Electrical shock

[Rach3]

From Axios tonight.My 2011 Rav4 ( ca.70000 miles on it now , paid $25K about 9 years ago ) looking very good:

Electric vehicle prices were supposed to be heading in reverse right about now. Instead, they're taking off, Nathan writes.

Why it matters: Automakers and independent experts had for years projected steady declines in EV prices as battery costs receded, making the environmentally friendly technology a more affordable replacement for gas-engine cars.

Driving the news: Ford announced today that it's raising the price of the F-150 Lightning electric pickup by about $6,000–$8,500, depending on the model, to a starting price of about $47,000–$97,000.

The announcement follows recent EV price increases by several other brands, including Tesla, Rivian, Lucid and GMC.

What they're saying: "We all wish there were more affordable [EVs] in the marketplace today — there are none," Edmunds analyst Ivan Drury tells Axios.

The average transaction price of an EV in July was $62,893, up 14.8% from a year earlier, according to Edmunds. That compares to an average of $47,198 for all vehicles in July.

And that number doesn't include direct-to-consumer sales of largely more-expensive models like Tesla, Rivian and Lucid cars.

Between the lines: EV raw material costs are more than double the average of internal combustion engine vehicle costs — $8,255 vs. $3,662 per vehicle, according to AlixPartners.

Yes, but: The popularity of certain models has also contributed to price increases, Drury says.

The bottom line: For EVs to spread to the masses, prices will need to come down — and there's "no indication" that will happen anytime soon, iSeeCars analyst Karl Brauer tells Axios.

[Belle]

Well, who in the world would have thought???!!!! My advice if you want one of these EVs: wait around till the prices fall (like they have with flat-screen TVs) and the bugs are ironed out of their systems. That will probably take about 5 years, I'm betting.

Meanwhile, when I see Combine Harvesters being run on batteries I'll be signing up for an EV. For now we'll stick with our very powerful 3.5 litre diesel Mercedes. My son bought a 20 year old Mercedes V8 for investment last year; it was in immaculate condition and with a better build quality than anything I've seen in the last 15 years. It flew along the highway but it was rear-wheel drive and literally reared up at the front when his foot hit the accelerator. (You need 4WD if you want speed and stability.) He was demonstrating the car's power for us and doesn't normally drive like this. Anyway, he sold it for a profit earlier this year. These powerful cars are in heavy demand because people know they're on the way out and will become collectors' items. Can't wait to see "Antiques Roadshow" with a V8 Mercedes diesel on it!!!