Electrify America 350 kw chargers at Home Depot in Chicopee, Mass.
Prices on electric cars are going up.
Several factors account for this. For starters, tax credits on electric cars from the two most popular electric-car makers, Tesla and Chevrolet, which is raising effective prices.
An even bigger factor raising average prices for electric cars may be the fact that a host of new models are coming from luxury automakers with prices starting at $60,000 and up.
READ THIS: Tesla sells 200,000th car, starting phaseout of federal tax credits
Cheaper electric cars seem to be mainly (though not entirely) a response to mandates in California and elsewhere for manufacturers to build and sell electric cars—cars once commonly referred to as “compliance cars.” With much higher numbers of cars needed to comply with those standards today, however, it is more difficult to dismiss such “compliance-car” efforts as unserious.
If Tesla has demonstrated anything, it is that there is a market for electric cars among relatively wealthy luxury-car buyers, and that electric cars may work no differently than other new technologies, most successfully starting out as luxury items and then propagating into more affordable markets.
All this led us to wonder what our readers and Twitter followers might be willing to spend on electric cars? Are there still many who are waiting for electric cars to become more affordable, who may feel disenfranchised by automakers move upscale with their electric car offerings? Are there many people who may be priced out of the electric-car market by expiring tax incentives?
How much would you spend on an electric car?
— Green Car Reports (@GreenCarReports) August 20, 2018
To get a sense of the answers to those questions, our Twitter poll this week asks: “How much would you spend on an electric car?”
After tax incentives, the least expensive new electric cars today cost around $25,000. Some buyers may already be priced out of the electric car market, looking only for used electrics, or be so committed to environmental causes that they don’t want to support the production of any new car. For those buyers, we offer a choice of Less than $25,000.
Most electric models today cost between $25,000 and $35,000, our second option.
DON’T MISS: What happens to electric-car sales when tax credits sunset? Each maker differs
Some higher-priced models with longer-range batteries, such as the Chevy Bolt EV start at more than $35,000, especially in higher trim levels.
Luxury electric models are priced more than $45,000—sometimes much more.
Head on over to our Twitter poll to let us know your budget for an electric car, and help give us a sense of where the electric-car market may be headed.
Remember that our Twitter polls are unscientific, due to their low sample size, and the fact that our respondents are self selected. We’ll still be interesting in hearing your thoughts.