The news on EV issues over the last two weeks has been pretty negative, with several prominent car executives admitting that sales haven’t been there. Cost is a huge part of that, with the average EV cost coming in at 54k (down from 65k in 2022), well above what most families are willing to spend. EV first adopters who can afford it leaped, leaving us with an oversupply tied to a skeptical consumer base wondering why they should pay more for an EV.
EVs are the future, but it’s hard to see how the offer is compelling to the everyday customer when the charging infrastructure does not exist, urban environments haven’t adapted, and range anxiety continues to be a real problem. Change is coming, but much more investment in our infrastructure must happen first.
The second issue is cost. These cars are way too expensive, and sadly, the focus continues to move from affordable everyday EVS to massive luxury vehicles with giant price tags that inflation has not helped.