Lets cut the crap on electric cars. The big Western automakers are in a mess. And the Chinese are in a spot of bother too but still laughing.

Basically it's about supply, demand, most governments working to a wish-driven strategy, then displaying embarrassing hypocrisy and the time where the commies' not worrying about three or four-year election terms pays off.

Over the last two weeks the share prices of most automakers have been heading the same way as the Titanic. Ford, Tesla and Stellantis posted crook results and together with GM, Mercedes, BMW, Porsche and the others, were plumbing new lows.

Western governments, who of course would never subsidise their auto industries, saw EVs as a way to display their energy transformation credentials. "Electric vehicles may be the most subsidised product in America. Federal taxpayers wheel out $11,000 every time a new eligible electric vehicle is purchased."

The Australian car industry was killed off by a heap of complex factors including mining boom-induced exchange rates, a global oversupply of cars, ineffective subsidies, and the removal of tariff barriers.

Then there was the Musk effect best demonstrated in 2021 when Hertz bought 100,000 Teslas for $6.2bn. Of course as soon as the EVs turned up at Hertz, Musky slashed the price of new Teslas. So what did Hertz do? Sold the fleet at 50 per cent off adding to even more EVs in the market and even lower prices.

If you own a Nissan Leaf, say goodbye to your resale hopes. Australian prices won't be helped by Uber bringing second-hand Japanese EVs, Leafs for their drivers to use for as little as $124 per week.

How come China became the Henry Ford of EVs? China started investing in the EV supply chain in 2001. EV technology was a priority science research project in China's five-year plan. In the first three months of 2024, nearly 1.9 million electric cars were sold in China. That's up 35 per cent compared to sales in the first quarter of 2023.

There's a constant stream of new Chinese EVs being released in Australia. Our view is, if you want to be green, buy a hybrid until the all-EV market settles.

While you're waiting, head out to Pebble Beach next week for some custom-built definitely non-electric metal. Frontline cars will be launching their new wide-bodied MGB with a 280KW V8. Only 30 cars, 0 to 100km/h in 3.6 seconds and only $350k.

jc@jcp.com.au