zzdcar
Home
/
Reviews
/
Buying
/
EVs Still Cost too Much, and Prices Are Still Rising
EVs Still Cost too Much, and Prices Are Still Rising-October 2024
2024-02-19 EST 22:09:21

2023 Nissan Leaf

Electric vehicle prices are . An analysis by shows that the prices of EVs outpaced the price of gas cars at a high rate, even as the prices of standard combustion-engined vehicles continue to rise.

While the price of all cars has been going up, the prices of EVs have shot up at a wild rate. iSeeCars analyzed data from 13.8 million vehicles sold between January and July in both 2021 and 2022. The data shows that ICE vehicle prices rose just 10.1 percent in July compared to the same time in 2021. EV prices, however, rose sharply, a staggering 54.3-percent in the same timeframe.

Of course, there are outside forces that can be factored in as the reason for the price increase. The, and prices for raw materials needed for components for EVs like are still going up. Plus, . While all EVs saw a price increase, some specific models saw more of an increase more than others.

Image for article titled EVs Still Cost too Damn Much, and Prices Are Still Rising

The list of EVs with the highest increases is sort of surprising. At the top of the list is the Nissan Leaf. The Leaf saw an $8,930 price increase between summer ‘21 and summer ‘22. Its average used price is nearly $29,000. The Chevy Bolt is second on the list, seeing a $6,417 increase and an average used price of $28,291. This one is interesting considering Chevy gave the Bolt a price cut to bring buyers back after its recall debacle. The rest of the list isn’t as surprising; Tesla has been bumping prices on models for a while.

Prices may not stay high forever, though. Executive Analyst Karl Brauer predicts moves like the Inflation Reduction Act will help as the tax credit reaches more models and brings more buyers in.

“More and more affordable new electric vehicles are entering the market, which means that used EVs won’t be as much of a novelty, especially once supply chain issues begin to improve,” he said.

But none of this is true yet. Cars are still becoming increasingly unaffordable,as their own data shows. And automakers seem reluctant to offer an EV with a decent range under $40,000, counting on the government to entice consumers with tax credits and rebates to bring prices down instead of just building cheaper models.

With automakers pushing forward on the electric transition and governments and states moving to effectively ban gas vehicles, some might want to slow down and take a step back and consider the affordability problem. Or this transition won’t go the way they think it will.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Let’s cut right to the chase: buying a is not a good idea unless you have deep enough pockets for the upkeep. For those not in the know, they’re sirens. They draw you in with their premium Italian image and sweet songs of and then go in for the...
Oct 28, 2024
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
Today’s Mustang is being sold by a towing yard, which means it’s probably a lien sale. Let’s see if this clean title convertible is priced to put a new buyer on the hook. The general consensus on last Friday’s was that it would be the perfect car for someone...
Oct 28, 2024
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
According to its seller, today’s Nissan 4X4 shows “pride of ownership.” Let’s see if it would take swallowing one’s pride to pay its asking price. Opinions were split on how well the design of yesterday’s has held up over the years. Some of you commented that the design still...
Oct 28, 2024
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
One of the calling cards of today’s Plymouth Colt is its “Twin Stick” overdrive gear change, which gives the car eight speeds going forward and two in reverse. Let’s see if this project car has anything else to offer. Just as Goldilocks discovered when appropriating Papa Bear’s lifestyle and...
Oct 28, 2024
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
The seller of today’s Caddy claims they should be selling it at auction but says who’s got time for that? Let’s see if we have the time for this custom convertible at its non-auction price. Many of you agreed that the $950 asked for yesterday’s was “chump change.” Even...
Oct 28, 2024
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
The (and Tacoma) have a death grip on used values. It’s been this way for years. Go ahead, go try and buy any TRD trim that’s a couple of years old; it’ll cost you as much as a new one — not that you could buy a new one...
Oct 28, 2024
Copyright 2023-2024 - www.zzdcar.com All Rights Reserved