EVs Now Cost Less Than An Average Car

Torsten Dettlaff Pexels

In poll after poll, one reason Americans do not buy electric cars is that they are too expensive. It is hard to calculate whether that is true. The average price of a new car is about $43,000. Some EVs cost less than that, particularly if hybrids are included in the calculation.

More EV News –Best Selling EVs In America

According to a new analysis, EVs are actually cheaper than the average car sold in America. Once again, the comparison depends on the definitions. Bloomberg writes, “The average EV now comes with about 300 miles, and with a few of those models selling for less than the average car, others will surely follow. The IEA says price parity will be the norm by 2030.”

But what about EVs with shorter ranges? In that case, a new gas car may be better. What about the federal tax credit of $7,500? How does a gas-powered car compare to an EV under those circumstances? 

What About Leases?

How do the two types of cars compare with leases? Bloomberg says that dealers often include federal credit in lease payments. If so, an EV lease can be very attractive. 

The American consumer needs clarification on the affordability of EVs. The number of points in comparison with cars can be over a dozen.

It will be a long time before the base prices of EVs fall enough for an apples-to-apples analysis to be possible.

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