With electric car manufacturers such as Tesla, leading the charge towards a greener future, many traditional automakers have followed suit and begun creating their own EVs.
Yet they are running into an unexpected roadblock – not enough customers. Despite a considerable increase in consumer interest in electric vehicles (EVs), there is still no surge in actual sales taking place.
This begs the question: why aren’t more people buying EVs?
A “Field of Dreams” moment, according to Jonathan Gregory, senior manager of economic and industry analysis at Cox Automotive.
The survey indicated that compared to 2021, 51 percent of consumers are currently thinking about buying a new or used EV – but unfortunately this interest has not been translated into any real action yet.
It could be because many EVs come with hefty price tags that make them inaccessible to those on lower incomes who may have otherwise considered switching from petrol cars. For instance, Genesis’ Electrified G80 was sold 18 times within 30 days despite having 210 units available nationwide – this is likely due to its $82k price tag which disqualifies it from federal tax benefits.
Similarly GMC Hummer EV SUV and Audi Q4 and Q8 e-tron models all have inventories well above 100 days due to their high sticker prices; Tesla does not even appear in Cox’s inventory data as it deals directly with customers instead of through dealerships, meaning they can avoid registering their sales figures publicly – another indication that it’s only luxury brands making serious money out of EVs right now.
It isn’t just higher prices that are putting people off purchasing an EV either; range anxiety – the ongoing concern about running out of power and locating the next charging station – can be very stressful for buyers considering switching over from petrol vehicles too.
In addition, the slow speed at which most public charging points take up juice means you may need several hours before your vehicle is ready for use again – time which could disrupt plans or cause frustration/unhappiness amongst drivers who are used to simply filling up at a gas station in minutes rather than hours!
Finally, Americans spend quite a lot of money looking for luxury goods that enhance their quality of life – things like larger refrigerators with more ice options or higher-end washing machines etc., but expecting them to fork out even more money on something that has potential detriments such as range anxiety or longer charging times seems counterintuitive when there are other alternatives available already out there on the market.
