Shulou(Shulou.com)11/24 Report--

January 3 news, for American car owners, electric cars will become cheaper in 2023. This is largely because a large number of lower-priced electric cars will be put on the market, while new government subsidies will make more people affordable to buy higher-priced models.

Despite supply chain problems and inflation, electric vehicles nearly doubled their share of the U. S. car market in 2022. In the first 10 months of 2022, for example, electric vehicles accounted for 5.3% of all car sales in the United States, compared with 2.9% in the same period last year. The number of new electric vehicles registered in the US reached 604638, an increase of more than 60 per cent over the same period last year, according to Experian, an information services company. Analysts such as Adam Jonas at Morgan Stanley expect electric vehicles to have an 11 per cent market share by 2025.

Most of the new electric cars on sale are worth more than $50, 000, and there is still plenty of room for growth in this high-end market. "there is still a lot of room for growth in the high-end electric car market with no less than $30,000 for at least the next decade to meet portfolio targets," said Bill Newman, head of SAP's North American car business.

However, in addition to expanding the electric vehicle charging network and increasing incentives, the easiest way to increase sales of electric vehicles is to provide more price-friendly electric vehicles. The reason is simple. Cars.com 's year-end buyer survey found that price is the biggest concern for both male and female consumers. According to the car sales website, 61% of men and 57% of women are most concerned about initial costs.

But by 2023, people are likely to buy cheaper electric cars in the United States for the following reasons:

1. With increased competition from established car companies, it is safe to say that there are already cheaper electric cars on the market. The Chevrolet Bolt EV is back on the market after a massive battery recall, the Nissan Leaf has been on the market for years, and the Hyundai Kona Electric has been selling well since 2021, all of which start at about $30,000.

However, Kona Electric and Nissan Leaf have smaller batteries and limited battery life. Therefore, in the range of less than $30,000 and 400km, Chevrolet's Bolt EV is a more reliable choice. However, as the backbone of the electric vehicle market, Tesla does not offer any products close to this price, so there are not many options to meet the needs of consumers.

But that is changing. GM's large electric vehicles will be launched in 2023, when the brand will launch the Chevrolet Equinox EV for the first time, with prices starting at about $30,000. Along with Bolt EV, GM will launch two crossover-style SUV models in the $30,000 price range.

The Chevrolet Blazer EV will go public later this summer, starting at about $45000 without any incentives. GM's electric pickup Silverado will go into production next spring, but a cheaper version (starting at about $39900) is likely to be available in the second half of 2023.

Toyota started late in the field of electric vehicles and is still stuck in the quagmire of formulating electrification strategy. BZ4X finally made its debut in the United States after delaying its release last spring. Although the number is currently limited, the model starts at about $43000 and will be launched in large quantities next year.

When it comes to delayed electric models, Nissan will also launch its popular Ariya CUV EV in early 2023. Ariya is a project jointly designed by Nissan's Japanese and European teams with smooth design and luxurious interiors. Ariya prices for entry-level Engage Trim start at about $43190.

Volkswagen, the world's second-largest carmaker after Toyota, has sold nearly 17000 ID.4 electric vehicles in the United States since 2021, with ID.4 starting at $37495. Volkswagen also plans to launch the ID.Buzz electric van in 2024.

two。 While Fisker and Tesla are joining traditional carmakers, Fisker, a start-up led by Henryk Fisk, hopes to achieve more ambitious goals by 2023.

Fisker Ocean SUV EV has started production at its plant in Gratz, Austria. While the initial Ocean One model will sell for $69000, the company will launch other models next year, including the entry-level Ocean Sport, starting at about $37499.

3. Will Tesla eventually launch a low-cost model? Tesla has always focused on the high-end luxury electric car market, and its cheapest model is the rear-wheel drive version of the Model 3, which sells for $46990. Elon Musk, Tesla's chief executive, said he would finally announce next year the company's self-driving taxis that sell for less than $30,000. But the model may not go into production for at least a year.

4. The impact of government subsidies on the U. S. Congress has introduced legislation to help consumers buy electric cars at a better price. Although the inflation reduction Act's excise tax credit for electric vehicles currently applies to cars assembled in North America, some upcoming changes will benefit two big carmakers, Tesla and General Motors.

Under the old rules, Tesla and GM are gradually losing their eligibility for tax credits. But from January 1, 2023, the two carmakers will be allowed to participate in the program again, and buyers will receive a tax credit of up to $7500 from eligible electric vehicles.

This is good news for both Tesla and GM. The full federal tax credit for Tesla's rear-wheel drive Model 3 is $7500 and will sell for less than $40, 000. GM's Bolt EV and upcoming Equinox are likely to start at much less than $30,000. Both Tesla and GM can mass-produce these models, and GM will actually increase production of the Bolt EV next year.

Other models will also enjoy the benefits of the inflation reduction Act, such as the Ford Fmur150 Lightning Pro and the upcoming Silverado EV, which will be the cheapest electric pickup on the market in 2023.

In addition, the inflation reduction Act allows commercial vehicles to qualify for full tax credits, no matter where they are made. Ford Fmur150 Lightning Pro, Silverado EV, E-TRANSE electric minivans and even Mercedes eSprinter Van and other electric models for commercial purposes are eligible for subsidies, which will help them lower prices further.

In the final analysis, the era of cheaper electric cars is just around the corner.

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