Tag Archives: Gadget

Cars traded up for like phones

Now this is an interesting article:

Upgrade envy has helped Apple Inc. sell millions of pricey iPhones. Now, it’s the auto industry’s turn, thanks to a raft of new technologies that make cars safer and easier to drive. Must-have features like parking assist and wireless Web access have helped automakers recover from the 2009 bust and charge record prices for their vehicles.

I can see this happening more with EVs than with ICE vehicles especially because over the next few years battery technology should be increasing. As an example several manufacturers have already announced plans for low cost longer range EVs (Nissan, Chevy, and Tesla).

As pointed out in the article vehicle technology is increasing at a more rapid pace but it still takes a good 2-3 years to move a vehicle into production. This makes a 3 year lease a good option for people who want to stay on the cutting edge of vehicle technology.

Of course not everyone can afford to continuously have a $300+ car payment. There still are quite a few people that purchase there cars with the intention of driving them well past the last payment–EVs should be good for that as there is less maintenance and less wear & tear on the drivetrain.