Electric Vehicles, The New Trend in Luxury Cars

The luxury all-electric vehicle market has pretty much belonged to Tesla for the past several years, however, what we saw at the just-wrapped-up Frankfurt Auto Show suggests Tesla will no longer enjoy the limelight all to itself.

Automakers Porsche and Audi are ready to start racing on the ecological track as we saw last week in Frankfurt. Porsche unveiled its Mission E, which channels Porsche’s sports car styling and may inspire a production car within three years, while Audi’s e-tron quattro concept car hinted the production of a luxury crossover to compete with the Tesla Model X, released this month.  Other manufacturers in the luxury segment will undoubtedly join as well since apparently, EVs are a goldmine. Tesla’s success is due mostly to government subsidies in different countries and other automakers want to join in on the rewards.

It makes sense that electric vehicles be tied with the luxury segment. After all, the cost of rechargeable batteries is too high and while we may all want to protect our environment, most car buyers are not particularly keen on protecting the environment at their own expense. The luxury market however, is not about saving money, but rather about making a statement. 

The appearance of such rivals will present a serious challenge for Tesla. Tesla has been the unchallenged leader in this market only because it has produced something innovative, however, the brand is not particularly dexterous in selling tactics, unlike its new competitors. Furthermore, the new models presented by Porsche and Audi are equally capable in their EV qualities to the Model S and exceed Tesla’s luxury and general car qualities, such as a comfortable interior, stylish finishes, effective soundproofing, etc.

So it seems as though electric vehicles will become a trend on the luxury auto market and EV buyers will have a much wider range of vehicles to choose from.