Automakers target average households with new crop of electric vehicles
In their first rollouts of electric vehicles, America’s automakers targeted people who value shortrange economy cars. Then came EVs for luxury buyers and drivers of pickups and delivery vans.
Now, the companies are zeroing in at the heart of the U.S. auto market: the compact SUV. In their drive to have EVs dominate vehicle sales in coming years, the automakers are promoting their new models as having the range, price and features to rival their gas-powered competitors.
Some are so far proving quite popular. Ford’s $45,000-plus Mustang Mach E is sold out for the model year. This month, General Motors’ Chevrolet brand introduced an electric version of its Blazer, also starting around $45,000, when it goes on sale next summer.
Also coming next year: An electric Chevy Equinox, with a base price of about $30,000, whose price could give it particular appeal with modest-income households. There’s also the Hyundai Ioniq 5 and Volkswagen’s ID.4 in the $40,000s and Nissan’s upcoming Ariya around $47,000 with a lowerpriced version coming.
All start off considerably less expensive than Tesla’s Model Y small SUV, the current top EV seller, with a starting price well into the $60,000s.
The new models, which can get about 300 miles per electric charge, are aimed at the largest segment of the U.S. market: modestsize SUVs, representing about 20% of new-vehicle sales. Industry experts say entering the smaller SUV segment, with its reach into a broader demographic of buyers, is sure to boost electric vehicle sales nationally.
“If it’s a price you can reach but it’s a product that you can’t put your kids and your dog in, you’re not going to buy it,” said
Stephanie Brinley, principal analyst for S&P Global Mobility.