Do you know how modern accounting works? You can amortize and depreciate big up front investments over a time line of your own choosing. So yeah - big upfront costs to move to a new manufacturing process depreciated and amortized over a short amount of time combined with a weak ass product and minimal sales and you get those big kind of losses. It’s not rocket science.

Volvo is now a Chinese company with a European backstory. Not interested in jumping in bed with a Chinese company for such a major purchase at this point.

Let’s recap. Gas prices shoot up causing a huge interest in EVs. Limited supply so dealers mark them up for big profits and small sales numbers. Major car dealers invest $0 in the charging infrastructure and now are producing cars with an outdated charging standard for the US. Sales slow as interest rates shoot through the roof and people are waiting for cars they can actually charge on a road trip which are promised for 12-24 months away. Dealers cry that the current slowdown proves there is no demand for EVs. Pathetic business people latching on to the status quo in a pathetic highly polluting business.

The first generation ID4s are seen to be more problematic than current generation ID4s so there’s an additional discount for reliability concerns on these older models in the used market.