Military-inspired civilian vehicles, Tesla beating quarterly estimates, and early signs of EV market maturation — here’s what’s worth knowing from this week.
Rezvani, the American boutique automaker known for its armored tactical SUVs, has revealed the Vengeance — a new model that pushes the company’s aesthetic further into Humvee territory with angular bodywork and military vehicle inspiration. Rezvani’s products exist at a particular intersection of survivalist practicality and automotive theater, and the Vengeance appears to be targeting buyers who want something that communicates self-sufficiency and capability in a package that’s also genuinely imposing. The price point puts it firmly in the ultra-premium segment, which limits the audience but ensures the margins are comfortable.
Tesla’s Q4 2022 results came in better than analysts expected despite the delivery miss that was widely covered earlier in January. Revenue held up better than the lower delivery numbers suggested because average selling prices, while declining, remained high enough to maintain strong per-vehicle revenue. Musk’s bullish commentary on the earnings call about 2023 delivery targets — ambitious given the current trajectory — generated predictable skepticism but also served its usual function of anchoring expectations around his projections rather than analyst models.
The EV market contraction signal continues to build. Multiple data sources this week showed slowing growth rates in EV sales in European markets, which were expected to show robust adoption ahead of ban timelines. The mix of economic headwinds, elevated electricity prices, and a buyer population that’s moving beyond the early adopter cohort seems to be creating a temporary plateau. Whether it’s temporary is the central question for automakers that have committed enormous capital to electrification timelines.
Classic car auction season is showing healthy results for the right cars. The Mecum Kissimmee auction produced strong results in the muscle car and collector car categories, with well-documented, matching-numbers examples bringing prices that suggest collector demand is holding even as the speculative froth from the pandemic bubble period fades. The differentiation between quality and mediocrity in auction results is becoming more pronounced, which is healthy for the market long-term.