, Columnist
EVs Are Cheaper Than Ever. That’s Bad for EV Owners
Consumers have a lot to learn from Hertz’s epic depreciation problem.
It will soon be a buyer's market.
Photographer: Justin Sullivan/Getty Images
Here’s some good news for electric cars: They’re cheaper than ever. Here’s some bad news for electric cars: They’re cheaper than ever.
If this sounds like a paradox, it shouldn’t. On Friday, Tesla Inc. cut prices in China for its best-selling Model 3 sedan by 5.9%, lowering the starting price to 245,900 yuan ($34,300). That pushes the cost of a new vehicle below $35,000 — a fabled level that Elon Musk has been promising since 2016, but (mostly) has failed to deliver.
