Daimler-Mercedes-Benz is making a killer move in trying to corner the Electric Vehicle (EV) market when it unveiled its all-electric SUV, the Mercedes Benz EQ, at the recent Paris Motor Show. The German automobile manufacturer is hoping that its new EQ will have a range of up to 310 miles (500 kilometers) on a single charge. At least 10 production models of the car are expected to hit the streets by 2019. Mercedes also announced earlier that the electric SUV will fall in the same price range as its GLC Crossover at $39,150. This is definitely a direct challenge to Tesla’s Model X that is planning to come out at a price tag of $100,000 and with a range of just 320 miles. Another scare for Tesla is that Mercedes’s EQ is an SUV, something customers much prefer compared to the compact models such as the Model X or Chevrolet’s Bolt.
Another factor is that the interest in the purchase of small cars has been going down based on sales since 2105. It would seem that smaller cars are now being bought more from used-car shops since they tend to be much more cheaper now because the demand for SUV’s and pick-up trucks is going way up high. In the first two quarters of 2016 alone, total global small car sales fell over 12 percent while pick-up truck and SUV sales went up by 2 percent. So Mercedes is definitely spot-on in attempting to capture the electric car market by investing in a solid and all-electric SUV. Even if electric cars (and self-driving cars) have yet to even capture the imagination of consumers, pushing the EV market with SUV’s makes pure sense at a time when consumers are turning away from small cars.
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Even Daimler Mercedes officials admit that their biggest sales lately are focused on SUV’s. This is the market they plan to capture as well as future buyers and investors driven by the SUV buying fever, and what better way to do this than to manufacture an all-electric SUV. Even if Tesla were to produce a Model X SUV, its price would still be around a hefty tag price of $80,000, good only for the luxury car market. But then, Mercedes may have their work cut out for them in concentrating only on getting one over on Tesla. Other automobile manufacturers are now also attempting to cash on the electric SUV market. While Chevrolet will soon be releasing its all-electric Bolt by the end of 2016, it also planning to release an SUV crossover Bolt model by 2019. Thought the Bolt only has a range of 238 miles, the crossover SUV may exceed the 300 mile mark. Audi and Hyundai are also planning to roll out their all-electric SUV versions by 2018. Volkswagen, still reeling from the Emissions Scandal, is set to redeem itself by revealing its five electric SUV’s by 2020. Volvo is also set to join in the fun by 2019 with its SUV EV.