According to Kelly Blue Book from July 12, 2022, “The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates, is well above the industry average and more aligned with luxury prices versus mainstream prices. Hybrid/alternative energy vehicles are selling at just over $39,000 in June, a $3,593 increase over May, and an $8,453 increase versus a year ago. High gas prices are driving consumers to consider electric vehicles, hybrids and smaller, more fuel-efficient gas-powered models.”
Brand new electric vehicles can range in price depending on the vehicle you are looking for. For example, a base model 2022 Tesla Model 3 can cost around $46,990 while the 2022 Chevrolet Bolt EUV can cost approximately $33,500. One of the least expensive EVs on the market is the 2022 Nissan Leaf at $27,400. However, some top-of-the-line or luxury EVs can be pricier such as the Ford F-150 Lightning with Platinum trim (top-of-the-line) for around $90,474.
Used electric vehicles also range in price depending on what you are looking for, where you are looking to purchase one, and what year the vehicle is. Carvana, an online car dealership, has a 2015 Nissan Leaf priced at $17,990 and a 2015 BMW i3 priced at $21,990.
When purchasing a used EV, remember that the features the vehicle has, the mileage on the car, the range of the vehicle, and how old it is all factor into the cost. Some vehicles, such as Teslas, can cost more on the used market than other vehicles due to supply and demand.
