The American company Cox Automotive analyzed the situation in the electric car market. Despite the efforts of manufacturers, their prices still remain quite high, which negatively affects demand. According to the study, in the first quarter of 2024, manufacturers sold their electric vehicles at a discount of an average of $6,000. Even so, cars are piling up at dealers.
Some companies have gone further. For example, Nissan offers its electric crossover Aryia with a discount of almost 16 thousand dollars. That's almost a third of the model's recommended retail price, excluding tax credits. According to Cox Automotive, the Nissan Ariya sells for about $35,500, the Nissan Leaf for less than $28,000, and the Hynudai Ioniq 6 for $36,506.
Mercedes-Benz is selling its EQS at a discount of 20 thousand dollars, which is 19% of the cost of the model. Thus, now an electric car can be purchased cheaper for 105 thousand dollars.
Tesla and Ford also lowered their prices. The discounted Tesla Model 3 costs $40,547, and the Model Y costs $43,238. According to Cox Automotive, the average price of a Ford Mustang Mach-E is $44,910.
According to Automotive News, as of April 1, electric cars were parked at dealers for an average of 119 days. At its peak, recorded in mid-February, the average was 169 days. For comparison, the average indicator of gasoline models is 73 days.
Cutting price tags made it possible to significantly shorten the sales period. So after the Mustang Mach-E dropped $8,100 in price, delivery time dropped from 314 days in February to 140 days in March. The Nissan Ariya went on sale in 94 days, while in February the buyer had to wait 159 days.
The reason for the increase in the delay of electric cars in dealerships is a drop in demand. In the first quarter of 2024, electric vehicles accounted for 7.3% of new car sales, just 2.6% more than a year earlier. For comparison, in the first quarter of 2023, the volume of sales of electric cars increased by 46% year-on-year, in 2022 – by 81%.