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With cost of living pressures many are buying used cars which is why used cars prices are up.EV's really ought to be cheaper than they are but greed has taken over and as a result people notbuying them as fast as they thought they would.Some EV car companies have slashed their prices on their EV's like Hyundai IONIQ5/6 by $16Kfrom $81K to $65K. They could go far lower than that. I suspect we will start seeing car dealers panicand try and get rid of them at lower prices along with EV car suppliers otherwise they'll go out of business."
mmh - a few contradictions here.
- EVs are too expensive, yet when EV makers drop their prices it becomes a problem?
- second hand cars are expensive? Yet many people reported that second hand EVs are very cheap
IMO unfortunately that is the market dynamics in a fast changing market where advances in technology and increased volume makes manufacturing more efficient.
Apple has a brilliant solution for that - even though there are very capable smartphones on the market for less than $200, Apple keep on increasing their prices each year to well over $1000! They keep on adding features to their phones - blood monitor, exercise, huge range of connectivity, and won't be long before they have 13 cameras for every situation (until the back panel fills up
).
(Mind you - I was really cranky with Apple when around about 2000 I bought and all-in-one iMac (G3) for about a quarter of the price of a car. Within a couple of weeks they released a new model, and dropped the price of my model by a substantial amount. I went back to the dealer and asked if he would help - no. Since then I have not purchased an Apple product.)
Car makers are also adding features, but except for driver assist they are not as important. I suppose a major attraction of Tesla is its driver assist features leading to self driving.
An acquaintance had his Tesla parked in an apartment block - during the night vandals broke into the common garage and one walked around the Tesla - unluckily for him the Tesla recorded his visit and the police nabbed him. But I don't think that it is features like this that allow people to accept higher prices.
Tesla is far more advanced than the other automakers (don't know where BYD stands on this) because they started with a new premise and their car is fundamentally technology driven, via software. (I remember reading that originally they had considered using a joystick to control the car but rejected it because it is too much of a dramatic change for people - but I also heard that in new models the steering wheel will not be connected mechanically to the steering). So Tesla is in the position that they can upgrade their cars with few mechanical changes - most changes being in the software and addition of sensors and cameras for everything. With AI recognising images, the cameras will also act like sensors.
So, back to your comments - the landscape is changing very quickly and new cars become obsolete very quickly, hence new models force down the price of old models. This happens in every fast-changing industry. Compare the price of a 65inch 4K TV now with just a few years ago. Try to sell one second hand.
Tesla needs competition, but the traditional car makers are very far behind and are just starting to wake up - it seems BYD is the only real competitor. I suspect the reason why many traditional car makers are delaying their EV plans is because they finally realised they need to redesign their cars from scratch - instead of just bolting on a motor and batteries to their old designs (yes an exaggeration - but the point is still valid).
When competition catches up we will see prices stabilise, and a great collection of wonderful EVs to choose from.
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