Twenty new electric vehicle models are scheduled to be launched in the US in the coming 12 months, about the same number as models found in the year prior.
In the development of electric vehicles, 2022 will be remembered as its giant fauna: Huge electric trucks finally made their way across the nation at an equally astronomical price. However, the coming year could bring subspecies of the vehicle assortment of SUVs, with some less compact options and, even rarer, one with a smaller window sticker. If you’re considering buying an automobile, there are four forecasts.
It is possible to expect even more EVs at Costco.
A total of 20 new electric vehicle models are scheduled to be launched in the US in the coming twelve months, about the same number as was launched in the year before. However, a lot is aimed at a niche market within the American market, ideal for hauling cargo or families, and is relatively inexpensive.
The long-awaited Nissan Ariya finally made its way into the dealers with a base cost of $33,190. In a few months, Chevrolet says it will launch its Blazer EV at just under $45,000. Then it will launch the smaller and less expensive Equinox EV later in autumn. Kia’s EV9 is a genuine three-row model and could be priced in a more affordable range, especially if it can match its more minor sister, the EV6. On the other hand, on the startup front, VinFast, a Vietnamese manufacturer, is launching their VF 8, a small SUV priced at just $40,700 (though the battery will be sold as a monthly-based subscription plan).
European motorists can count on many of the same choices as well as a few that are exclusively Continental, such as those offered by the Jeep Avenger, a stubby SUV that’s the first Jeep model all-electric. Several stylish station wagons like the Opel Astra Electric and the Peugeot e-308 SW join. Due to their slimmer profile and incredible efficiency, it boasts road-trip-ready mileage figures using batteries much smaller than the ones found in most American EVs.
The market for $100,000+ has kept up its pace.
Many sexier SUVs are expected in 2023. This includes an EV version of GMC’s Hummer EV, with a cost in the six figures; the first electric Lexus called RZ and the “Electrified” version of Hyundai’s GV70; two other smaller crossovers from Polestar, which are dubbed 3 and 4. And the most expensive of the luxury pyramid are the Mercedes EQE and the EQS. There’s also speculation of a massive electric Volvo.
Also, we’ll see increasing amounts of EVs such as that of Rivian R1S along with Cadillac’s brand new Lyric that is technically available; however, they have yet to be widely available on American roads. On the truck front, GM will finally start making their Silverado EV, a model regularly a winner for nearly half a million fuel users annually.
Manufacturing issues won’t slow down.
Anyone looking to purchase an electric vehicle will be able to choose from a variety of models in 2023. However, choosing a modern whip instead of buying a new one will continue to be different. The supply of lashes will remain limited, prices will remain high, and the old automakers will continue to be keen to market gas vehicles, even as they ramp up all EV markets.
Startup automakers, for instance, are still working out ways to build an automobile on a massive scale. Rivian, for example, produced just 250 vehicles in the year that it was launched. However, it has four times as many orders in its inventory. Lucid Group was aiming for about 6,000 to 7,000 electric vehicles in 2022, following a halving of its production targets this summer.
S&P Global Mobility expects drivers across the globe to snap up 10 million electric vehicles in 2023, nearly 14 percent of the market. However, they will not cost a fortune. S&P cautions EV excitement has pushed prices higher, and the flurry of new incentives outlined in the Inflation Reduction Act will only make the price slightly less painful.
Making money from EVs will take work.
While the companies of Detroit, Seoul, Stuttgart, and Tokyo might finally receive the computers they require, the unit economics of electric vehicles aren’t great. The price of lithium-ion batteries was up in 2022 to the highest level ever, with a 7 percent increase. Some of the most influential thinkers in the field, like Toyota president Akio Toyoda, and Rivian founder and CEO RJ Scaringe, are concerned that it could take many years for the battery production chain to keep up.
The best approach for auto executives is to use the basic bait-and-switch strategy: get drivers excited to switch to electric vehicles with a lower cost of entry and then make more expensive, high-end models. If you still need to make enough cars, the theory is to make the most profitable ones.
However, if the economic outlook remains precarious and interest rates keep rising, there are better ideas than relying on indefinite demand. “US consumers are hunkering down,” says S&P analyst Chris Hopson, “and recovery towards pre-pandemic vehicle demand seems like a hard sell.”
The funny thing is that people need to find out how many people would like to convert to electric power. However, it’s you can be sure that it’s an enormous amount. The EV-curious are often spotted in surveys between 25 and 50%, and this percentage will only rise as the number of products becomes more widespread. Green driving is a must, according to the old saying. It’s the most ideal of times, and it could be better.
