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Gas Price Spike Lifts Interest in EVs, With Used Models Leading the Shift

Home charging stays far cheaper than gasoline even as electricity rates rise.

Overview

  • With the national average now above $4 a gallon and some states over $5, AAA says more drivers are eyeing electric and hybrid options to cut fuel costs.
  • Home charging costs less than gasoline in every state, which the Energy Department says can save some drivers up to $2,000 a year.
  • Adoption still faces hurdles such as the end of the federal EV tax credit, scarce public chargers, and higher upfront vehicle prices.
  • Automaker updates show a near‑term lift, with Subaru marking its best month for EV sales and Toyota reporting March gains.
  • Shoppers are turning to used EVs as prices fall, with about 40% listed under $25,000 and sales moving faster than comparable gas cars.