Average Electric Vehicle Prices Plummet As Oversupply Concerns Grow
Average Electric Vehicle Prices Plummet As Oversupply Concerns Grow
Analyst predicts that increasing EV inventory and falling prices could have a positive impact on EV adoption in the long run.
The average transaction price of a Tesla has fallen by 19.5 percent over the last 12 months.
There's no oversupply. People just can't afford the asking price. It's overpriced and yet also feature stripped with an extra subscription.
That is still considered an over supply if the prices are too high for the market they are trying to sell into. They’ve reached saturation for the early adopters and tech enthusiasts and now the normies are saying not so fast on the high average selling prices. I think it’s wonderful and we get watching economic theories in action right before our very eyes.
Auto mfg execs are going to be crapping in their drawers when the realize they can’t keep selling massive vehicles for massive profits. It might get ugly folks.
You know it's funny, I've read that the new car market in the US is exclusively market towards upper middle class and above buyers who are child free couples in the 55+ age group.
Apparently everybody else in the country is supposed to buy a used car.
That kind of fucks the whole "Let's switch to EVs now" plan.
I desperately want a Corolla GR. I've called a ton of dealerships. Most tell me they can't get a hold of them. Others tell me it'll be a 15-20k markup. I've had some dealers basically end the conversation when I say I have a trade in and the rest in cash. They only seen to want to sell shit at a huge markup and financed for the kick backs from their banking partner.
I have money and a relatively easy selling used car (2018 WRX limited that's bone stock) and I can't get my hands on the product I want without paying an insane markup.
And nearly impossible to get serviced. The worst thing about doing personal auto claims was trying to find a shop that could fix the damn things.
Edit: Teslas, this specific to Teslas.
This is entirely scoped to Tesla who built a niche business on socially conscious high income buyers. And then their CEO goes through the most public and shitty midlife crisis. Showing publicly a persona so toxic that buyers of Teslas have completely turned off the brand.
Oh wow. Now they're only averaging 53k. What a bargain.
You want to move electric vehicles, cover segments that need them. While for me the perfect vehicle would be an electric Mazda5 (microvan), something around a Transit Connect would sell like hot cakes at the right price to commercial customers, just look at home many of those are running around as service vehicles And how many electric minivans could you sell? I see a lot of people saying we need inexpensive electric cars, which is true, but there are whole segments getting ignored, not just what I mentioned, but what about full sized vans? Sure, Ford offers one... With a 127 mile range, which might work in some industries, but there's a lot of potential customers where that's just an automatic fail.
There's also the brightdrop van, although GM just shut down the plant for a retooling.
However, I disagree with you and believing that the van segment is all that big of a market.
I was surprised to see how right you are, at least in the more commercial side like the Transit Connect. Out here in STL you can't swing a dead cat without hitting 10 of them, and yet Ford only sold about 25K this year... Did STL buy them all? That said, I do think that skipping an entire market segment is not helping things, especially a very visible market, contractors. Whether they need a van or a pickup, large or small, there's a ton of contractors out there, people interact with them every day, and yet there's been no attempt to make a vehicle for them. The Brightdrop you mentioned is a step van, far larger than most contractors need, that's a fleet type vehicle. Ford Lightning is pricey, and it seems like GM is trying to top that with the upcoming Silverado EV, and as to vans, there's zero, VW is bringing one here, but they won't be bringing the cargo version in.
Oh no, that's terrible. Electric vehicle prices are going down? This is catastrophic because nobody will be able to afford them!