Today's Chevrolet Bolt news means that while the number of EVs on the market is growing overall, there aren't many EVs out there, at present, that would be considered "affordable."
There are "affordable" EVs on the way, of course, but if you were shopping for an EV right now, most of your choices are a bit pricey.
For now, that hasn't seemed to be an issue -- enough people seem willing to pay for them. I suspect the recent overall market insanity and the fact that the average transaction price is quite high right now plays a part -- if you're willing to stretch for an ICE car, why not stretch for an EV? Especially if you don't need to buy gas?
But at some point, the market will likely normalize. And if we as a country are serious about increasing the market share of EVs -- and if the Biden admin's fuel-economy standards move forward as proposed -- there will need to be more affordable EVs available to consumers.
The question is, what counts as "affordable"? Are we going to use a traditional metric here and say something is "affordable" if it's $30K and under? Or is "affordable" something that's under the current ATP, or under $50K, or...?
Yes, this question could, in theory, apply to ICE and hybrids and PHEVs, but there are plenty of models in those categories that are unquestionably affordable. Also, it's only the EV segment that really needs affordability as one driver of future growth (charging infrastructure being another, of course).
What do you think?
Sound off below.
[Image: Chevrolet]
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via Autobuzz Today
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