Are you ready to switch to an EV? Here’s
why you may find yourself priced out of
the market
MarketWatch,
by
Claudia Assis
Original Article
Posted By: NorthernDog,
9/17/2022 9:26:29 AM
It wasn’t supposed to be this way. This year likely will be the first that electric-vehicle battery costs will go up, rather than continuing the steady decline that they’ve been on for more than a decade. And EV buyers are seeing the result: several auto makers, from newcomers such as Rivian Automotive Inc. to established players such as Tesla Inc. have raised their EV prices. The move has affected all models, from mass-market electric sedans to coveted muscle cars with deep order books and even Ford Motor Co.’s EV version of the F-150 pickup truck, the vehicle that has reigned
Reply 1 - Posted by:
Californian 9/17/2022 9:35:06 AM (No. 1279946)
All prices on everything are up.
As far as who can afford it? Most EVs are sold as high end luxury vehicles. The same people who can buy a Mercedes or BMW or whatever can afford an EV. Right now EV are about 2% of cars sold in the US. If EVs go away entirely the economy is not going to collapse. They're not important. No more so than a high end Mercedes is important.
13 people like this.
Reply 2 - Posted by:
franq 9/17/2022 9:49:52 AM (No. 1279965)
Royt. "Congress announced $7500 tax credit for EVs."
"Ford increases price of F150 Lightning and Mustang Mach-E by $8500."
10 people like this.
Reply 3 - Posted by:
JackBurton 9/17/2022 9:50:24 AM (No. 1279966)
I like the FB meme with the little Geico lizard saying...
"I saved $26,000 on a battery by keeping my gas powered car."
20 people like this.
Reply 4 - Posted by:
Mizz Fixxit 9/17/2022 10:18:13 AM (No. 1279991)
According to this article, Edmunds.com calculation of the average EV cost does not include Teslas which are not sold through dealers. With Tesla sales factored, Edmunds estimates the average EV cost is $65,000. I entered the following numbers into a car payment calculator —- $65,000 sticker price, $15,000 trade in, $5,000 down payment and a 5 year loan. The estimated monthly payment is $750.00. Plus taxes and license.
5 people like this.
Reply 5 - Posted by:
DVC 9/17/2022 10:18:25 AM (No. 1279992)
Never.
12 people like this.
Reply 6 - Posted by:
zephyrgirl 9/17/2022 10:30:06 AM (No. 1280006)
Car companies have figured out that EVs are a fashion statement for people who can afford to buy an expensive car exclusively for puttering around town while keeping their gasoline or diesel cars for when they need reliable transportation and long-distance trips. As a result, you're seeing more "luxury" EVs, and fewer bare bones models.
7 people like this.
Reply 7 - Posted by:
Rubinski 9/17/2022 10:45:21 AM (No. 1280031)
The point is to price-out people of owning private transportation. This is the goal. You will not own your own vehicle.
10 people like this.
Reply 8 - Posted by:
columba 9/17/2022 10:56:56 AM (No. 1280056)
I drive to Church. There is no bus.
My son drives to work. There is no bus.
My wife drives to the Store. There is no bus.
My daughter drives to work. There is no bus.
Most laws circle around the East Coast, but most people do not live anwhere near there.
7 people like this.
Reply 9 - Posted by:
Dipi 9/17/2022 11:05:08 AM (No. 1280069)
I will never drive an electric vehicle; even if it was given to me.
11 people like this.
Reply 10 - Posted by:
hershey 9/17/2022 11:14:54 AM (No. 1280077)
People are having a hard time affording 4.00 a gallon gas and those left-wing tree-hugging eco-weenies want us to spend that kind of money for an EV that will probably need a $15000 replacement battery in 4 or 5 years? All in the name of non existant climate change or whatever pop name they have stuck on it lately....
8 people like this.
Reply 11 - Posted by:
FleetUSA 9/17/2022 11:18:25 AM (No. 1280086)
Here's a good article to read about EV's:
https://www.howtogeek.com/832974/why-you-should-buy-a-hybrid-instead-of-an-electric-car/
2 people like this.
Reply 12 - Posted by:
earlybird 9/17/2022 11:26:16 AM (No. 1280097)
No.
5 people like this.
Reply 13 - Posted by:
mc squared 9/17/2022 12:33:42 PM (No. 1280160)
ROTFLOL. Priced out? If it were to be my only vehicle I wouldn't take one for free.
3 people like this.
Reply 14 - Posted by:
Ruhn 9/17/2022 1:24:52 PM (No. 1280196)
EV's are an idea who's time has gone. The concept is antiquated, going back at least to the early '70s and fueled (pardon the pun) from the gas crunch then. Although there have been advances in the technology in the past 50 years, EV still inherently suffers from the same fatal flaws: finite shelf life of the batteries themselves, VERY expensive replacements; finite, high-demand, low density precious metals required; manufacture almost exclusively in China; additional power load requirements to recharge on an already burdened power grid; and no developed robust local and national infrastructure to support.
Let the market develop new technologies other than EV that are more effective, cheaper and more reliable to replace the internal combustion engine and the market and the solution will present itself. In the meantime, drill baby, drill.
4 people like this.
Reply 15 - Posted by:
Axeman 9/17/2022 1:30:33 PM (No. 1280198)
Comparable price to an average 3/4 ton diesel pickup. The pickup would be much more useful.
A well appointed Audi Q7 would be more to my taste than a rechargeable sportscar. If I were stuck in a confined environment with little freedom I may consider a rechargeable car. But for me now, they are of little practical value.
I do think that as company errand and delivery vehicles, like auto parts and airport shuttles, rechargeables may be perfect.
2 people like this.
Reply 16 - Posted by:
snowoutlaw 9/17/2022 2:09:46 PM (No. 1280239)
Another thing never mentioned when talking about prices of EV is gas cars have a value as a used car, you can sell it and get back a lot of the purchase price. EV are almost worthless after a few years as their batteries wear out and hold less and less charge. Replacing the battery is most of the value of a used EV, you should be able to buy a used EV for next to nothing, just like a gas car with no engine.
2 people like this.
Before the most recent increase in used car prices, we purchased a CarMax used SUV for $15,000. It had 25,000 miles on it, and we purchased an extra warranty for 125,000 miles. The exact same SUV, with now 50,000 miles on it, is $5,000 more at CarMax. They are still a bargain compared to any EV. We rent an apartment, and cannot just purchase the EV charger and install it whereever we want. (although perhaps we can follow the lady who just drove up and plugged into a Tesla charger at a home. She thought she was entitled to it, and when the actual home owner began video recording her, she was fit to be tied.)
PS An extra warranty at CarMax is well worth it. They cover so much of the car that they list what they do not cover, it is a shorter list.
3 people like this.
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Comments:
Average EV price is $62,000. How many people can afford that? The auto industry is going to crash and burn.