Tram The prices are keep increasing. An analysis of iSeeCars shows that electric vehicle prices are higher than gas prices at a high level, even as the price of standard internal combustion engine vehicles continues to rise.
While the prices of all types of cars have increased, the price of electric cars has increased at breakneck speed. iSeeCars analyzed data from 13.8 million vehicles sold between January and July in both In 2021 and 2022. Data shows that the price of ICE cars only increased by 10.1 percent in July compared to the same period in 2021. Electric vehicle prices, however, has surged, a staggering 54.3% in the same time frame.
Of course, there are external forces that can be seen as the cause of the price increase. The The global chip shortage is still happeningand prices of raw materials needed for components for electric vehicles such as lithium is still increasing. More, High gas prices create demand for electric vehicles. While all electric vehicles have increased in price, some specific models have increased more than others.
The list of EVs with the highest gains is surprising. Topping the list is the Nissan Leaf. The Leaf raised its price by $8,930 from summer ’21 to summer ’22. Its average used price is close to $29,000. Chevy Bolt is second on the list, raised $6,417 and the average used price was $28,291. This is very interesting as Chevy gave Bolt a controversial discounts to bring buyers back after its recall. The rest of the list is not surprising; Tesla has been slashing the prices of models for a while.
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Prices may not stay high forever, though. iSeeCars Executive analyst Karl Brauer predicts moves like the Inflation Reduction Act will help as tax credits reach more models and attract more buyers.
“More and more affordable new EVs are entering the market, which means used electric vehicles won’t be so new, especially as supply chain problems kick in. improved,“I said.
But none of this is true. Cars are still becoming increasingly underpricede, as their own data shows. And automakers seem reluctant to offer an EV with a decent range of less than $40,000, relying on the government to lure consumers with tax credits and rebates to lower prices rather than just building them. Build cheaper models.
With automakers pushing for the electric transition and governments and states effectively banning gas-powered vehicles, some may want to slow down and back off. one step and consider the issue of affordability. Or this transition won’t turn out the way they thought it would.
