RV_ Posted April 15 Report Share Posted April 15 (edited) Excerpt: "The coronavirus pandemic saw a virtually unprecedented spike in the price of vehicles. As chip shortages hobbled the industry, automakers rationed semiconductors, installing them mainly in their most profitable, and most expensive, models. Millions of affordable vehicles, the ones accessible to most new car buyers, never got built. That drove up the median price of new vehicles in the United States from around $38,000 before the pandemic to a record $49,000 or so this February, according to Cox Automotive. With electric vehicles, the pain was even more acute — if you could find one. Carol McConkey works on a Chevy Bolt EUV on the battery install line at Orion Assembly in Lake Orion, Mich., in 2021. (Nic Antaya for The Washington Post) In February, the average EV price soared to more than $58,000, according to Kelley Blue Book, roughly the annual income of the median U.S. worker. Dealers have been able to charge well over the sticker price as buyers have lost the ability to negotiate. “If someone hasn’t been in the market, they’ll be really shocked by how much a vehicle costs,” says Mark Wakefield, an automotive specialist at the global consulting firm AlixPartners. The limited supply of EVs is colliding with unexpected demand. Despite inventories at a fraction of their pre-pandemic levels, EV sales are outperforming even the more optimistic projections of a few years ago. In January 2022, EVs represented just 4.3 percent of new sales. This January, the share was more than 7 percent. “EVs are still hot enough they’re essentially sold out for the rest of the year,” says Ivan Drury, who analyzes the automotive market for Edmunds. But even with vehicle prices near record highs, better deals may soon be at hand. Tesla is slashing prices, prompting the rest of the EV industry to follow suit. New federal tax subsidies are coming online, though which vehicles qualify is a moving target. And automakers are releasing a fleet of new all-electric models over the coming months. What’s a prospective EV buyer to do: Buy now or wait? There’s no right answer, but the decision boils down to a few other questions: How much can you spend? What type of vehicle do you need? Do you (or your EV) qualify for federal incentives? Would you buy used or lease? (Note: The below topics are answered in the original article linked below) Here are the key questions for an EV shopper. Are EV prices coming back down? Should I wait for the new models? Is revolutionary EV technology on the way? How do I take advantage of all the EV incentives? To help you out, I’ve added a decision tree below, produced by Energy Innovation, to tell if you and your vehicle qualify for federal incentives.Do you qualify for the full federal incentive of $7,500? (Energy Innovation) Should I lease an EV? Should I buy a used EV? Source: https://www.washingtonpost.com/climate-environment/2023/04/11/electric-vehicle-buying-guide/?utm_campaign=wp_news_alert_revere_trending_now&utm_medium=email&utm_source=alert&location=alert I just hope one comes out, any brand, not just Tesla, that has perfected full self driving so I can then just use it as my own paid for taxi without the driver or fees. ROI unimportant as it would allow me to drive it until I could not drive anymore and then just go out and tell it where I want to go. As long as I could walk or Edited April 15 by RV_ Quote Link to comment Share on other sites More sharing options...
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