Right. In 2017 I had to buy a car and decided to go new. For $20k I got a hatchback that serves all my needs, even as a fwd vehicle. There isn’t a single EV on the market that comes close to that price, let alone in that form factor.
Edit: I should mention that this sub-compact vehicle has 150hp, 4 doors, and seatbelts for 5 (including driver). It’s an excellent family vehicle that’s very safe and would be a great learner’s car in the future. It’s even mechanically simple and easy to repair. If I could just have this exact car in an EV form that didn’t cost 2.5x as much, I would be happy to upgrade.
The upfront cost is definitely higher but I think it’s possible to price an entry level EV that is perhaps just slightly more expensive than an entry level ICE vehicle but is cost effective when TCO is taken into account. At least that’s the hope.
Yeah but they’re not priced slightly higher, they’re priced exponentially higher.
I can’t afford a Tesla, even if it’d save me money on gas. It may be cheaper to own with a TCO calculation but I was able to purchase my vehicle outright. I would have to take out a loan and do financing if I were to want to purchase an EV. I may pay more overall for the life of the car in gasoline, but ultimately that is an expense that’s amortized over time, and doesn’t have an interest rate attached to it.
I don’t like leasing or financing. I find it to be a waste of money. I would rather generally wait and save up than amortize a cost with an interest rate. Canada’s interest rates are incredibly high right now due to recessive market forces.
We are financially lucky enough to have been able to buy a model 3 in 2018, and we chose to do so because we wanted to vote with our wallet and express to these auto companies that we value green(er) tech and want it to continue. But we also thought that by signaling that, auto companies would work to make that possible for people who are not as financially lucky as we are. Oops, we forgot we live in a capitalist hellscape.
That’s always been my problem with EVs is that they just cost too much money.
If I could have gotten an equivalent electric car to my Mazda 3 for the same price I would have.
Right. In 2017 I had to buy a car and decided to go new. For $20k I got a hatchback that serves all my needs, even as a fwd vehicle. There isn’t a single EV on the market that comes close to that price, let alone in that form factor.
Edit: I should mention that this sub-compact vehicle has 150hp, 4 doors, and seatbelts for 5 (including driver). It’s an excellent family vehicle that’s very safe and would be a great learner’s car in the future. It’s even mechanically simple and easy to repair. If I could just have this exact car in an EV form that didn’t cost 2.5x as much, I would be happy to upgrade.
Love me my hot hatch.
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The upfront cost is definitely higher but I think it’s possible to price an entry level EV that is perhaps just slightly more expensive than an entry level ICE vehicle but is cost effective when TCO is taken into account. At least that’s the hope.
Yeah but they’re not priced slightly higher, they’re priced exponentially higher.
I can’t afford a Tesla, even if it’d save me money on gas. It may be cheaper to own with a TCO calculation but I was able to purchase my vehicle outright. I would have to take out a loan and do financing if I were to want to purchase an EV. I may pay more overall for the life of the car in gasoline, but ultimately that is an expense that’s amortized over time, and doesn’t have an interest rate attached to it.
I don’t like leasing or financing. I find it to be a waste of money. I would rather generally wait and save up than amortize a cost with an interest rate. Canada’s interest rates are incredibly high right now due to recessive market forces.
I agree the pricing (and kinds of entry level models) are not yet available. But that’s the dream!
We are financially lucky enough to have been able to buy a model 3 in 2018, and we chose to do so because we wanted to vote with our wallet and express to these auto companies that we value green(er) tech and want it to continue. But we also thought that by signaling that, auto companies would work to make that possible for people who are not as financially lucky as we are. Oops, we forgot we live in a capitalist hellscape.