Electric Cars Narrow Price Gap with Gas Vehicles, Analysis Shows
By
Keith Barry
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
Electric vehicles (EVs) are becoming more cost-competitive with gas-powered cars. In February, the average new EV sold for $55,300 — about $6,500 more than gas vehicles, the smallest premium on record. Large automaker rebates are common, and some used EVs now cost less than their gas equivalents. Charging an EV is typically hundreds of dollars cheaper per year than fueling a gas car. Consumer Reports analyzed energy costs, tax credits, and hidden discounts to determine whether an EV saves money.
Key quotes
· 3 pulledIn February, the average new EV sold for $55,300, which is about $6,500 more than the average new gas-powered vehicle and the lowest premium on record.
Large automaker rebates are common (see the best deals on EVs), and some used EVs are actually selling for less than their gas-powered equivalents.
The cost of charging an EV is almost always hundreds of dollars less per year than the
You might also wanna read
Electric Vehicle Resale Values Collapsing Faster Than Gas Cars
Electric vehicles are experiencing rapid depreciation worldwide, with resale values collapsing much faster than traditional gas-powered cars
restofworld.org·8mo ago
Tesla Used Car Prices Fall Below Market Average
Tesla used car prices are declining significantly, now costing less than the average used car, despite Tesla being a premium brand. This tre
electrek.co·10mo ago
US Electric Vehicle Market Faces Decline After Subsidy Expiration
The article discusses how the US is falling behind in the global electric vehicle (EV) race despite a recent surge in demand. The temporary
bbc.com·8mo ago
BYD surpasses Tesla and Kia to become top-selling EV brand in UK and other overseas markets
BYD has become the best-selling EV brand in the UK with over 7% market share in 2026, surpassing Tesla, Kia, and Volkswagen. The Chinese aut
Electrek·1mo ago
Tesla's U.S. EV Market Share Drops to 38% in August, Lowest Since 2017
Tesla's U.S. electric vehicle market share dropped to 38% in August 2023, marking its lowest level since October 2017 and falling below 40%
reuters.com·9mo ago
BYD's EV Strategy Succeeds as Rising Fuel Prices Drive Electric Vehicle Adoption
BYD, the Chinese automaker that stopped producing internal combustion engine vehicles in 2022, is experiencing increased electric vehicle sa
electrek.co·2mo ago