Talking further on the slowing worldwide in electric car take up. The car industry
here now sitting on considerable stock levels of electric models which will no
doubt lead to lower prices. I mentioned earlier MG has just dropped prices on its
three model ZS EV SUV for the second time – in July dropping $1 to $3,000
depending on model and this month a further $1,000 to $6,000. A car industry
insider told me this week there is mounting concern at the growing stock levels
of electric cars – the continued arrival of newer models with more features and
longer range has seen established models suffer. Also, the latest interest rate
hike is expected to further dampen car sales which had already stalled – the
recent buoyant industry figures the result of vehicles finally delivered after being
ordered and sold up to 18 months ago.

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