Are Electric Vehicles Worth the Money? - AllCarIndex
The market for electric cars is growing at a constant rate. A report by Allied Market Research expected the market to grow at a rate of 18.2%. In 2020, it was valued at $163.01 billion. By 2030, it would grow to about $823.75 billion.
Many factors would explain the strong demand for electric cars. For one, consumers are becoming more climate-aware as they commit to reducing their carbon footprints. There is also the high cost of fossil fuels brought by recent supply chain disruptions and geopolitical tensions.
Whichever the case, electric vehicles will become more accessible to consumers as companies like Tesla and BMW are competing for a bigger share of the market.
At this point, buyers have more than enough options to choose from. It's just a matter of knowing how to get started as you shop for a vehicle that suits your needs. The first thing you will have to do is to learn how much you will need to purchase one.
The Average Cost of Buying an Electric Car
Electric vehicles are more expensive compared to standard vehicles. While competition is strong among the market's leading manufacturers, these vehicles come at a hefty price tag. An article from the Kelley Blue Book pegs the average price of an electric car at $51,532. This is considerably higher than an entry-level luxury car that costs $47,627. It's because of these high costs that electric cars are considered luxury vehicles. Despite this, these vehicles offer massive benefits over time.
Reasons to Buy an Electric Car
While upfront costs might be out of reach for many buyers, owning a Tesla or a Hyundai Blue-2 is more affordable in the long run. Apart from the fact that it helps you save more money amid rising gas prices, an electric car offers other advantages:
1. Lower emissions: Since these vehicles run on electricity, you get peace of mind knowing that you are driving a car that won't worsen pollution.
2. Easier maintenance: Electric vehicles are easy to maintain and repair because they consist of fewer parts compared to regular vehicles.
3. Smoother driving: When it comes to the driving experience, most electric cars offer smoother handling. In addition, they are operated in the same way as automatic drive vehicles where you don't need to shift gears.
4. More features: Because the EV vehicle market is a new sector, manufacturers are offering products that do more than get people from point A to point B. Exciting concepts like the Mercedes-Benz BlueZero will feature powertrain technology that gives the vehicle a low center of gravity and allows for better handling.
If you are convinced by these key reasons, you might as well look for the best EV deals on the market. Apart from purchasing directly from manufacturers, you can also check out an electric vehicle marketplace where you can compare brands and find a vehicle that suits your tastes.
While expensive, electric cars are worth every penny you pay upfront. In addition to that, you also enjoy a more stylish driving experience as you do your part in reducing carbon emissions.