Is Buying An Electric Vehicle Becoming More Affordable?
Even as electric vehicles grow more popular, many consumers are still holding out for the sticker price to be right. However, with a handful of automakers following Tesla’s price cuts throughout this year as well as federal and state incentives, some note that EVs are quickly approaching general affordability in the U.S. public.
“Major car companies like Nissan, Hyundai and Chevrolet are cutting their EV prices in order to compete with EV leader Tesla, which has cut its prices several times over recent months,” Globe wrote. Last year, Tesla increased prices multiple times as it faced disruptions to the global supply chain, as the outlethas explained. This year, however, the company has cut prices on all of its models by up to 20 percent, and every Model 3 and Model Y trim has also become eligible for the full $7,500 federal tax credit.
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