Why are electric cars so expensive

 In Vehicles

It’s evident that the electric car market is experiencing a deadlock at the moment, if not in decline.

The sales of electric vehicles have decreased in recent months, putting investors and car makers on alert while the public opinion puts the blame for this on the high price of the cars.

But is it true? And why are electric cars so expensive?

Despite environmental policy and public incentives for buyers, the sales of electric vehicles have not taken off lately, but instead they have considerably decreased.

If between 2014 and 2015 they fell by 5%, in the first months of the years they were down 21% – a significant loss that is causing worries in the automotive industries.

Consumers seem to be interested in the performances of new electric cars, especially on the possibility of saving on fuel cost, but they rarely finalize the purchase.

Indeed, these cars prices are quite high on the market, especially if compared with those of petrol engine cars.

It would seem that the cost of an alternative-powered vehicle falls into the price range of a luxury car and perhaps this doesn’t encourage customers to buy.

Despite the smoothness and quietness of electric cars, they are still not able to travel thousand of miles without being recharged, while a luxury car ensures range and high performance on the road.

So why new electric vehicles have such high prices compared to other standard vehicles

The prices of plug-in hybrid cars are not very competitive, if we consider that the cheapest model costs $ 30.000.

The automotive industry seems stuck and car makers are trying to persuade consumers to notice the benefits of buying an electric car, insisting on the potential of new batteries.

Car drivers are worried about the issue of battery range and about where to recharge their vehicles as not everyone can recharge batteries at home and charging stations are not widespread yet.

The industry is striving hard to make battery life longer but research also carries high costs and this affects the cars final price.

Electric cars are probably considered expensive because they’re not seen in the perspective of a long-time investment as high prices are due to the advanced technology but this will also allow considerable savings on fuel purchase.

Even IC-engined vehicles with advanced technologies are expensive, but consumers still choose to buy them.

Perhaps the problem is not in the price, but in the distrust of buyers towards a new product.

Considering this, the automotive industry is now moving in the right direction, trying to inform consumers on the benefits of this kind of investment.

Times are certainly changing and soon there will be no problem recharging vehicles or buying affordable electric cars.   

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