Electric Vehicle (EV) sales have reached a record high in the US last year, despite a decline in consumer interest. According to Cox Automotive and the International Energy Agency, over 25% of cars sold worldwide are expected to be electric.
However, a report from AAA found that only 16% of US adults say they’re “very likely” or “likely” to purchase an EV as their next car, down from 25% in 2022. The biggest concerns about owning an EV include high battery repair costs and purchase price, with many consumers citing range anxiety and the inconvenience of public charging stations.
Tesla, the number one EV brand, is experiencing a brand crisis due to controversy surrounding CEO Elon Musk’s actions. Despite this, Tesla sales in Norway jumped last month, bucking the downward trend across Europe.
On the other hand, there are still great reasons to buy an EV, with saving on gas being the top reason, followed by lower maintenance and repair costs, as well as tax credits. The AAA recommends a shift towards hybrid or plug-in hybrid vehicles, which combine the advantages of traditional internal combustion engines with electric power.
As the industry moves forward, it’s unclear whether EV sales will continue to rise or slow momentum due to dwindling consumer interest. One thing is certain, however, that there are still many benefits to owning an EV, including its environmental benefits and cutting-edge technology.
Source: https://uk.pcmag.com/cars-auto/158384/interest-in-evs-plummets-to-lowest-level-since-2019-blame-battery-costs-or-bros