MENU
SEARCHGrowth while luxury segment shrinks points to promise of mass adoption.
The base 2025 Chevrolet Equinox LT will have a base price of $35,000.
Chevrolet
Though growth of electric vehicles has been slower than automakers expected not too long ago, there are signs that it’s coming along.
The latest telltale indicator is growth of nonluxury EV sales, which rose from about 23% in last year’s second quarter to 27% this year, while luxury models’ share fell by about the same, according to Experian data.
It attributes the increase to automakers’ launch of more EV models.
The mass-market segment has so far been elusive for automakers due to EVs’ generally higher prices, but the availability of more lower-priced models could be a turning point toward mass adoption.
“With the EV clientele continuing to grow, there is an increased desire for functionality and affordability, something automotive professionals should keep in mind as they find ways to reach their respective audience,” said Experian Director of Product Marketing for Automotive Kirsten Von Busch.
"Chevrolet calls its electric Equinox SUV an "affordable game-changer" with a base LT version to have a starting manufacturer's suggested retail price of $35,000 for the 2025 model year.
“We are at a turning point where EVs will be the mainstream choice for the next generation of customers and Equinox EV will lead this charge for us,” said General Motors CEO Mary Barra in a press release on the Equinox’s new model year.
In another positive sign for EVs, Experian said most EV owners – 77% – replace theirs with new electric models. But they also tend to also own a gas-powered vehicle – 81% as of the second quarter.
“It’s possible that many are keeping a secondary vehicle to have the convenience of everyday driving while reserving the traditional fuel type for longer trips,” Von Busch said.
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Read More →
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
Read More →
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →
The agency sent warning letters to dozens of auto groups about what it described as illegal practices and urged them to ensure their pricing policies enable transparency with consumers.
Read More →
New-vehicle sales fell year-over-year for the fifth month in a row in February, making retail deliveries the slowest they’ve been since 2023, according to a CarGurus report.
Read More →
The automaker says its California skunk works is already finding efficiencies to lighten traditionally heavy electric vehicles for lower cost, plus extended range.
Read More →
Both vehicle values and conversion rates sped up last week as two segments outperformed in the pre-spring burst of buying.
Read More →
GM says it sells the cheapest electric vehicle in the U.S. market. It explains how it made improvements to the entry-level EV while keeping its price down.
Read More →
A Tennessee-based automotive group with deep industry history picked up the well-established Honda store, rebranding it.
Read More →
GM says more than 750 dealers across the U.S. are enrolled in CarBravo and that in January CarBravo dealers sold over two times the certified volume of Chevrolet, Buick and GMC dealers using traditional CPO.
Read More →
