The best electric cars for the road may look the same as the best gas-powered ones but they can cost hundreds of dollars more, according to a new study.
The cost of a new Nissan Leaf or Toyota Prius hybrid has increased more than 80 percent since it was introduced in 2013, with the average price for the Nissan Leaf now reaching $37,000 in some markets.
That makes the average electric car priced at $2,000 more expensive than a gas-fueled car, according a new report from research firm Autotrader.
That’s a major price hike.
And it comes as Nissan, a global carmaker, is looking to bolster its electric vehicles’ appeal by selling them in new markets.
But for a few of the more remote parts of the country, electric vehicles are a far more affordable alternative to gas-guzzling cars.
In Colorado, a city of fewer than 300,000 people, residents have only one option when it comes to an electric vehicle: the city’s own public utility.
But a lot of people have turned to private companies that offer electric vehicles that cost far less than the public utility’s average, Autotracer said.
So how can you decide which one is right for you?
Autotracker, a division of the Kelley Blue Book, tracked gas prices and car sales across nine cities that span from New York to Washington, D.C. in the United States.
The companies that make and sell electric vehicles also collect and analyze sales data.
The results are published every six months.
The average cost of electric vehicles in the cities covered by the study is $1,900, the researchers said.
But if you’re in Colorado, that number jumps to $3,600.
For the purposes of the study, “electric vehicle” meant an EV with a range of 20 miles or less, and “electric” meant a gasoline-powered vehicle with a gasoline engine.
The researchers excluded a few states, including New Jersey, Massachusetts, Vermont, and Hawaii, because they don’t have the most efficient electric vehicles.
The study excluded the “plug-in hybrid” electric cars sold in the states covered by Autotrace.
Plug-in hybrids are electric vehicles with a hybrid fuel cell system.
The cars are sold in many U.S. states, but the government is only regulating plug-in vehicles in Colorado.
They don’t fit into Autotrack’s analysis because the companies are not required to report sales data for them.
In some states, electric cars that do not have a plug-ins charge system cost more than gasoline-fueling cars.
In Colorado, for example, the average cost to buy an EV that didn’t have a charge system was $1.8 million, the study said.
Electric vehicles with gasoline engines are more expensive.
In addition to the price difference, a plug in hybrid vehicle also requires an extra charge, and that can add more than $1 a mile, the report said.
For an EV without a charge, that added cost was $2.5 million.
And if you opt for the gas-and-electric option, the cost to own an EV jumps to nearly $3 million.
But there are still options for buying an electric-car, Automotive News reported.
In New Jersey and Pennsylvania, for instance, buyers can choose from an “all-electric” or “plug and play” option, according the report.
The Tesla Model S sedan and Chevy Volt electric cars also offer some cheaper options than plug-n-play vehicles.
Both the models cost between $37 and $43,000 depending on their price range.