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Electric Cars Are Cheaper to Own in New Jersey Than California

May 22, 2022, 1:20 PM

What’s cheaper to buy, a gasoline car or an electric one? The answer might surprise you.

Whether new or used, gas-powered or pure plug-in, in recent months manufacturers’ suggested retail prices (MSRP) on all cars in the US have led to some serious sticker shock.

In April, the average new vehicle listing price was above $45,000, according to Cox Automotive, a number first reached in S
eptember (and an all-time-high at that point).

The prices reflect low inventory across the US, caused in large part by continued supply chain disruptions. The total supply of available unsold new vehicles stood at 1.13 million units ...