"The $20,000-vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market," says analyst.
Posts published in “EVs”
The polarizing design and premium pricing initially captured attention, but competition and macroeconomic headwinds make it difficult to maintain sales levels.
As EV adoption grows, many shops are still in the early stages of readiness, which is an opportunity for those willing to invest in EV training and tools.
Starting Nov. 3, rebates will increase from $6,000 to $9,000 for new EV purchases and leases and $4,000 to $6,000 for used EV purchases and leases.
See 10 states where it is significantly more to insure EVs, and 5 states where it's least to insure compared to gas-powered cars — and why.
Contributing factors include depreciation, lower finance charges, reduced fuel prices, and a shift toward more affordable vehicle options.
This session will deliver a comprehensive look at the state of the U.S. EV market including sales and VIO, vehicle type adoption trends, state-by-state market analysis and more.
