Battery prices are falling, so why are electric cars still so expensive?

It's 2025 - prices are based on value, not costs.

If batteries are costing less, this means higher profits for car maker, not lower prices for buyers.

I don't see mention of protectionism here, i.e. keeping lower cost players like BYD out of the US market (whose price point was ~$30k iirc)

They're basing an assessment of car products on one market, and picking an unusual one? Weird.

Lack of competition, keeping prices high by silent agreement, it's everywhere, not just cars.

A lot of governments stopped subsidising electric cars. And now the rise of tariffs.