• Jan 29, 2009
Sporting six-figure price tags, many of the electric cars that are available today are only affordable for the wealthy. If these eco-chariots are to find homes, the question becomes, "Do rich people even want electric cars?" The answer, according to recent polling conducted by Bain & Co is a resounding "Yes!" In fact, the survey found that demand is actually highest among those who already have a luxury car in their garage. Understandably though, they would prefer to buy a vehicle produced by a brand they are familiar with, like Mercedes or BMW. They are ready to buy now and don't mind that it might have a limited range since they already have a vehicle for longer distance trips. The biggest problem is that there aren't any for sale yet. Yeah, there are lots of plans for electric cars but not much (and nothing from the big OEMs) sitting on showroom floors. Bummer, dude.

On the "plus" side for those of us worth less than a fortune, the study had some good news. It speculated that the price of batteries should fall greatly over the next few years, making it soon possible to offer $26,000 electric cars. At those prices, Bain & Co estimate a market between 150,000 to 175,000 units a year.

[Source: Business Week]


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