Last week’s Tesla shareholder buzz brought some product and battery news. And at the same time that EV rejectors keep citing cost as the primary reason why they don’t work, the cost of new EVs keeps settling and used EV prices have plunged. This and more, here at Green Car Reports.
We already knew that new EV transaction prices have been settling downward. Now market analysis is seeing that used EV prices have plummeted—to the degree that they now stand below the prices of comparable gasoline vehicles. If there’s an example that underscores the point best, it’s that average used Tesla Model 3 prices are now below BMW 3-Series prices, both for a recent-model-year timeframe.
At the same time, a recent wide-ranging consumer poll from the Associated Press and public policy researchers suggested that cost headlines the EV deal breakers for many U.S. adults. According to that, Nearly 6 in 10 cited cost as a primary reason for skipping EVs, with these polls echoing previous results suggesting that these EV cost concerns were greater for older adults.
And just prior to the weekend, we rounded up two product takeaways from Tesla’s annual shareholder meeting. CEO Elon Musk emphasized the importance of affordability and confirmed three upcoming “amazing” Tesla EVs—although there was no mention of the Roadster. And Musk revealed that Tesla is still struggling to lower the cost of its 4680 battery cells, pushed as a game-changer that would change the economics behind EVs, below that of current supplier-made cells.
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