Only 1 EV Was Is a Good Value According to Consumer Reports
The Volkswagen ID.4 was the only electric car deemed a good value in Consumer Reports’ satisfaction ratings. Find out why here.
Written by Allison Stone
Reviewed by Serena Aburahma
The
Volkswagen
ID.4 may not have the highest overall score on Consumer Reports’ (CR) rankings of hybrids and EVs, but it did earn the only “good” value rating out of all EVs. CR
ranks vehicles based on feedback from real owners and then aggregates that information into an overall owner satisfaction score. While many new owners of EVs seem to love other factors like the driving experience, comfort and styling, value scores for EVs are notoriously low.The car insurance super app
Jerry
takes a closer look to learn why this might be the case and explains how electric automakers can increase the perceived value of their products. Why EVs aren’t considered a “good value”
Electric cars are more popular and accessible than ever, but there are still massive barriers in place toward mainstream acceptance and ownership. The biggest challenge EVs face is affordability.
People who choose to buy an electric car are generally motivated by some pretty good reasons. EVs are environmentally friendly, high-tech, stylish, and can save drivers tons of money on gas, but the average upfront price for an electric car is over $66,000 according to
Kelley Blue Book
estimates. That’s about $18,000 more than the average price of all new vehicles when including conventional cars. Due to their higher overall price, shoppers are most likely buying one in spite of the price, rather than because of it.
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Why the ID.4 scored well
While it's hard to say exactly why owners of an ID.4 considered it a good value compared to rival electric SUVs, it is very competitively priced. At $41,230 to $49,410, the ID.4 is not the cheapest EV on the market, but it delivers in a way that corresponds well with its value.
CR also praised the ID.4 for not only being on par with some more expensive competitors but even outperforming the Mustang Mach-E and Tesla Model Y in its comfort and handling.
Overall, while the ID.4 isn’t cheap, it offers a high-end luxury EV experience at a more reasonable price point. CR recommends the 295-horsepower all-wheel-drive model which offers a slightly more powerful performance while still maintaining a reasonable 250-mile range.
What will make EVs a good value?
Costs for EVs remain high because automakers are facing challenges with supply chain shortages, high costs of raw materials, and ramping up manufacturing efforts.
Until production costs for EVs can come down overall, they will likely continue to occupy their current space in the marketplace as a slightly more luxury, niche item.
In the meantime, you can browse some of our picks for the
best affordable electric cars
of 2022. This list includes the ID.4, but it also features even more affordable options like the Nissan Leaf, the Mazda MX-30, the Mini Cooper Electric, and the Hyundai Kona Electric.To save even more, download the Jerry app to get the best deal on
car insurance
. In less than 45 seconds, Jerry collects all of your information from your existing insurer. Choose from competitive quotes from top insurance companies and Jerry takes care of the rest—securing your new policy and helping you cancel your old one upon request. The average Jerry user saves over $800 a year.
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