Friday, May 10, 2024

'Auto Trends' Talks To Two Pioneering Black Households Owning Multiple Electric Vehicles (Extended Video Conversation)

Dr. Reggie Tucker-Seely (l) and Dr. India Calhoun Williams (r) households have owned multiple new and used electric vehicles. (Photo Credit:TSICWGD)

For the first time, Auto Trends with JeffCars.com, the only weekly syndicated multicultural automotive program in North America, is talking to two Black pioneering households, who have owned multiple electric vehicles, both new and used.

Dr. Reggie Tucker-Seely and Dr. India Calhoun Williams, who are based in California and Georgia, respectively are considered early adopters in the electric vehicle movement. While only 7 to 8 percent of the U.S. population currently owns electric vehicles, both the Hispanic and Black community are barely a drop on the radar. 

On the other hand, white men and the Asian community are driving electric vehicle sales in the U.S. 

Here's pricing being offered by one of the public EV charging stations. Prices vary just like at gasoline stations. (Photo Credit: JeffCars.com) -- Tap on the image to enlarge the pricing.
 

For a myriad of reasons, many minorities haven't jumped on board. Affordability and lack of infrastructure have led many to steer clear of this next phase of driving. This evolution was probably the same phase the world went through as we transitioned from horse and buggies to motorized vehicles. It didn't happen overnight.

Based on recent reports and an April 2024 radio conversation with Bloomberg Intelligence's global chief automotive researcher Kevin Tynan, new vehicle affordability is at a two-year low. 

What this means for consumers is that as of March, with the average transaction price of a new vehicle being $47,000, according to Cox Automotive, things are headed in the right direction. This time last year the head Toyota was expecting for new vehicle transaction prices to hit the $50,000 mark for the first time. Fortunately, for consumer pockets, it didn't happen.

Just over the past few months, the dip in electric vehicle prices have been the primary driver in the overall transaction price decline in the industry. Several electric vehicles manufacturers have slashed prices at least twice this year.

In fact, depending upon the region one is located, Lexus only fully electric vehicle, the RZ, which shares a platform with Toyota and Subaru, is available with discounts up to $22,000. To put this in perspective, as we discussed with the head of the Lexus U.S. brand, Dejuan Ross, on a recent program, the fully electric vehicle might be more affordable than their entry-level UX hybrid, which has a starting price around $36,000, before any applicable discounts are applied.

Just two years ago, consumers were paying sticker plus for most vehicles. For example, in June of 2022, consumers were paying an average transaction price of $66,000 for electric vehicles. Fast forward  to March of this year, and the average transaction price has dropped like a rocket to about $54,000. 

And analysts expect the prices will continue to slide in reverse over the next few months, as automakers attempt to manage an oversupply of inventory in the electric vehicle segment. 

So, for those who are ready to dive in, it might be time to pull the trigger, while the industry is in flux, transitioning from gasoline to hybrids to plug-ins to fully electric vehicles. 

Currently, there are a handful of both new and used vehicles available on the market for under $30,000. When discounted, even more are available in the $30,000 range. Some could be purchased using federal and/or local states incentives to help offset the cost, depending on one's income and/or dealer incentives.

Andre Hudson, Mullen Automotive's vice president of design, debuted the Mullen Five RS concept vehicle at January's Consumer Electronic Show. The athletic four-seater crossover spews out a whopping 1,000-horsepower. The Mullen Five RS could be available for consumer purchase in the near to distant future. (Photo Credit: MA)

With that said, Dr. Tucker-Seely and Dr. Williams joins us this week to talk about their electric vehicle ownership experience. Prior to owning electric vehicles, they had already tested the streets, no pun intended, with diesel and hybrid cars. Both hybrids and diesels offer more miles per gallon than traditional gasoline powered cars.

Today Williams drives a 2024 Hyundai Ioniq 6, with the extended range, while Tucker-Seely wheels around L.A. steering clear of gas stations in his 2023 BMW i4. Unlike Williams, who still has gasoline vehicles at her home, Tucker-Seely household also keeps a plug-in their garage.  

During the first of its kind conversation with Black electric vehicles owners, our pioneering guests will talk about everything from selecting and installing a home charger to how it affects their electric bill. They'll also discuss incentives or special electric rate plans that might be available to help offset home charging expenses.

Furthermore, they'll share their experience with using public chargers to maintenance expenses one should expect, since oil changes are no longer required. They'll also tackle the concerns regarding electric vehicle public charging deserts in some Black communities to taking out of town road trips to dealing with range anxiety.

In essence, almost any question or concern one has had about electric vehicle ownership will be unearthed during the program.

Before making the leap into the electric world and after tuning in to today's program, consider renting an electric vehicle for a few days. 

Airs On SiriusXM And Free On Other Radio Outlets 


To Tune In 

To hear the conversation, tune in to Auto Trends with JeffCars.com on Saturday, May 11 thru Thursday, May 16. The program will air on SiriusXM 141 and on several FM radio outlets. To access the schedule, click here.





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