Electric vehicles close 2022 on great note
Electric vehicles: More people than ever before are buying electric vehicles, and brands besides Tesla are rising to prominence.
The situation was best characterized by Matt Degen, an editor at Cox Automotive, a website and business focused on cars.
“It’s not your eyes tricking you,” highlighted Degen.
“For the longest time, the majority of the EVs on the road were Teslas, and they still get the lion’s share of sales.”
“But they’re now hardly the only game in town.”
The numbers
According to Kelley Blue Book, 5.6% of the cars sold in 2021 were electric vehicles.
Only 1.4% of EVs were sold two years ago.
Corey Cantor, a BloombergNEF expert, mentioned Norway in relation to the success of the global markets.
A critical turning point for broader acceptance was highlighted by the 5% market share.
According to BloombergNEF, similar developments also occurred in markets like China and Europe.
Although plug-in hybrids were included in Bloomberg’s list of “electric vehicles,” the majority of them are powered by batteries.
A norm
Although 5% might seem insignificant, it could be the start of something becoming universal.
For instance, according to Cox Automotive, the market shares for electric vehicles and the overall US market share for Hyundai are identical.
It doesn’t feel unusual to buy a Hyundai, and the same is true for buying an electric vehicle.
The convenience is the major deterrent to purchasing an electric vehicle, however.
“I think now the demand is definitely there,” said Cantor.
“It’s just been more a supply side of automakers not being able to ship enough.”Read More
Source: The Wall Street Times
