Per a recent story on thestreet.com titled "Who Can Afford a Tesla, Ford or Chevy Electric Vehicle?" they state that the median salary of $51,480 before taxes for 2021 from the U.S. Bureau of Labor Statistics. This would tend to imply that of the 2 million EVs that Ford and Chevrolet both say they will build and sell by 2026 is going to be hard as the current math for a 2022 Chevy Bolt with a starting price of $32,495 based on a 72 month loan with a $2,500 down payment would require an income of $72,000 a year and has you paying a monthly $452 payment.
A Ford Mach E with a base price of $44,995 requires an income of $101,000 a year with a monthly payment of $606 on a 72 month loan with a down payment of $4,500
Tesla is even more expensive when you look at the recent starting price of $47,690 which would require a yearly income of $111,000 with a 72 month loan, $4,500 down payment and a monthly payment of $652.
With the recent spikes in gas prices, more people have been interested in electric vehicles, yet the current prices are out of reach of most people even on used EVs. Then take into account the spike in raw meterials such as nickel and that ends up boosting EV prices again.
No entry level EV is priced under $30,000 that is equal to an ICE in range. The Chevrolet Bolt comes close, Nissan is selling Leaf's below $30,000 but with a battery range of just over 100 miles that many feel is not doable when compared to a equally priced ICE auto.
Tesla CEO Musk promised a sub $30,000 EV and has FAILED to deliver. He now says auto driving is the future, not individual driving.
Ford has promised an EV for all income levels, but at this time has not shown anything yet.
GM has stated that the Chevrolet Equinox Electric will be a game-changer. This EV will be based on their flexible Ultium Platform that supports Ultium battery packs of 50 kWh to 200 kWh with a motor combination that runs from 235 HP to 1,000 hp depending on EV.
GM has stated that this Electric Equinox will be available in FWD or AWD and will be available on the market starting Fall 2023 with a range per charge of 300 miles.
We have only seen this computer-generated interior that GM released at the start of the 2022 year.
The above video showing the exterior of the actual Chevrolet Equinox EV is exciting and proof that GM is moving forward to deliver on the promise of EVs for all.
With war in Europe, parts shortages globally, Price increases across the board on everything, this brings up the very real question of "Can GM CEO Mary Barra deliver still on the race to electrification for all?"
Many various OEMs and startups have announced EVs from entry level to luxury level. Can anyone deliver on that promise?
Many here at Cheers and Gears have also debated the lack of Style and inspiration for autos in the 21st century over autos of past yore.
What do YOU think of Chevrolet Equinox EV from a style standpoint?
Who Can Afford a Tesla, Ford or Chevy Electric Vehicle? - TheStreet
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