The average price of a new car hit a record high in the United States in 2023, at just over $48,000. Since 1935, the average price of a car has increased by about 2.3 per cent per year.
As of August 2022, the average price of an electric vehicle was $66,000. That is nearly $20,000 more than a gas car.
It’s critical to remember though that EVs are still relatively new technology, and often comes with more bells and whistles than their gas powered counterparts.