2022 EV Market
2022 is unusual (may be crazy!) year for the (EV) auto market. We are seeing more EVs coming into the market in 2022.
Here is a visualization of available EVs in 2022 in US. You can interact with this, by clicking and zooming.
If the graph is not loading above, you can access it using this link. And here is an screenshot
Analysis of the data
Let’s look at the data a little closely.
“Bargain Buys” – Cheap EVs
These are EVs with shorter range and also small price tags. These are great for “around town driving”
They are under MSRP 30k and range about 150 miles. (Bottom-left segment).
Nissan Leaf S is a good candidate here.
“Luxury Category”
For this category, I drew the line at 60k MSRP and 200+ mile range.
The segment is top-right corner.
At the “entry level luxury” of this segment (MSRP 60k – 80k) , we will see
- Tesla Model 3 performance and Model Y
- Mustang Mach-E GT
- And Rivian R1S and R1T
In the mid level luxury (100k – 150k) we see
- Plaid models from Tesla
- Porsche Taycan
- Hummers
Top end luxury
- Taycan Tourismo is the most expensive at $190k
- And Lucid Air Dream at $169k, but sporting an impressive range of 520 miles
“Sweet Spot” – Good Price and Performance
This is where MSRP is below $60k and range is above 200 miles.
This segment has mass market appeal as one can get an EV with decent range for an “affordable” price.
And the good news is we see this segment is a pretty crowded segment with lots offerings from lots of manufacturers.
Here we see cars from various manufacturers like GM, Tesla, Nissan, Kia and Audi.
Most affordable EV with decent range
Chevy Bolt takes this prize with a range of 250 miles and pricing around $26k to 32k (after GM recently slashed prices).
I personally have a Bolt and I love the car. One of the criticisms of the car is its slow fast charging speed – 50kw max – that can be slow during road trips.
“Best Pick” in this segment
Hyundai Ioniq5 has been getting rave reviews for its affordable price (around 50k), attractive features, and fast charging speed (200+ kw). How ever they are extremely hard to come by and the available stock is marked-up by a lot.
Fun Picks
If money is no object…
You may want to consider
- Porche Taycan Turbo Grand Turismo @ $192k
- Lucid Air Dream at $170k and with an impressive range of 500 miles
- And any of Tesla S and X Plaids
The longest range
Lucid Air Dream has 520 miles range
Making some sort of statement
GM Hummers will set you back around $100k-120k. Hummers get a lot of hate for being absolute gas guzzlers. You will certainly be making a statement with electric hummers 🙂
Takeaways and Looking Ahead
2022 has been a mixed year for EVs.
The good
- There are lot of EVs on the market at affordable prices
- The meteoric increase in gas prices ($6+ dollars per gallon in some states) have drivers turning to EVs more and more
- The charging infrastructure is improving steadily
The bad
- Even though the demand for EVs are up, the supply chain issues are crimping the supply of EVs. Lot of manufacturers have weeks or months of waiting times for order
- Due to supply shortages, some dealers are marking up cars. There are reports of dealers adding anywhere from 5k to 15k
Looking ahead
Even though 2022 is a mixed year for EV, I think it is a positive year overall. Interest in EVs are up. And more manufacturers are producing mass-market EVs. I am excited to see what 2023 brings.