Demand stemming from skyrocketing gasoline prices and ongoing supply chain issues are making it difficult for some drivers to switch to an electric vehicle.
According to the automotive industry watcher edmunds“Shoppers’ on-site consideration of green vehicle pages (hybrid, plug-in hybrid and battery electric) at Edmunds increased 39% over the past month.”
Translation: many more of us are testing electric cars.
And along with that comes a higher than normal sticker impact.
“There are a couple of vehicles that have come out recently that are very, very popular,” said Joel Levin, CEO of Plug-In America, a consumer electric vehicle nonprofit.
“Initially, there has been very little supply because volumes are low, so distributors have been adding $3,000, $5,000, $10,000 to the sticker price because they can.”
But Levin said it’s important to note that all types of cars have seen price increases due to supply chain issues related to the pandemic. And he believes dealer price hikes are temporary.
UCLA Institute for Environmental Sustainability researcher Narayan Gopinathan agrees that rising electric vehicle prices are likely a short-term problem.
“The long-term trend of EV prices going down continues to occur, due to falling battery prices and improvements in technology,” Gopinathan said.
However, if you’re ready to go electric now, Levin offered some advice when shopping for an EV.
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A Tesla executive hinted that the automaker is offering cheaper electric cars before launching its robotaxi service. Tesla CEO Elon Musk recently said he was “embarrassed” by how expensive the automaker’s electric cars are right now. With inflation, the rising cost of battery materials and strong demand, Tesla’s prices have risen significantly across its lineup...
*** UPDATE: The new Energy Price Guarantee (EPG) announced on 8th September will replace the previously announced price cap of £3549/52 pence per kWh. The EPG means that electric cars will continue to be cheaper to fuel than gasoline and diesel equivalents. As of October 1, we have updated all story figures to reflect the...