Whenever I drive around town, I like to play a little game. I count how many Teslas I see on the road vs. Mercedes. It’s an easy game to play. Teslas are easy to spot, and so is the distinctive Mercedes logo. Several years ago, it was rare to spot Teslas on the road. Nowadays, I usually count more Teslas on the road than Mercedes on routine trips.
Make no mistake about it, the EV revolution is in full swing, and it’s backed by tax credits of up to $7,500 which brings the cost of these vehicles in line with internal combustion vehicles. The Biden administration is investing heavily in a nationwide network of EV charging stations to help extend the range of EVs on the road. The Tesla charging connector is becoming the defacto standard in many states like Texas. In the years to come, we will see charging stations everywhere. Even major retailers like Walmart plan to install EV charging stations at thousands of their locations.
Electric Cars Ranked By Price
Although Tesla has dominant market share, InsideEVs.com ranks a wide variety of electric vehicles by price from cheapest to most expensive after tax credits.
The Chevrolet Bolt leads the cheapest cars on the list with adjusted prices in the range of $20,000 – $22,000. There’s a jump in price to the Nissan Leaf which carries a $29,000 price tag. Prices quickly ramp up to the $40,000-$60,000 range.
For the entire list of brands by price, click here.
Sales of EVs are showing a parabolic growth curve since 2016, according to Statista.com. Vehicle sales have ramped up from 150,000 units in 2016 to 1.08 million vehicles in 2023. By 2028, total vehicles sold is expected to be 2.46 million vehicles sold.
EV Sales by Manufacturer
In 2022, Tesla led all other EV makers by a large margin with 51.7% of all EVs sold. Ford was a distant 2nd place at 7%. All of the others represented less than 5% of sales.
Charging stations are expected to rise from 130,200 in 2023 to 290,000 stations in 2027.
EV Stocks in 2023
Tesla (TSLA) ran from $101 to a high of $273 in 2023
Rivian (RIVN) has been range-bound mostly between $14 – $16 in 2023
Ford (F) has climbed from $12 to $14.50 per share in 2023
Daily Chart for Tesla (TSLA) in 2023
Stay tuned to Global Investment Daily as we monitor developments in the EV industry.