{"id":17863,"date":"2024-04-01T09:44:30","date_gmt":"2024-04-01T00:44:30","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=17863"},"modified":"2025-10-26T15:10:53","modified_gmt":"2025-10-26T06:10:53","slug":"why-evs-will-be-the-only-vehicles-purchased-by-lower-mainstream-buyers-by-james-carter","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/17863","title":{"rendered":"Soon EVs will be the only vehicles purchased by lower mainstream buyers (by James Carter)"},"content":{"rendered":"

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In many countries, electric vehicles (EVs) continue to have a very significant problem: price. <\/span><\/p>\n

In the United States and Canada, EVs under USD 30,000 \/ CAD 40,000 are very few and far between, and for buyers who have traditionally purchased a Toyota Corolla, Honda Civic or Hyundai Elantra, the 50% plus jump into a similar sized EV, just isn\u2019t happening.<\/span><\/p>\n

Even when adding fuel savings into the payment, most can\u2019t make the numbers work.<\/span><\/p>\n

With higher levels of inflation and production shortages, the affordability problem has gotten worse, even for buyers of gasoline vehicles. Last year, just 8% of new vehicles available for sale were priced below USD 30,000, compared to 38% pre-pandemic, according to car shopping app CoPilot.<\/span><\/p>\n

However, in Australia, the opposite is occurring. With limited policy focus on local production, the emergence of low-cost entry-level electric models have seen EV market share more than double between 2022 and 2023.<\/span><\/p>\n

These lower cost models usually have one thing in common: Lithium iron phosphate (LFP) batteries.<\/strong><\/span><\/p>\n

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