Electric vehicles Energy

Manufacturers believe that cheap Electric Vehicles are critical to more sales, and they are working on the same

Automakers have had one big responsibility, and it is convincing car buyers that they have every reason to give up gas-powered vehicles and settle for their counterparts, electric vehicles. However, it hasn’t proven easy to convince the Americans for several reasons. One is the shortcoming of the range anxiety, especially since there are no charging stations to use if the cars run out of power. There is also the issue of a lack of ample information about electric vehicles. People know very little about this new concept, mainly how it works. Another problematic issue is how expensive it is to acquire an electric car. With all the problems, it becomes tough to convince many people to go down that route.

In 2012, Tesla entered the EV market with its Model S sedan, and ever since then, it has been a giant in the industry. As a matter of fact, it has been the leading carmaker as far as electric vehicle manufacturers are concerned. Interestingly, not even the entrance into the market of Hyundai, Audi, Jaguar, Nissan, and General Motors defeated Tesla. Out of the top 5 bestselling electric vehicles in the United States, Tesla has clinched four positions. According to CarExpert website executive publisher Karl Brauer, there is no electric vehicle company that Tesla comes second to, no doubt.

Interestingly, Tesla leads despite selling its electric vehicles at high prices. Model 3, a rear-wheel-drive base model, goes for $36,990. That’s a cheap alternative since the Model S goes for a high cost of $134,490. The price is justified given that it is powerful and can accelerate from 0 to 60 mph within 1.99 seconds.

That has made other manufacturers think about how they could increase their market share. They have settled for the idea of offering buyers electric vehicles that are relatively cheap. They hope that the move would see them make more sales hence gaining a larger market share. As far as Edmunds is concerned, the average sale of an electric vehicle stood at $54, 206 whereas it was at $39,251 with other cars included in 2020. It had gone up by 38.1% compared to the previous year.

An excellent example of a cheap electric vehicle is the Chevrolet Bolt EV from GM, which will go for $31 995. Going by the price, it is less expensive than the 2021 model by $5,000. Not even such a decline in price makes it the most affordable electric vehicle, though. After all, the Marque MINI Cooper from Britain goes for $29,995 only.