Automotive
Electric vehicle purchase premiums fall to under ten percent
Jalopnik reports that the price gap between electric and gas models shrank as fuel costs climbed.
The short version
- The purchase premium for a new electric vehicle over gas-powered cars fell to 9.4%, down from over 16% a year earlier, with new EVs averaging $54,813 in August.[Jalopnik]
- Higher gasoline prices, rising 36.6% to reach $4.36 per gallon, outpaced electricity rate hikes of roughly 5%.[Jalopnik]
- Charging costs vary widely, as home electricity averages 18.34 cents per kilowatt-hour versus 55 cents for public DC fast charging.[Jalopnik]
Key facts
- The price premium for a new electric car over a gas-powered alternative narrowed to 9.4%, down from over 16% in August of the prior year.[Jalopnik]
- The average transaction price for a new electric vehicle stood at $54,813 in August.[Jalopnik]
- Gasoline prices increased by 36.6% to $4.36 per gallon, while residential electricity costs rose roughly 5% year-over-year.[Jalopnik]
- Average public DC fast charging rates reached 55 cents per kilowatt-hour, compared to a national residential rate of 18.34 cents.[Jalopnik]
- Used electric vehicle prices climbed 7.4% year-over-year in June, reversing earlier steep depreciation trends.[Jalopnik]
What remains uncertain
- Whether used EV prices will sustain their recent rebound remains uncertain given earlier data showing five-year depreciation rates over 57%.[Jalopnik]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.