No, electric vehicle sales aren’t dropping. Here’s what’s really going on | CNN Business
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Tesla’s slashing prices. Ford just cut the price of its Mustang Mach-E, too, plus it cut back production of its electric pickup. And General Motors is thinking about bringing back plug-in hybrids.

You’d be forgiven for thinking the American market for EVs is collapsing. But in the last quarter of 2023, EV sales were up 40% from the same quarter a year before, according to Cox Automotive. In fact, EV sales in the United States hit a record last year, topping 1 million for the first time.

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“Between $50,000 and $60,000 now we get Kia and we get Cadillac,” said Tyson Jominy, an industry analyst with J.D. Power, referring to the Kia EV9 and Cadillac Lyriq electric vehicles. “Those two don’t normally face each other.”

Besides being too expensive for the average buyer, selection is limited in terms of body style, said Corey Cantor, an industry analyst with Bloomberg New Energy Finance. The vast majority are relatively expensive SUVs, and there are few sedans or compact cars for customers who want something different.

  • LifeInMultipleChoice@lemmy.world
    4·
    9 months ago

    The new Volvo EX30 I was checking out earlier, MSRP is 35. I haven’t seen one around yet but the numbers look good, so I figure I’ll look to see what a used one costs in a couple years when I can replace my car. Figure if EVs keep coming down in price it would be nice. The Kia Nero Plug in Hybrid also is at that price. Volvo is 275 mile range, the hybrid Nero is 33. So really that would open most every drive I need to being full electric and having the ability to let it switch to gas for drives that are different. 33 miles off electric would cost me ~$1.74 after adding in 5% inefficiency on the charge. So that would. So that would save me about 40% compared to current gas prices if compared to a gas powered vehicle getting 33mpg.