Or you can get a 2022 Mercedes-Benz EQB, which is essentially an electric version of the Mercedes-Benz 2022 GLB small SUV. The EQB offers excellent space for up to seven people in a small footprint, four-wheel drive (AWD) that adjusts the grip between the axles for better traction, and the shock absorber – a starting price more than $10,000 lower than the Telsa. While you’ll have to settle for less range, the EQB gets about 260 miles between charges.
The EQB, Mercedes announced, will have a starting price of $54,500 plus a destination fee of $1,050. In addition, Mercedes electric vehicles (EVs) are also eligible for a $7,500 federal EV tax incentive that Tesla products do not have. That lowers the effective price you’d pay for the Mercedes to nearly $18,000 less than the Model Y.
New competition in EVs
The numbers underscore how the EV market is changing – and how not.
Tesla gained an edge over older automakers and became the first company to market electric vehicles on a nationwide scale. That lead made it dominated the mindshare: When Americans think of EVs, they think of Teslas.
But almost every automaker these days has at least one EV for sale, and some have many. Mercedes has promised to sell nothing but electric cars (in markets that have enough infrastructure to support them) by the end of the decade. The EQB is just one of many it plans to bring to US dealers. Many Mercedes dealers have already had EQS and EQE sedans on the lot (many of which didn’t stay there long as EVs sell out quickly nationwide).
Tesla still dominates the sales race
Tesla faces new competition from all directions.
Many of those competitors qualify for the big federal discount. It only applies to the first 200,000 electric cars an automaker sells, so both Tesla and GM have used up the discount. No one else has (although Toyota may at any time).
Still, last quarter, Tesla’s EV market share really grown† With exciting new EVs on sale from nearly every company, 75% of EVs Americans bought last quarter were Tesla products.