$23,750: The Electric Car Price Hot Spot

Auto industry analysts Pike Research has discovered the price that electric cars need to be before most buyers will consider them to be viable alternatives to their gas-drinking cousins. That perfect price is $23,750.

Explaining this sweet-spot figure, Pike analyst John Gartner said, “The optimal price point for selling a plug-in electric vehicle where consumers would feel that they were neither too cheap nor too expensive is $23,750, which is $10,000 to $15,000 or so less than current plug-in electric price tags.”  Big steps forward in technology are going to be needed to produce this kind of cost-cutting; for now, too few consumers are willing to take on an auto loan for a new car of this price, just to save a few bucks on gas.

Pike surveyed more than 1,000 people to come to their conclusion as to which prices make a vehicle a bargain, too cheap, expensive, or too expensive.