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Today we dive into the big discounts making EVs more affordable than ever. We also talk about New Jersey's move to ban gasoline cars by 2035, as well as the options and soon-to-be real future of digital car keys.
Amid increasing US production and surplus inventory, EVs are seeing significant discounts. However, this buyer's market might not last long.
- OEMs from Ford to Tesla have been cutting EV prices in response to a surplus in the US, with some discounts up to 31%, making them competitively priced against gas powered equivalents
- For instance, the BMW iX, with advanced features like a touch-responsive sunroof and gesture-controlled stereo, is available at a 17% discount for $80,195. For more budget-friendly options, Nissan's Ariya is listed at an 18% discount for $36,690, while the Hyundai Kona Electric is offered in Atlanta at a substantial 31% discount, priced at $29,990.
- Elaine Buckberg, a former economist at General Motors and a senior fellow at Harvard University says,“The stories being written that it’s falling apart are just dead wrong.
- The aggressive pricing is likely reflective of an inventory imbalance that will regulate as EV sales are up 2.5 times in the last 12 months
2035 might just be the new 2030. Joining states like California, New York, and Colorado, New Jersey is doing what it can to speed up its EV Transition and has announced a ban on manufacturer sales of new gasoline vehicles by 2035.
- New Jersey adopts California's Advanced Clean Cars II regulation, aiming for 100% zero-emission vehicle sales by 2035.
- The rule mandates that 43% of cars produced by 2027 be zero-emission, increasing to 68% by 2030.
- This regulatory shift doesn't impose direct obligations on consumers or dealers, but significantly influences manufacturer production.
- The New Jersey Coalition of Automotive Retailers criticizes the move, citing concerns over consumer choice and affordability arguing the mandate could significantly disrupt the market, impacting both consumers and car dealers
Imagine a world where losing your car keys doesn’t matter? Some of the brightest minds are doing just that as digital keys are steadily making their way to center stage. While adoption is growing, questions around technology choices, security, and compatibility remain.
- Daniel Knobloch, vice president and a board member at Car Connectivity Consortium who also worked for over seven years as a wireless systems architect at BMW talks about the emerging tech in an interview on The Verge
- There are a variety of standards in play that each have pros, cons, and a chance of making it into your next new vehicle
- NFC: Near-Field Communication, UWB: Ultra-Wideband and Bluetooth.
Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.
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