The Era of Affordable Electric Vehicles

Nissan, Hyundai, Tesla, and Toyota are leading the charge in making electric vehicles more affordable In Q1 2024, substantial price cuts on EVs have been observed, with the likes of Nissan LEAF and Nissan Ariya, Hyundai IONIQ 6, Tesla Model 3, and Toyota bZ4X being sold for under $41,000 These models have seen an average selling price range falling between $35,556 and $36,506 after almost $6,000 in discounts. A pronounced price drop of 9% from the first quarter to the third highlights a competitive market where other manufacturers such as Ford, Volkswagen, Hyundai, and BMW are also reducing their EV prices to remain in the race for affordability.