Electric Cars

Chart of the Day: 50% are Ready for Electric Vehicles – Are You?

USA Today points out that electric vehicles were once a small fleet of cars deemed “nerdy” by many. Now, electric vehicles have evolved into “beautiful cars” almost every dealer has in their lot, plus they’re sought after by many drivers.

It seems that electric cars will significantly expand in 2021. As Business Insider reports, in 2021, brands like Ford came out with an electric pickup truck. The Biden administration pledged to install 500,00 electric vehicle stations across the country, and the luxury electric vehicle market blossomed.

It’s more than likely the trend of electric vehicles will continue to gain momentum into 2022. Drivers can expect more new electric vehicles to hit the market throughout the year from many different car brands. While we still expect Tesla to be a big player in the electric vehicle space, brands like Ford, Volkswagen, and Toyota all have plans to unveil new electric vehicles in the new year.

Consumer interest in electric vehicles has hit a global tipping point, with more than half of car buyers saying they want their next car to be an EV, new research from Ernst & Young shows. 52% of respondents to EY’s annual Mobility Consumer Index who are looking to buy a car want an EV, according to the survey of 13,000 people in 18 countries. See this in the chart below and learn more here.

ElectricVehicleSalesInterest2022

Americans still aren’t as enthusiastic as consumers in Europe and Asia. Electric vehicles are a relatively new technology, but their growth curve in America has already been tremendous. Since 2010, annual sales of EVs in the United States have grown over 19,000%, from only 1,191 vehicles sold in 2010 to 231,088 in 2020. See a historical chart on EVs and learn more here.

ElectricVehicleSales-2020

Government policies are probably driving consumer choices in many markets.

  • The European Union, for example, plans to ban sales of conventional gas-powered vehicles by 2035.
  • China wants 40% of vehicles sold to be electric by 2030 and has used buyer subsidies and other policy measures to support the transition.
  • In the US, President Biden set a target for 50% of new cars to be electric by 2030. But with gas prices spiking, a proposal to boost tax credits for consumers who choose EVs is now getting congressional pushback.

Like many things coming from our government, for example, vaccines, taxes, and control of our speech, add EVs to the list.

So are you ready to buy an EV for your next car purchase? Don’t bother answering the question. You may not have a choice anyway.

See more Chart of the Day posts.

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If you found this article informative, please consider a small donation to our coffee cup to help support Conservative Journalism – or spread the word. Thank you.

 RWR original article syndication source.

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  1. I did purchase a hybrid plug-in electric vehicle in October. Owning anelectric vehicle is a situational/transactual event.
    MSRP was 30 K minus tax credit put a 23K which is comparable to a gas SUV.
    i am a retiree so most of my suburban driving to the grocery store hardware stores doctors pharmacist and occasional evening out. So I have a proximately 2000 miles on the vehicle is it still working on the first tank of gas, which puts it somewhere between 180 to 200 miles equivalent per gallon.

    So technically it’s an ideal vehicle for me to own and charge at my house, with charging cost approximately a dollar and a half a gallon.

    So as far as I’m concerned it makes excellent sense, now if I were traveling 40 miles a day round-trip to go to work or better, assuming the workplace didn’t have a charging station which milestones, it would not be particularly advantageous. Even for EV‘s with 200+ mile ranges would require heavy duty charging stations at home/work. So in that case it might not be advantageous plus the fact that those vehicles are north of 40 K.
    The one question that does bother me and has not been answered is if I were to run out of electric, the emergency road service don’t carry back up batteries but they carry a couple gallons of gas -very interesting question.

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Written by Tom Williams

Born down on the farm in America's Midwest, my early life was spent climbing the ladder via a long career in information technology. Starting as a technician, and after earning a degree going to night school, I eventually found a place working at ATT Bell Laboratories as a software engineer.

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