Full Title: How Affordable are Electric Vehicles?
Author(s): Sam Pournazeri, Stacy Noblet, and Fang Yan
Publisher(s): ICF
Publication Date: August 12, 2022
Full Text: Download Resource
Description (excerpt):
Despite supply chain issues and limited inventories, the electric vehicle (EV) market in the U.S. is growing rapidly. Yet these vehicles are still considered inaccessible to many people due to their high upfront cost.
At a national level, sales of new light-duty plug-in electric vehicles, including battery electric and plug-in hybrids (hereinafter referred to as EVs), nearly doubled from more than 300,000 in 2020 to over 600,000 in 2021. In the first quarter of 2022, more than 81,000 EVs were sold in California alone, increasing the market share of EVs to an all-time high of 16.3%.