Sep 11, 2023 - Energy & Environment

Luxury EVs dominate the U.S. market

Image courtesy of the Energy Information Administration

A key hurdle to making electric vehicles (EVs) truly mass-market: lots of them are luxury models.

Driving the news: This Energy Information Administration primer breaks down the market segmentation using data from Wards Intelligence.

  • There's no single definition or price point for "luxury" — Wards bases it on models' sizes, body type and price.
  • But, for instance, a "middle luxury" SUV starts at $50,000.

Of note: EVs generally have lower lifetime costs than gas-powered models due to fuel and maintenance savings.

Yes, but: EV sales are rising. And while the U.S. market is awash in expensive models, more EVs are arriving at several price points in the coming years.

Go deeper: Next roadblock for electric cars: Early adopter era is over

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