this post was submitted on 28 Nov 2023
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Henry Ford designed the Model T to be a bare-bones vehicle affordable for the everyday person. Volkswagon designed the Beetle to be a bare-bones vehicle affordable for the everyday person.
The first car company to design an EV that's a bare-bones vehicle affordable for the everyday person will sell lots of them. Profit per car may be lower but perhaps we need to set the need for maximum profits aside on this particular issue?
My raises aren't even CLOSE to keeping up with inflation. Rather hard to splurge on a fancy EV with tons of high-tech nice-to-have features that are just going to break anyway. All I need to do is to get from point A to point B and have AC, heat and a half-decent stereo system.
Out of curiosity, how much would it cost for you to consider an EV affordable for the everyday person?
The Chevy Bolt has been around for years and can be purchased new for less than $30k. Same with the Nissan Leaf. That's a pretty attainable number for a lot of working adults, and that's assuming you buy brand new. Multiple 2020 Bolts are available near me for around $20k. I'm seeing Bolts that might be another year or two older as low as $15k
I'd argue that price isn't the thing keeping people away from EVs. You can buy a relatively inexpensive EV if you want to.
Not him and it may not be the only thing, but it's a main thing.
30k is a lot for a new car, and most EVs I've seen start at 30k.
You can buy a used ICE car you can get years out of for less than 10k. Financially savvy people know that the savings in gas will take years to recoup depending upon how often you drive the car.
Then there's depreciation because a used EV with limited range is practically worthless, replacing a battery in one can run up to 15k, and Chevys in general don't hold their value.
Now is price the only thing? No. I personally also am a little hesitant to buy one and the hidden costs of having to upgrade my electrical in the garage in order to effectively charge it, and I suspect others have similar concerns.
All that said my next vehicle will likely be an EV, and I really hope Honda gets its act together because if not I'll end up having to go with someone else.
I think what you're saying is really important to the overall discussion. The initial cost is only one factor when considering cost of ownership.
You might be able to buy an EV for about the same price as a similarly equipped gas-powered car. But instead of oil changes and mechanical upkeep of the engine, now you have a whole new set of systems to maintain and repair. There aren't a ton of repair shops out there yet for EVs. Even though there might be fewer mechanical problems overall with EVs, the cost and difficulty of getting a repair can be much higher.
Then there's the battery issue. A gas car engine will remain mostly the same in terms of mpg and overall power output throughout the life of the vehicle. Sure, there will be deterioration, but it could be much worse with batteries. I'd be somewhat hesitant to buy a used EV because it can be difficult to know what state the batteries are in or how much longer they will last.