The average new car in America sold for about $48,000 last month. But not the average electric vehicle (EV). Those sold for a little over $66,000 on average.
About 5.6% of the new cars Americans bought last quarter were EVs. Studies have begun to suggest that the U.S. has crossed a crucial tipping point in EV adoption. Americans may put electric cars in their driveways and parking spots faster as EVs grow more familiar.
But early EV prices remain a problem for many new car shoppers.
Time Will Bring Prices Down
New technologies are usually expensive for early adopters. Economies of scale gradually bring prices down as manufacturers pay off their investment in the research that helped design them and the equipment that builds them. The same will inevitably happen to electric cars.
But that doesn’t mean that buying an affordable EV is easy now.
But You May Not Have to Wait
Automotive press veteran Matt DeLorenzo helped lead Kelley Blue Book’s editorial team for many years, guiding shoppers toward buying a car they’d love that wouldn’t break their monthly budget. He’s now published his eighth book, bringing that same perspective to the problem of how to go electric without overpaying.
How To Buy An Affordable Electric Car: A Tightwad’s Guide To EV Ownership walks buyers through a series of questions about how they’ll use the car, explains how EV tax incentives work, and helps shoppers make an informed decision on whether to go electric now, or wait for the market to bring prices down to earth.
“This book comes at the perfect time,” says Autotrader Executive Editor Brian Moody. “Car prices are increasing, and electric cars are among the most expensive types of vehicles. In addition, many used EVs have excellent warranties still in effect. Thrifty shoppers can find deals as early-adopters are always looking for the newest and latest,” he adds.
