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Friday, January 27, 2023

Why is interest in electric cars growing in the United States?

The first wave of people buying electric cars in the United States were high net worth, environmentally conscious tech enthusiasts living in California. The second wave could be people like Russell Grooms, a librarian from Virginia.

Last year, the groom bought a battery-powered Nissan Leaf and spent nearly $20,000 after government incentives as a way to save money on gas.

“I don’t have the disposable income to spend $50,000 or $60,000 on a car to help the environment,” he said. “It was really a matter of numbers.”

Electric vehicles are starting to go mainstream in the United States after first penetrating the big markets of China and Europe.

Battery-powered cars are the fastest-growing segment of the auto market, with sales rising 70 percent in the first nine months of the year compared to the same period in 2021, according to data from research and consulting firm Cox Automotive. Sales of conventional cars and trucks fell 15 percent during the same period.

Gasoline cars still have the largest share of the new car market. Cox reported that the share of electric vehicles in new vehicle sales nearly doubled in the first nine months of the year from 2.9 percent to 5.6 percent in the same period in 2021.

Many buyers conclude that electric vehicles make economic sense, even when they cost thousands of dollars more than gas-powered vehicles.

Volatile gasoline prices, which hit all-time highs this year, reassured people like Tracy Mears, a resident of the Canadian province of New Brunswick. She sets up retail merchandise displays approximately 3,000 miles a month.

“I was a little reluctant to all the new technology,” Mears said. “My objective was to get rid of gasoline.”

He estimates he saves C$600 a month, or about $440 more, on the Tesla Model 3 he bought in 2021 for C$70,000. Charging the car at home costs about $6, he said. But for all the hype, buyers have struggled.

The main frustration has been the lack of quick and convenient places to charge electric cars on long journeys. And even Los Angeles doesn’t have enough street chargers for the millions of Americans living in apartments, said Arianna Stern, who bought a Nissan Leaf.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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