Electric SUVs are slowly gaining more market share as the automotive industry moves away from internal combustion engines. Electric SUVs have the potential to become the most popular vehicles in the industry as automakers aim to electrify their lineups. These two Volkswagen and Toyota models could completely dominate the market in the years to come.
The Volkswagen ID.4 is taking over Europe, and America is next
The Volkswagen ID.4 is becoming wildly popular in Europe. Tesla dominated the electric vehicle market in previous years as one of the few major EV producers. Today, there are plenty of electric vehicles on the market to choose from. As a result, other automakers are beginning to challenge Tesla in the electric vehicle space. This isn’t great news for Tesla, but it’s amazing news for consumers. More competition means better electric vehicles and better deals.
The ID.4 has captured the hearts of many consumers because it is practical and affordable. Volkswagen has more experience producing automobiles than Tesla, and it may be able to avoid many of the electric automaker’s growing pains. One reason that Tesla is beginning to lose its lead is its frequent price fluctuations.
At one point, both the Tesla Model 3 and Tesla Model Y had starting prices under $40K. Tax incentives made the models even more affordable. Today, the Tesla Model Y is only available in Long Range, and Performance trims on the company’s website. The Tesla Model Y Long Range starts at a whopping $60,990 before incentives.
The 2022 Volkswagen ID. 4 starts at $40,760. After electric vehicle tax incentives, its price is closer to $33,260. It can travel for at least 245 miles before needing to recharge. Its electric motor system makes 201 horsepower. It has decent range, it’s spacious, and it provides an excellent ride quality. The ID.4 has everything it takes to dominate the electric SUV segment in the years to come.
The 2023 Toyota bZ4X is shaping up to be a major competitor
The 2023 Toyota bZ4X is the first electric SUV from the Japanese automaker. Toyota may be late to the game, but it is certainly aiming to make a significant impact on the overall market share. According to Road Show by CNET, Toyota bZ4X buyers will get an entire year of free EV charging from EVgo. Toyota has partnered with EVgo to provide free, fast charging, a deal that may be too sweet for some to refuse.
According to Kelley Blue Book, the bZ4X will have a starting price of around $36,000. After electric vehicle tax incentives, its price could be closer to $28,500. Between the bZ4X’s affordable price and Toyota’s year of free fast-charging offer, Toyota’s electric SUV seems to be the most economical model in its segment.
Toyota and Volkswagen will focus on practicality and affordability
Neither the Volkswagen ID.4 nor the Toyota bZ4X are considered to be the flashiest options in their segments. The Ford Mustang Mach-E offers more exciting performance specs. Volkswagen and Toyota can dominate the new electric vehicle market share by focusing on providing value instead of impressive performance specs.
Gas prices are reaching historic highs with no signs of decreasing anytime soon. Affordable, practical electric SUVs like the Volkswagen ID.4 are offering consumers an escape’ from the nightmare that is refueling a gasoline-powered automobile in America in 2022.