It's not just the financing costs as Mr. Musk points out in the post immediately below.
The combination of historically high general inflation, extraordinary price increases for lithium and higher input costs (labor, electricity) for manufacturing means trouble for the mass roll-out of EV's.
You will own nothing and enjoy walking.
From MotorTrend, December 15:
The least-expensive electric F-150 Lightning now costs $16,100 more than it did earlier this year.
It was nearly too good while it lasted. The original base price assigned to the 2022 Ford F-150 Lightning Pro was eye-popping for its size, or lack thereof: Here was an all-electric full-size pickup truck listed at just over $41,000(!). To help keep that price so low, Ford used a ton of carryover parts from the regular, gas-fed F-150—and also charged a lot more for bigger batteries and higher trim levels, ensuring those pricey models helped its bottom line. Now, it seems like the entry-level F-150 Lightning's ride as a standout value is over, as following price increases in August and again in October, Ford is charging up the price of its least-expensive F-150 Lightning Pro model yet again, with the latest changes appearing on its website just days after we named the Lightning our 2023 Truck of the Year.
The Pro is not the only model affected by the new pricing, but it sees the biggest change. Those previous price increases raised the truck's MSRP from its initial—and staggering—tab of just $41,769 to $48,769 and then to $53,769. With this latest shift, the Pro now starts at $57,869. So, if you thought that August and October's combined $12,000 increase was staggering, well, sit down, because this month's change means the Pro is $16,100 dearer than it was earlier this year.....
....MUCH MORE
This is something we've been attempting to highlight for the last six months:
.... Higher prices + higher interest rates for folks who don't buy for cash, or lease, means the dream of mass-market electric vehicles is receding toward the horizon, which also means the economies of scale in traditionally powered vehicles won't be matched in EV's for a few more years at minimum meaning we see headlines such as this at Mining.com on June 23:...
July 1
"Stellantis warns of car market collapse if EVs don't get cheaper"
All is proceeding according to plan. You will own nothing and be happy.
In other words: "Hop on the bus, Gus," "Make a new plan, Stan...."(apologies to Paul Simon)
Not just "unreasonable", unsustainable. Because battery costs are such a large proportion of the cost of an electric vehicle you are actually seeing some demand destruction in the end product.
And finally, circling back to MotorTrend and the Ford Lightning, they had another article on just how much juice you suck up doing truck stuff like towing:
Here's a rather stunning energy density factoid from MotorTrend:
...Before you hitch an Airstream to your electric truck and set out to circumnavigate the country, you need to understand this: With the largest available battery pack, a fully charged 2022 Ford F-150 Lightning electric truck has less energy onboard than a regular F-150 with four gallons of gas in its tank...That was in July. Despite the handicap MotorTrend just named the Lightning their Truck of the Year.
