Post 2#

Context

For the past seven months I have been researching the recent trends in cars specifically in the difference between Gas and EV cars. My two main car brands that I will be specifying my research on are Tesla Inc. and GM (General Motors). In the past 5 years [2018-Present (2023)], General Motors and Tesla have been competing with each other becuase as people have started to invest in EV cars, gas car manufacturers have not increased thier Gross Profit per Quarter year. Contrasting from GM, Tesla over the past 5 years has had about a 950% in gross profit.

Gap

After over a month of data collection, there is one particular thing I still have not found. That would be what gas car manufacturers are doing to keep a competition with EV vehicles.

During my data collection period, I found lots of reasearch based on EV and Gas cars' growth over the last 20 years. I also narrowed it down to the last 5 years to make it more relevant. I am connecting my growth data with what the differences between the 2 types of cars are. (Other then being battery and gas powered).

Process

Since 2018, Electric manufacturers have had major growth and they are still increasing at a very high rate. Above is a graph that I came upon including one major gas manufacturer which is General Motors. General Motors includes car brands such as, Buick, Cadillac, Chevrolet, and GMC. The graph also includes one major EV manufacturer which is Tesla. As you can see, Tesla has increased substantially in gross profit and and at one point right around quarter 3 of the year 2022, Tesla surpassed GM motors.

Why are people purchasing so many Tesla models?

There are so many reasons of why people have started to invest in Tesla. The main reason being is that Tesla is completely Electric and gas prices of risen quite a bit in the past years. In 2010, gas prices were an average of 2.79$ per gallon and recently in 2022, gas prices were an average of 4.67$.

Progress

After determining the main reason why people are buying electric vehicles, this leaves us with one last question- How are gas car manufacturers retaliating towards EV manufacturers to maintain a competition with them? My plan to answer that question is to combine two peices of data.

The first piece being the recent trends in the past 5 years of both types of vehicles, gas and battery.

The second piece is what gas car manufacturers have added and changed on their models to make them appealing to the new demand in the market.

Using these two pieces, I will determine how gas cars keep evolving. Today there are over 60 major gas car brands and it is essential for each brand to appeal to consumers otherwise it will end up tanking in gross profit. This then results in bankruptcy

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