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

Green Car Reports

Legacy automakers are still losing thousands of dollars on many EV sales, according to newly published analysis from the Boston Consulting Group.

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

Baua Electric

Earlier this month, Hyundai introduced its “Getaway Sales Event,” offering savings on popular models, including its all-electric vehicles. 2024 Hyundai IONIQ 6 SE (Source: Hyundai) The IONIQ 6 SE AWD is on sale for $319 per month, with $319 at signing. The pace continued in January, with Hyundai’s EV registrations up 79% YOY.

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Porsche’s North American CEO Leaves Company

The Truth About Cars

Gruner joined Porsche in 1999 from Boston Consulting Group. & “We thank Kjell Gruner for his excellent work at Porsche,” stated Detlev von Platen , Member of the Executive Board for Sales and Marketing at Porsche AG.

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

Baua Electric

Hyundai, Kia top Ford, GM in EV sales with affordability After the IONIQ 5 was the sixth best-selling EV in the US last year with nearly 34,000 units sold, Hyundai (and Kia) are starting the year strong in the US. Hyundai’s best-selling electric SUV, the IONIQ 5, set a new sales record last month, pushing EV sales up 100% over last year.

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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. Automakers will only be able to close about half of that cost gap with technology choices, BCG estimates.

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

Baua Electric

Hyundai IONIQ 6 checks all the boxes as an affordable EV Hyundai introduced the IONIQ 6 electric sedan in South Korea in late 2022, with sales kicking off in the US in March 2023. Source: Boston Consulting Group) BCG research found that 70% of US consumers are considering buying an EV.