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Study Suggests Automakers Lose $6,000 On Each EV Sold

The Truth About Cars

Boston Consulting Group, an American-based global management consulting firm that issued the report, said the figure accounts for customer tax credits — painting a rather bleak picture for the future of EVs. Automakers differ in their approaches to EVs, but most have felt the punch of slowing sales growth.

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Hyundai Motor, including Kia top Ford and GM in US EV market with affordable EVs

Baua Electric

Hyundai Motor Group, including Kia, is using affordability to gain market share in the US. With low-cost electric cars, Hyundai Motor , along with Kia, surged past American automakers Ford and GM in the US EV market in the first three months of 2024. 305 $51,265 SE Dual Motor AWD 77.4 316 $47,065 SEL Dual Motor AWD 77.4

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Is Hyundai’s IONIQ 6 the ultimate EV? Fast charging, long-range, and affordable price

Baua Electric

According to a new report, the Hyundai IONIQ 6 is the only EV on the market offering fast charging in under 20 minutes, over 350 miles range, and at an affordable starting price. And you get all of this starting at an affordable starting price of as little as $38,650. 305 $51,265 SE Dual Motor AWD 77.4 361 $43,656 SEL RWD 77.4

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Hyundai IONIQ 6, Kona EV are two of the cheapest cars (EV or gas) to lease at just $169/mo

Baua Electric

Hyundai is offering two of the cheapest cars to lease (EV or gas-powered), the IONIQ 6 and Kona EV, in the US, with prices as low as $169 per month. Including Kia and Genesis, Hyundai Motor was second, behind only Tesla. 2024 Hyundai IONIQ 6 SE (Source: Hyundai) The IONIQ 6 SE AWD is on sale for $319 per month, with $319 at signing.

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Hyundai and Kia are gaining a competitive edge ahead of the affordable EV offensive

Baua Electric

Hyundai Motor, including Kia, generated a record over $9 billion (KRW 12.27 In the US, Hyundai shattered its sales record for the third year in a row. Hyundai already sold nearly 15,000 IONIQ 5 models (+43% YOY) through the first five months of 2024 after setting a new monthly sales record in May. trillion) in profits last year.

Kia 52
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If $50,000 EVs still lose $6,000, when will EVs become profitable?

Baua Electric

Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group. Stellantis CEO Carlos Tavares has said that EVs cost the company 50% more to make, however, and it’s not a premium that can be passed along in the final price.

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Hilux, Ranger EV ute conversions by Roev from $47,990 as company confirms 2023 production

EV Central

Australian manufacturer Roev plans to do just that from 2023 by converting Toyota Hiluxes and Ford Rangers to electric, with conversions priced from $47,990. That makes the locally-converted utes cheaper than the LDV eT60 that has just gone on sale priced from $92,990 drive-away. 2023 Roev electric Toyota HiLux.