By Randy Lertdarapong
We live in time where technology is rapidly evolving. Alternative fuel sources are being researched and developed. With new technology comes new price tags and cars already come with an expensive tag.
According to TrueCar.com, the average transaction price for a new vehicle set an all-time high in August of $31,252.
With new emerging technologically advanced cars slowing replacing tradition cars, would they be viable options for the average consumer?
The first base model reviewed is the Tesla Model S. This model is powered by a 70 kilowatt-hour (kWh) Battery. With a single charge, the car is capable of 240 miles.
The engine has 328 horsepower (hp) and tops out at 140 mph.
Electric vehicles are less expensive to fuel than gasoline powered vehicles.
The average person drives between 10,000 and 15,000 miles and spends between $2000-$3000 on gasoline per year.
The advertisements on the website claims that the consumer would be saving up to around $10,000 in gas savings over a five year period.
So how much would a base model cost? The base model without any additional features or upgrades starts at $70,000.
If you were to take out a five-year loan payment, you would have a monthly payment close to $1200 a month and that is without interest or an APR included.
It seems that Telsa didn’t have the average consumer in mind when developing this car.
Nissan has recently released their own electric car.
The 2015 Nissan Leaf comes stocked with 80 kW AC synchronous electric motor.
Its top speed is 90 mph with a range of 84 miles on a single charge.
The Leaf is dwarfed by the Tesla in terms of range and speed; however, the price is comfortably more reasonable. The base model starts out with a price tag of $29,010.
You can lease this car for $199 per month, over a span of 36 months.
The downside of having only a range of 84 miles, you would need to stop and recharge your car often. Using a 240 volt outlet, it would take the Leaf 8 hours to fully charge from an empty battery.
You can’t plan any road trips with this model, unless you plan on stopping often for long periods of time. The car is, however, perfect for community to school or work.
EVX Ventures is an electric car company startup based in Melbourne, Australia. They have the idea of creating a car fueled by solar power alone.
The exterior of the car would be composed of solar panels that would store energy into a lithium battery. They are calling the car “The Immortus.”
According to the co-founder and CEO Barry Nguyen, the car will be capable of reaching up to 100 mph, with the combination of battery and solar power.
Without the assistance of the battery, the car can reach up to 50 mph with just solar energy. EVX plans to unveil their new design at the Specialty Equipment Market Association (SEMA) Show 2015 at the Las Vegas Convention Center in November.
With its eventual release, the expected retail for “The Immortus” will be around $370,000.
New technology comes with a high price. Even with the affordable Nissan Fit, it starts at $29,010. You would also be sacrificing distance and time to recharge your car.
As new technology replaces the old, we would see price drops in the future. As of right now, traditional cars serves their purpose for a more reasonable price.
Electric vehicles are great for the environment but are still out of reach for the average consumer. As manufacturers slowly integrate alternative cars, traditional cars will be phased out. By then, perhaps an electric vehicle’s price would be within reason.
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