Earlier quoted context omitted.
> I suspect a whole segment of people would be willing to consider a no-frills EV at a comparable price point. GM made that play with the Bolt. It was routinely available for just over $20K. Still sat on lots, not getting a lot of love. People shopping for new cars want nicer toys, people who cannot afford new shop used and enjoy getting those nice toys at a discount. I bet the subset of buyers looking for a bare bon…
> People shopping for new cars want nicer toys It is worth recognizing the role that ZIRP played in all of this. Artificially low interest rates allowed payments on more expensive premium vehicles to be much more manageable for a much larger portion of the population.
That assumption has been dead since cash for clunkers. Even American made cars will hit 200k miles. There's ZERO value to a "new" car. You would be outright stupid to pay $10k for some probably not possible "bare bones" car when you could just buy the decade old Corolla down the street with 100k miles that's only $5k. It will even have fairly modern safety. This is true even in the modern post-COVID hyper contracted used car market.