On a bi-weekly basis, CAR welcomes our audience to decompress with our President and CEO, Carla Bailo, as she covers and shares her thoughts on the latest Hot Topics happening in the automotive industry. While the biweekly newsletter primarily covers three topics, this feature story previews one of the topics covered on June 24, 2022. If you would like access to the full newsletter for better insights into critical industry issues you and your organization are facing, sign up for our mailing list here.
HOT TOPICS 6/20/2022 – 6/24/2022
EV Affordability and Incentives
- Inflation Turns EVs Into Luxury Items, Threatening Broader Electric Shift
- 4 Automakers Ask U.S. Government to Lift Cap on $7500 EV Tax Credit
- Hyundai working on small, affordable electric car for India
- Tesla is leaving the market for low-end electric cars to traditional automakers
- GM is raising the price of its electric Hummer starting this weekend
- The average price for an EV has surpassed $60K; here are some affordable options
- EVs not affordable to ‘too many Americans,’ says Michigan Rep. Dingell
Even ICE vehicles are reaching unaffordable prices for the vast majority of Americans. With inflation taking an even larger toll on one’s pocketbook, hanging on to an older vehicle and making it last longer is a more affordable option. Or, we really need to make an equitable mobility ecosystem which provides transit regardless of your social status. CAR ownership is NOT a reality or solution for many people. There are those who prefer NOT to own a vehicle and there are those who don’t have the luxury of a preference.
BUT, mobility is the key to opportunites such as jobs, education and healthcare. Beyond this, we have a number of Americans (myself included) predicted to outlive their driver’s license by 10 years. I believe this group of people will want mobility solutions to see family, friends, and participate in an active life.
It is good to see China, Inda, and Europe putting “city” cars in the market and making more affordable options. These options need to be part of mobility solutions, not individual ownership.
Further, we need to have a public transit system that connects our major cities and has 1st mile/last mile solutions. There has been a lot of work in this doman via our UTCs(University Transportation Centers), but we need to make them all commercially viable. The automakers have a key role here to expand their portfolio and options. I challenge us all to think differently about this problem and solution.
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President & CEO
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