Rush to buy electric vehicles as gas prices soar

As gas prices increase, so does the demand for electric vehicles.

"Almost every new EV is going to be spoken for. You're gonna have to put your name on a waitlist or put a reservation down," said Ivan Drury, Senior Manager of Insights at Edmunds.com.

The wait can range from four months up to a year. Production has been slow because of supply chain problems including a chip shortage.

"We are at the mercy of the factory at the moment," said Dennis Rivera, the General Manager of Performance Ford of West Covina.

"We’ve been getting a huge influx of orders and personalized orders for EVs," said Rivera.

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The prices for an electric vehicle can range from $30,000 all the way to $100,000.

"Right now there's not a lot of options. So, for EV buyers, you're looking at vehicles that are rather expensive compared to the mass market stuff," Drury said.

For example, an electric Mini Cooper could cost approximately $7,000 more than a regular Mini Cooper. Because of the hefty difference in price, it could take 4.7 years to break even on your investment, according to Edmunds.com.

But for many EV buyers, it’s not always just about the savings. It’s also about saving the environment and freedom from the pain at the pump.

"If you're already in the market, it's a fantastic option," Drury said. "You might as well start thinking sooner than later, cuz California has the mandate, it's just the way the industry is going anyway."

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