Car Sales Are Seen Dropping 16% In Q1 2022 As Inventory Shortages Hamper Growth And Economy Limits Buying, Setting The Stage For Greater Demand For Electric Vehicles; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees EV Charging Station Growth As Gas Powered Cars Stumble

Posted April 4, 2022

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Analysts say limited inventory and the economy may cut car sales as much as 16% in Q1 2022, That could lead to greater demand for electric vehicles — especially as gasoline prices remain at high levels above $4-6 per gallon. To EV Charging Station installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo., subsidiary, the trend is positive for electric vehicles and a supporting network of electric charging stations.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Car Sales Are Seen Dropping 16% In Q1 2022 As Inventory Shortages Hamper Growth And Economy Limits Buying, Setting The Stage For Greater Demand For Electric Vehicles; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees EV Charging Station Growth As Gas Powered Cars Stumble

Both General Motors NYSE: GM) and Toyota suffered big sales drops in the final quarter of 2021. GM’s sales dropped 20% and Toyota’s fell 15%. Ford (NYSE: F) is expected to release its financials today.

Add up the low inventory of gas cars, spiraling high gasoline high prices and the need for lease holders to shop for new cars — or buy the cars they currently lease — and you have a formula for ramped up demand for cars such as Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN) and other electric models.

Semiconductor shortages have cut inventory levels at dealer parking lots. Meanwhile, Tesla (NASDAQ: TSLA) is having a difficult time keeping up with demand. Buyers are waiting 10 months or longer for deliveries, to the point where the electric car OEM maker is focusing in 2022 on making deliveries and catching up — and not debuting new models this year, Elon Musk, CEO, says.

On conventional lots of gas cars, normally just 20% of all new vehicles are sold within the first week. Now, that number has doubled to 40%. That means that prices are at full list price — or even higher — making electric cars seem even more attractive to confused consumers.

Meanwhile, union organizers see which way the sales wind is blowing and are trying to get into — without success — electric car firms such as Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN), Lucid Group (NASDAQ: LCID) and others.

Some analysts say electric vehicles will account for some 10% of OEM vehicles sales in the US by 2025 — compared to only 4% today — as Solar Integrated Roofing Corp. (OTC PINK: SIRC) and other installers see electric cars and EV Charging Stations growing exponentially.

UAW is trying to unionize the electric car industry, but is making little headway. A tailwind is that the Biden Administration is trying to help — making tax rebates for buyers and grants to OEM electric car builders only available to American-based and unionized plants. Elon Musk, founder and CEO of Tesla (NASDAQ: TSLA), has dismissed the Biden union plant strategy. In fact, Musk has still not even talked with UAW head Ray Curry, according to The Wall Street Journal.

Predictions that the electric car industry will gain share in sales to about 10% of the U.S. car population by 2025 in a new report is significant — because electric cars account for only about 4% of the US car population today. If the report is right, it would show considerable market share growth for electric vehicles.

SIRC, requesting FINRA approval for a corporate name change to SolarEV, is refocused and committed to the alternative energy electric car industry and accompanying EV Charging Station business. SIRC’s subsidiary PLEMCo., currently is involved in installing EV Charging Stations.

Despite the failed UAW efforts to organize, here are some positives showing why installers like SIRC of EV Charging Stations are so positive about the exponential growth of electric car/trucks:

The U.S. federal government is committed to growing electric cars from 4% of OEM market share today to some 50%. It will spend money to do this on tax rebates for EV car purchasers, grants to EV car companies for new plants and union facilities and a nationwide network of EV Charging Stations.
Tesla (NASDAQ: TSLA) has shown that making electric vehicles and marketing them can be done at a profit. It makes EVs in China, California, Austin, Texas and now Germany.
Wall Street investors who missed the Tesla (NASDAQ: TSLA) gold mine, now want in. That’s a driving reason why the recent IPO for Rivian (NASDAQ: RIVN) was so successful. At a $70 billion valuation, Rivian hasn’t shipped many cars to date, but pre-orders are topping their ability to produce.
Enter Amazon, which has already pre-ordered some additional 100,000 Rivian electric delivery vans.
Now enter the usual suspects: Ford (NYSE: F), General Motors (NYSE: GM) Toyota (NYSE: TM), Nissan and all the European brands,such as BMW, Volkswagen, Mercedes, and others. Even Toyota — the slowest to join electric car believers — is now sold.
OEM electric car makers are increasingly partnering with EV Charging Station installers. This is a significant opportunity for EV Charging Station companies to brand with OEM car makers.
Research studies cannot keep up with the growth. Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights.

EV Charging Station installers, like SIRC’s PLEMCo., see the opportunities ahead. As a result, they are bidding for government RFP contracts. They may be slow in coming, but they are large. SIRC is also an applicant for some $80 million in new government federal dollars to help build more EV Charging Stations.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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Nitin Harlalka

Nitin Harlalka is a Stock Market Press contributor who has covered financial market for close a decade. With a graduate degree in Economics, Nitin has been a freelance stock market and business journalist for a range of publications. Most recently, he has covered emerging industries such as cannabis and blockchain.