Free Delivery Site Wide
30-day Returns Guarantee
One Year Warranty
Secured Payments
Home/Blog/Feature Contents

Are hybrids and electric cars about to skyrocket in price because of rising gas costs?

Are hybrids and electric cars about to skyrocket in price because of rising gas costs?

This relates to macroeconomics and of course as of writing (June 2022), we are facing major inflation. Therefore, the rise in prices is not exclusive to electric/hybrid cars but all commodities. That said, the rising prices of fuel/gas would not affect the prices of EVs and hybrids. This is a great opportunity for manufacturers for getting more customers to embrace the more environment-friendly option. So, even though the natural incremental rise in prices is evident, it will be very unlikely to “skyrocket”.

The following two infographics provide very interesting insights. The first one clearly shows a very high adoption of hybrid and electric cars in the US. Whereas the second chart shows a natural rise in forecasting EV and Hybrid prices.

Source: Statista (DoT)

To conclude, it would be natural for EVs and Hybrids to rise in prices like all years, but it is unlikely to “skyrocket”. The rise in gas prices has zero to no play in the overall price hike, rather R&D, and manufacturing costs play a role here.

 

Previous
Next

Leave a comment

Fanttik uses cookies to ensure that we give you the best experience on our website. If you continue, we assume that you consent to receive all cookies on all Fanttik websites. our Privacy Policy OK