I have previous stated in other posts that Lucid really is not the Tesla Killer that the media is trying to make it out to be. I am no genius in making this statement, I am only reiterating what Lucid’s CEO has stated. Lucid is going after the high end, luxury European auto makers such as Audi, Mercedes and BMW in trying to establish its branding. Someday in the future, he states that Lucid will add to its fleet a lower end car in which the mainstream American car buyer can afford. Since Tesla does not go after the high end luxury market, Lucid and Tesla really market different segments of the market.
Recently, the real Tesla killers have reared their “ugly” heads and, in my humble opinion, are aiming to cut the legs off of Tesla by offering some pretty remarkable EVs at significantly less price and with fewer quality-build issues. Plus, they are doing this at a time that Tesla has just announce more price increases for it lower end vehicles.
The recent e-issue of Consumer Reports has an article on the recent price cuts that a number of legacy auto makers have made to their EVs. Since to read this article may require a subscription, I will share a few of the salient paragraphs it contains instead of posting a link to it.
CR writes:
“The cost for joining the electric car revolution is less now than ever before, since Chevrolet, Hyundai, and Nissan lowered prices on their entry-level models. Competition is driving this move, with the latest crop of electric vehicles coming in around $45,000—like the Hyundai Ioniq 5, Kia EV6, Toyota bZ4X, and Volkswagen ID.4. This means that the previous-generation models that once had prices around $40,000 need adjustments because they don’t have the power, range, size, and panache of the latest EVs.”
Later on, the article continues with:
“Chevrolet just released pricing for its 2023 Bolt and Bolt EUV, reflecting a drop of $5,900 and $6,300 per model. This brings the starting price to $26,595 and $28,195, respectively. (That’s about $10,000 less than the Bolt from five years ago.)”
Finally, I share a third paragraph which states:
“The Hyundai Kona Electric saw its base price lower from $37,390 to $34,000 for the 2022 model year, as newer Hyundai/Kia EVs charged to dealerships. The Nissan Leaf dropped from $31,670 to $27,400 for 2022, and it streamlined from five trims to two, the S and SV Plus, for 2023.”
While I have never ridden in any Tesla, I have driven a 2022 KIA EV6 - GT Line First Edition and I must say, it is very impressive on many different levels. While costing just under $60k, I believe it may turn some of the people contemplating buying a Telsa 3. Meanwhile, much of the lower cost segment of the market may be captured by those legacy auto makers mentioned above.
Recently, the real Tesla killers have reared their “ugly” heads and, in my humble opinion, are aiming to cut the legs off of Tesla by offering some pretty remarkable EVs at significantly less price and with fewer quality-build issues. Plus, they are doing this at a time that Tesla has just announce more price increases for it lower end vehicles.
The recent e-issue of Consumer Reports has an article on the recent price cuts that a number of legacy auto makers have made to their EVs. Since to read this article may require a subscription, I will share a few of the salient paragraphs it contains instead of posting a link to it.
CR writes:
“The cost for joining the electric car revolution is less now than ever before, since Chevrolet, Hyundai, and Nissan lowered prices on their entry-level models. Competition is driving this move, with the latest crop of electric vehicles coming in around $45,000—like the Hyundai Ioniq 5, Kia EV6, Toyota bZ4X, and Volkswagen ID.4. This means that the previous-generation models that once had prices around $40,000 need adjustments because they don’t have the power, range, size, and panache of the latest EVs.”
Later on, the article continues with:
“Chevrolet just released pricing for its 2023 Bolt and Bolt EUV, reflecting a drop of $5,900 and $6,300 per model. This brings the starting price to $26,595 and $28,195, respectively. (That’s about $10,000 less than the Bolt from five years ago.)”
Finally, I share a third paragraph which states:
“The Hyundai Kona Electric saw its base price lower from $37,390 to $34,000 for the 2022 model year, as newer Hyundai/Kia EVs charged to dealerships. The Nissan Leaf dropped from $31,670 to $27,400 for 2022, and it streamlined from five trims to two, the S and SV Plus, for 2023.”
While I have never ridden in any Tesla, I have driven a 2022 KIA EV6 - GT Line First Edition and I must say, it is very impressive on many different levels. While costing just under $60k, I believe it may turn some of the people contemplating buying a Telsa 3. Meanwhile, much of the lower cost segment of the market may be captured by those legacy auto makers mentioned above.