Automakers are rewarding EV early adopters with price cuts that only benefit everyone else

Tue, 07/18/2023 - 13:06

A gray Tesla Model Y SUV is shown driving down the highway from a rear view with trees in the background. — As more EV prices get cut, soon-to-be buyers are better positioned than they were a year ago, but at the expense of early adopters.
Tesla

Automakers are dropping the prices of their electric cars in the hopes of boosting sales.
Tesla has been slashing prices for months, and Ford just joined in with F-150 Lightning discounts.
But these cuts come at the expense of early adopters who bought these EVs at their peak prices.

It's never been a better time to be in the market for an electric car — but a worse time if you already bought one.

As more EV prices continue to be slashed, soon-to-be customers are better positioned than they were a year ago, but at the expense of those who were early adopters.