The Electric Dodge Charger May Be More Affordable than You Think

When it comes to the critics of the federally mandated transformation of the Dodge Charger into an electric vehicle, there are two main groups. The first is comprised of those folks who simply will not accept the idea of driving an electric vehicle, so they have nothing good to say about the electric Dodge Charger based on the fact that they have nothing good to say about any electric vehicles. The second group is made up of automotive enthusiasts who are not exactly opposed to electric vehicle technology, but they are concerned that the electric Dodge Charger will be so expensive that it will be unobtainable to the “average Joe”.

Dodge Charger SRT Daytona EV Concept

There is nothing that I could say to help the folks in that first group feel better about the electric Dodge Charger. Maybe they will be right, and the EV movement will be a short phase that goes away and we will all be buying new Hellcats again in a few years. I am doubtful of that, but I will keep my fingers crossed. As for the second group, I think that the fears of the electric Dodge Charger being far too expensive for a current Charger owner to afford are somewhat unfounded.

Dodge Charger Daytona

The issue stems from the fact that many people look at the Dodge Charger Daytona SRT Banshee Concept shown here – with a full carbon fiber floor, racing-style center lock wheels, racing-inspired carbon fiber seats, the gigantic brakes, a high tech dashboard and the 800V all-wheel-drive system that could yield well over 700 horsepower – and assume that the car will cost big money. They are right. The car shown here in production form will likely be fairly expensive, but everyone needs to keep in mind that this is a concept of the premium SRT Banshee trim level with additional Direct Connection components.

Dodge Charger SRT Daytona EV Concept

The electric Dodge Charger shown here, in production form, will be the future equivalent of the current Charger SRT Hellcat Redeye Jailbreak with Direct Connection parts added on. It represents the potential pinnacle of the upcoming Charger BEV – not every new electric Charger.

Dodge Charger Daytona Concept

The Charger will be offered in three trim levels and the SRT Banshee is the top of the line. The entry level is the Charger 340 with 455 horsepower while the mid-level package is the Charger 440 with 590 horsepower. These are both 400-volt models, which is the system used by most of today’s EVs, and this system should cost less than the 800-volt system in the Banshee. Click here for more on the 400V and 800V systems. I also don’t expect that the electric Dodge Charger in 340 and 440 models will have things like carbon fiber seats, the carbon fiber floor, the center lock wheels, the huge brakes and the same level of interior technology. When you remove all of those premium items and the pricier battery system, the price of the electric Dodge Charger should be comparable to the other top-selling EVs on the market today from brands other than Tesla.

Dodge Charger SRT Daytona EV Concept

Something else to keep in mind is that Dodge needs the electric Charger to sell well, so the brand isn’t going to issue a car that starts at $70,000. While the Banshee models may carry a price in that range (or higher), I expect the Charger 340 to be slightly more expensive than the current base model Charger. The current Charger starts around $37,000 for the AWD SXT model, so a tentative estimate for the base electric Dodge Charger would be in the mid-to-high $40k range.

Dodge Charger Daytona SRT Banshee Concept in Stryker Red

The Tesla Model 3 starts around $44,000 and the Ford Mustang Mach E starts around $46,000, both of which come standard with rear-wheel-drive. Dodge has stated the all-wheel-drive will be standard on all Charger BEV models at launch, so if the 340 model was priced in the mid-$40k range, it would be priced similarly to the popular Model 3 and Mach E while having an advantage of AWD. At the same time, the majority of the Ford Mustang Mach E models cost more than $50,000, as do all of the Tesla Model 3 with the dual motor, all-wheel-drive system. With that in mind, Dodge may price the Charger 340 in the $50k range and be in nicely comparable to the competitors.

Dodge Charger Daytona Banshee

Of course, some people will insist that $50,000 is still expensive, but when you look at the price of the competition and the price of the majority of today’s Dodge Chargers (the R/T Scat Pack is over $50,000 with destination fee), $50k is not much money for a new car.

5 thoughts on “The Electric Dodge Charger May Be More Affordable than You Think”

  1. With the economy in such a strange state it’s hard to argue that $50K isn’t a lot of money, comparatively, for a new full-sized car, especially an EV. And I understand that the average transaction prices have moved higher and higher year over year. But when you look at wages, which are rising, but not nearly as quickly as automobile prices are, I think you start running into fundamental problems with affordability. $37K for a base V6 Charger is way out of shape, in my opinion. Adding another $10-15K on top of that for an EV model is a really significant increase. For an auto loan at 6%, putting 20% down on $45,000, over 60 months you’ll pay almost $700/month. That is way out of the middle income comfort zone of $300-$500/month. I don’t know how they’re going to make this work unless they turn every first owner into a lessee and depreciate the cars before a retail purchase. Maybe that’s the strategy.

    • I think that you are somewhat out of touch with current new and used car pricing. Almost every truck and mid+ SUV sold in the US costs well over $50k, with the US average new car price in 2022 being $46,000 and trending upward. The average new vehicle payment in the United States in 2022 was $716 (which is about what I pay on my Hellcat) and $526 for used cars, and the majority of people making payments on vehicles are middle class and below.

      My first new car out of college (stratus R/T) was $435 a month and that was in 2002.

      If someone wants to buy a new vehicle and pay less than $50k, they are going to have to get a compact SUV at this point, and even those vehicles quickly climb over $50k with any options, unless you opt for a very small, low end (foreign) crossover.

