Recent discussions among Tesla shareholders unveiled updates on products and batteries. Despite concerns raised by those skeptical of electric vehicles associating them with high costs, the prices for new EVs are gradually stabilizing while the costs for pre-owned EVs have drastically fallen. Read all about this and more at Green Car Reports.
The declining trend in new EV prices was already understood. Now, studies in the market have shown that prices for pre-owned EVs have significantly dropped to the extent that they are now lower than those of equivalent gasoline-powered vehicles. To illustrate, the average prices for used Tesla Model 3s are presently below the prices of BMW 3-Series vehicles from recent model-years.
Simultaneously, a recent extensive survey conducted among consumers by the Associated Press and public policy specialists indicated that the primary concern for many American adults in regard to EVs is their cost. According to the survey, nearly 60% highlighted cost as a key factor deterring them from considering EVs, with these findings aligning with previous results indicating that older adults expressed more significant apprehensions about EV expenses.
Prior to the weekend, insights from Tesla’s yearly shareholder gathering highlighted two notable product updates. CEO Elon Musk emphasized the importance of affordability and confirmed the development of three upcoming “remarkable” Tesla EVs—although there was no mention of the Roadster. Musk also disclosed that Tesla is confronting challenges in reducing the costs of its 4680 battery cells, which were introduced as a transformative technology that would revolutionize the economics of EVs by making them more cost-effective than cells manufactured by current suppliers.
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