This reasonably-priced sedan aims to get even more Chinese drivers out out of their ICE cars, and in to EVs. The Geely Galaxy E8 is sized and priced similar to a Honda Accord.
It’s kind of depressing to see the EV prices available in China and compare it with the prices available in Europe. Hell, there are only three sub-30000€ EVs available on the German market, after two models were discontinued last year
In the USA you can get like $7000 back from the government when you buy an EV, but the manufacturers are hip to that and price them to absorb that credit. Then of course that doesn’t help anyone buying them used or certified pre-owned. Oh, and they were talking about eliminating that credit last time I checked. QQ
In fact the article is guilty of doing exactly what you’re talking about! Doing a direct conversion from RMB into USD without adjusting for PPP, basically throwing out all CoL differences, is what leads to stupidity like this article.
It’s kind of depressing to see the EV prices available in China and compare it with the prices available in Europe. Hell, there are only three sub-30000€ EVs available on the German market, after two models were discontinued last year
In the USA you can get like $7000 back from the government when you buy an EV, but the manufacturers are hip to that and price them to absorb that credit. Then of course that doesn’t help anyone buying them used or certified pre-owned. Oh, and they were talking about eliminating that credit last time I checked. QQ
Less depressing once you adjust for purchasing power
The exchange rate does not directly correlate to purchasing power. There are many factors that go into it.
The other poster didn’t say anything about the exchange rate, they said Purchasing Power. According to OECD (2024), Purchasing power parities (PPP) (indicator). doi: 10.1787/1290ee5a-en (Accessed on 09 January 2024) the PPP (Purchasing Power Parity) between USD and the Yuan was 3.989 for 2022. So a 25k vehicle in the PRC is basically a 100k vehicle in the USA. You can purchase some excellent EVs in the United States for $100,000.
In fact the article is guilty of doing exactly what you’re talking about! Doing a direct conversion from RMB into USD without adjusting for PPP, basically throwing out all CoL differences, is what leads to stupidity like this article.
Yes, I read the article where they only provided the exchange rate.
I wouldnt be too worried. the destruction they are wreaking is making for some great entertainment.