I don’t know anyone who would hesitate at $15k considering current state of the auto market. I do know there’s lots of middle class and below who would finance it and give it a chance, versus a $500-$1000 monthly note at current vehicle prices and interest rates.
Average price of a vehicle is not a good metric for this. If a bunch of Americans finance $150k trucks (and they do!), that inflates the average, but it's not relevant.
What's relevant is the lowest price for the economy/compact model of a mainstream brand, which seem to be around $20k. For a $5k difference (or less) I don't know if gambling on a new Chinese electric car would be that attractive.
Those high prices were in a period of both low interest rates and, during the pandemic, limited supply pushed to the most expensive models. I will be surprised if they stay that high under current interest rates and economic concerns.
https://www.consumerreports.org/cars/buying-a-car/people-spe...
I don’t know anyone who would hesitate at $15k considering current state of the auto market. I do know there’s lots of middle class and below who would finance it and give it a chance, versus a $500-$1000 monthly note at current vehicle prices and interest rates.
https://www.cbsnews.com/news/auto-loan-average-payments-2023...