article thumbnail

EV prices skyrocketed in November, highlighting affordability issue

Teslarati

According to sales data released by Kelly Blue Book today, EV prices were pushed ever-higher in November, likely influenced by supply and demand factors. According to data released by Kelly Blue Book , EV prices were up by 2% compared to October and up 9% from November 2021. compared to October and 4.4%

article thumbnail

‘Average Americans’ can’t afford EVs: Former White House official, others rip Buttigieg

Teslarati

The all-too-common myth that electric vehicles are not affordable to the average American is now being reignited by former Trump White House Communications Official Mercedes Schlapp, among others, who ripped Transportation Secretary Pete Buttigieg for suggesting that the answer to rising gas prices was to buy an electric car.

article thumbnail

Tesla wins Kelley Blue Book’s 2023 5-year Cost to Own Award for premium EVs

Teslarati

Consumers are well aware that vehicle ownership involves not only the purchase price of cars but also the vehicle’s total cost of ownership. With this in mind, Kelley Blue Book (KBB) named its 2023 model-year brand and category winners of its 5-Year Cost to Own Awards.

Tesla 145
article thumbnail

U.S. EV sales grow by 65 percent despite overall auto market decline in 2022

Teslarati

New data from Kelley Blue Book shows that, for the first time in just over a decade, Americans bought fewer new cars than the year before. Some more positive news comes behind the average cost of an electric vehicle, which fell 5.5 However, EV sales grew year over year by a significant margin: 65 percent. I’d love to hear from you!

Market 142
article thumbnail

Tesla holds lowest vehicle price increase rate as new car prices hit all-time high

Teslarati

Tesla has the lowest vehicle price increase rate from September 2020 to September 2021 of all major automotive manufacturers, a study from Kelley Blue Book shows. The average price of a new car has hit an all-time high in the United States with the average cost increasing by 3.7% Credit: Kelley Blue Book.

Price 144
article thumbnail

Tesla bumps Model 3 and Model Y non-Performance builds by $500

Teslarati

Tesla has increased the non-performance variants of the Model 3 sedan and Model Y crossover by $500, changing the cost of the two cars for the fourth time so far in 2021. Interestingly, the Model 3’s most affordable configurations still manages to fall under the average cost of a new car in the United States.

Building 121
article thumbnail

What Are Typical EV Maintenance Costs?

EV Connect

The good news is that EV maintenance costs are consistently lower than for gas-powered vehicles. Maintenance costs should gradually come down over time as key materials become more affordable and technical support less specialized. Depending on the model, the cost of a new converter can range from hundreds to thousands.