expected. This is especially true for companies that have had to reduce their 2022 production forecasts due to component shortages.

This is a scenario in companies ranging from Tesla to Rivian to Ford. Longer waiting lists than expected — and waiting times due to the state of the automotive supply chain this year — have created a backlog of customers disappointed by the delay.

Reddit is rife with comments from disgruntled buyers whose estimated wait times have been extended or postponed for months.

One Rivian R1S customer said, “I pre-ordered mine last October and my expected delivery date was the first half of ’23. And that was before Rivian nearly halved its expected production numbers due to supply chain constraints. Had done it. “

Tesla CEO Elon Musk issued a warning on rising prices and delivery times during the automaker’s first-quarter 2022 earnings call in April.

“It may seem like we’re being unreasonable about increasing the prices of our vehicles, given that we had record profits this quarter,” Musk said. “But the waiting lists for vehicles are quite long, and some of the vehicles that people will order on the waiting list will extend to next year.”

Demand for the Ford F-150 Lightning is so strong that Ford had to publicly address its resale policy, eventually leaving the decision to the dealer. The automaker has already doubled its planned annual production to 150,000 vehicles.

Meanwhile, fluctuating prices and availability of raw materials and other commodities are forcing some companies to make fewer vehicles than planned. Lucid lowered its 2022 production outlook from 12,000 to 14,000 units, down from its original plan to manufacture 20,000 vehicles. The Rivian may also fall below the 20,000 units estimated at the beginning of the year.