“Initially, they’ve been in very short supply because the volumes are low, and so dealers have been adding $3,000, $5,000, $10,000 onto the sticker price because they can.”
But Levin said it’s important to keep in mind that all types of cars have seen price increases due to pandemic-related supply chain issues. And he believes dealer price hikes are temporary. UCLA Institute of Environmental Sustainability researcher Narayan Gopinathan agrees that EV price surges are probably a short-term issue.“The long-term trend in electric vehicles going down in prices is still happening, due to the decline in battery prices and improvements in technology,” Gopinathan said.Check out federal, state and even utility incentives. They can knock $10,000 or more off the price of a vehicle.
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