This is essentially it. The surge in demand probably came from company cars and those who can afford to buy expensive cars, but now that demand has been met then sales have dropped off. We’re not yet in the market to replace our car but I do keep an eye on things, and every time I look at a new EV, they’re like 30 or 40k over what I’d be willing to pay.
I imagine it’s an issue of economies of scale, they’re more expensive because they’re producing less than ICE vehicles; the only way to get them cheaper would be for some heavy government subsidies.