  2. while the average sales may be around the $45K+ mark for a new vehicle, the fact is that is still fairly expensive for a new car.
    There are several issue right now plaguing the EV market and honestly it is partially due to the unfair stereotypes placed on EVs by the Tesla brand. Not to say that the whole EV movement doesn’t have its actual issues, but EV’s really aren’t appealing to the mass market for a number of actual reasons. Range and Recharge being two of the biggest concerns, followed closely by cost of maintenance. With an ICE engine, when things break, they can be replaced usually piece by piece. Doesn’t mean it’s not expensive but replacing a camshaft along with labor and supporting parts is alot cheaper than replacing a whole entire engine. Or replacing gaskets, or dumb things like that. that’s cheaper than replacing an entire battery pack on an EV or motor or anything like that. Range and Recharge are also issues that are concerning. No matter what any of these EV companies want to say, it takes less than 5 minutes to fill a ICE car up from empty and get 300mi or so to a tank. You can’t do that with an EV even with an 800V system. Not to mention that there aren’t as many places to charge an EV as there are gas stations. Is that changing, yes but still the amount of time it takes to charge an EV back to a comfortable range takes way longer than it does to even put a half of tank of gas in a car. EV’s have an advantage that they can be charged at home or at work or at the grocery store, etc. if there is access to a charging port but again, that’s not everywhere. If I wanted to drive from where I live just outside of West Philadelphia and say go to Daytona, Florida, I can’t just pull over as “gas up” in Georgia or North Carolina in a couple of minutes in an EV. Another thing is if my EV has an issue on the road, I can’t just pull over and put oil in it or something simple, the car would need to get towed back and have the entire powertrain (drivetrain) replaced because you can’t just replace a part on an EV, the whole thing has to be replaced, those kinds of things will probably cost as much as the car is worth so that is a point that really makes EVs unattractive to most of the working class segment of buyers. This ties in to another issue with the EV market to alot of buyers, especially in the Mopar brand. A lot of us, (and I’m not even going to bring in the enthusiast section of us yet) work on our own cars, to the best of what we can do. We dont mind changing out filters and simple stuff or just learning how our vehicles operate. Not speaking about hot rodding to and extent but just actual “car ownership.” It’s just what we do.
    Another thing that EVs have going against them is the stigma they have, thanks in part to the Tesla brand. A lot of people, when the think of EVs, thing of boring, minimalistic designed interiors that look like ikea level furniture with awkward feeling recycled material upholstery, goofy yoke steering wheels, silent, boring rides and just being completely disconnected from any kind of sensory feedback. They think of malfunctioning autonomous systems and a drive that is about as engaging as riding coach on a bus or a train or a jet. While those modes of transportation are great in their own way, that’s not why alot of people drive, especially not consumers attracted to the Mopar brands of vehicles. I will give credit where credit is due, I applaud the brand on the direction their going with EVs and the fact that they are doing what they can to address alot of these issues. Am I saying that I prefer EVs to ICE vehicles or V8s? NO, I am not. I’m honestly hoping that they will put alot of money into the Hurricane powered cars or find some way to have the v8’s live on. I honestly doubt the V8’s will survive with Mopar so I hope they can do what they can with the Hurricane family of engines, maybe some larger displacement variants (3.8L & 4.0L) or something. For, me, my thing is that if the brand is going to do EVs, they do need to do alot different than everyone else. They do need to be affordable and approachable by the brand’s target market, which happens to be enthusiasts. It’s not just about “feeling” like the car is shifting or just about being loud. It’s about actually mechanically shifting and sounding good. If the brand can make a CVT or even a 4-speed DCT (CVT would possibly be better) that could not only improve the range but make the car more engaging then why not do it? cars already have transmissions so it shouldn’t drive up the price to have something that every car already has. Whatever this next car is going to be, it needs to genuinely build on what the Challenger and Charger have been for the last several years, both EV and ICE version. The car needs to be a standout, it needs to be customizable. It needs to be a car for the masses, it needs jailbreak options, it needs suspension and brake packages, optional hoods, spoilers, steering wheels, grilles, lights, etc. That’s on both the 340 & 440 trim levels and the Banshee cars. The Ram REV needs Rebel and TRX type trim levels, we could use another Daytona pickup or “SRT10” type pickup and things like that. I’ve read about the potential HP numbers for the 800V system with the upcoming Alfa Romeo and Maserati vehicles whatever is coming looks promising. But when it comes to the Mopar brand, whatever it is has to really surpass anything that is out there in the EV market. Not just power wise, but the complete package.

  3. Another issue with EVs is the perceived forced method that is being used. While truthfully, it’s no different than the mandatory switch from Carburetors to EFI, the feeling that the government is forcing these new mandates on the auto industry in a supposed movement to “save the planet” and being carbon neutral just seems like a cover up, especially when there are tons of other things that are bigger contributors to global warming and everything else wrong with our environment than automobile emissions. Beyond just the fact that this a completely different method of propulsion than we are used to, there is also the worry about hacking, especially with autonomy. There are alot of things that genuinely contribute to the fact that people aren’t comfortable with EVs. While it may sound silly, movies such as Terminator and I-Robot, along with several others about the nightmare and terrors and problems of a “robotic, automated future” don’t help the EV cause either. Thoughts of EMP warfare shutting down vehicles and all of that kind of stuff also don’t help. Granted an EMP could disable alot of systems in our current vehicles but those facts don’t help.

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