As auto costs rise, will the US miss the golden age of electric vehicles?

I've been getting the same question from friends and neighbors for months now: "Should I just wait?" The answer used to feel simple, but watching new-car transaction prices climb while affordable EV options stay thin on the ground has made this buying moment genuinely complicated. A new piece from The Guardian puts hard numbers to the squeeze American shoppers are feeling, and honestly, the picture isn't pretty.

The Affordability Gap Is Real — and Growing

Here's the pricing reality most shoppers sense but rarely see spelled out: the average new vehicle transaction in the US hit $48,402, up roughly $11,000 in just a few years. Even more telling, fewer than 5% of new vehicles sold last year carried a sticker under $25,000 — down from nearly 21% in 2019. So when buyers tell me "nothing's affordable anymore," they're not exaggerating.

Meanwhile, the global EV market is sprinting in the opposite direction. In China, more than 200 EVs and hybrids are available for under $25,000. In the UK, roughly 20% of December's new car sales were Chinese-made vehicles. Even with new EU tariffs in place, Chinese brands captured about 6.4% of European sales. The Guardian frames this as a potential "golden age" of cheap EVs — one that simply isn't reaching American driveways because those imports aren't legally sold here.

What Slate Auto Means for Your Shopping List

The most concrete US response so far is Slate Auto, a Detroit-based, Jeff Bezos-backed startup that began accepting preorders last week. Its pickup starts at $24,950 — genuinely one of the lowest prices in the country and roughly half the average transaction.

But before anyone gets excited, the everyday-utility reality matters:

• Range: an estimated 205 miles — fine for a grocery run and daily commute, but it won't cover long family road trips without charging stops.
• Size: at 14.5 feet, it's shorter than a Corolla. Think 1980s Ford Ranger proportions, not modern crew cab.
• Trim reality: hand-crank windows, no stereo, no speakers, no ambient lighting, a smartphone mount instead of built-in navigation, and standard (not adaptive) cruise control.
• Price creep: $24,950 is the entry point. Stereo, fob, SUV conversion kit, vinyl wraps — the add-ons that make daily life tolerable push the out-the-door price north fast.

Jessica Caldwell from Edmunds nailed the comparison for me: Slate is the budget-airline model. The base fare gets you on the plane, but the seat selection, baggage, and snack pack are where they get you. I'm skeptical too that bare-bones works at scale for US buyers who expect more out of the showroom.

Where This Leaves a Practical Buyer

Slate is one of only eight new US models available under $25,000. That's your actual short list right now if budget is the priority. The Guardian piece quotes Dan Krassner of the American EVs Jobs Alliance warning that the US risks ceding the EV manufacturing race to Beijing — and the political urgency may translate into tax rebate changes or new incentive programs worth watching over the next budget cycle.

For now, my honest take: if you're shopping today and need an EV under $25,000, Slate deserves a look — but go in knowing the base price is a starting line, not a finish line. Build your realistic out-the-door budget with the add-ons you'd actually want, compare it against used EV inventory and remaining 2025 inventory discounts at dealers, and keep an eye on federal incentive negotiations before you commit. The affordable EV wave is real globally. In the US, we're still waiting for the tide to come in.