Electric Car Prices Spiking Due To Rising Costs And Demand


It's not a surprise that the cost of electric cars is on the rise. It seems that the cost of everything is on the rise since the COVID-19 pandemic.

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it's also evident that it's getting difficult to obtain the items that we want and need that causes an increasing the demand.

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As the demand grows and the resources are difficult or scarce to obtain the prices will rise.

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According to a recent report published by Autoblog, the average cost of a new electric car reached $54,000 in May 2022.

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The prices for gas-powered vehicles are rising by 14 percent with $44,400 on average. The information on prices is from a new report by AlixPartners.

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The article noted the fact that Tesla has raised the price of its vehicles several occasions throughout the year.

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Today, certain Tesla EVs cost nearly 10-percent more expensive than at the beginning of 2022.

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Electric automakers that are starting up Rivian as well as Lucid have also increased their prices and this appears to be the case across the entire industry.

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