American automakers have some explaining to do.
According to new reporting from Reuters, you could buy up to five Chinese electric vehicles for the average price of a single new car in the US.
It’s a startling comparison that encapsulates China’s unquestionable dominance in the EV space, and indeed its position as the largest car manufacturing nation in the world. The other side of that equation is how US automakers have rested on their laurels, content to push overly large and expensive cars on their customers — not to mention the US’s foremost EV company, Tesla, still being caught in a downward spiral under Elon Musk’s erratic leadership.
Let’s break down that headline-fueling comparison. Reuters cites Kelley Blue Book data showing that the average price of a new set of wheels in the US in March was $51,456. (Go figure that the percentage of Americans taking out predatory 84 month car loans is higher than ever.)
In China, meanwhile, there’re more than 200 EVs and hybrids for sale at less than $25,000 according to data from DCar cited by Reuters.
Of this category, the five best selling Chinese EVs that start under $12,000 could all be bought for around that beefy $51,456 price tag. These cars won’t match up in size to behemoth US vehicles, but they’re more than capable — and arguably just as stylish as well.
The crème de la crème among this Cheap Five is the Geely EX2, a subcompact hatchback that was the top-selling car of any kind in China last year. It sells for just $10,060, and for that you get all the bells and whistles you’d expect from a modern car — giant infotainment screen and all — and a surprisingly roomy interior. The top trim has a battery range of 314 miles, based on Chinese testing standards.
“When you get in, you don’t feel like you are in a small car,” auto analyst Felipe Munoz told Reuters. “It feels better in terms of quality and bigger in terms of size.”
Mike Floyd at Motor Trend agreed. “We can say anecdotally that it’s borderline huge inside for a car of its exterior dimensions,” Floyd wrote. “I’m six feet tall, and I sat in the back during one of the autocross runs and had several inches of legroom and a couple of inches of headroom. Super impressive.”
In other words, it’s almost mindblowing how much new car you’re getting in China for just ten grand. Stateside, $10,000 might get you a ten year old, gas guzzling sedan with over 100,000 miles under its belt.
It’s also a testament to the diversity of sizes on offer from Chinese automakers, whereas American automakers have narrowed their fleets to comprising ever larger cars. The US big three automakers have almost entirely abandoned selling sedans; Ford and Chevy don’t sell any sedan models at all.
Caution should be taken not to breathlessly pour praise on Chinese automakers, since they also have their ups and downs — though the numbers here speak for themselves — but it’s a sobering reality for US companies nonetheless.
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