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The Top 5 Reasons For The Growth Of Electric Vehicle Sales

 

As electric vehicle demand rises, automakers are struggling to keep up.

Consumers are learning about electric vehicles and their benefits, leading to more manufacturers offering EVs, allowing consumers to have more options. But there are many other reasons behind the ongoing uptick in electric vehicle sales. 

 Electric vehicle trends 2022


1.     Spiking Gas Prices

Electric vehicles provide independence from gasoline. Additionally, it eliminates the need for frequent gas stops. Electric vehicles have become increasingly convenient, allowing owners to charge while sleeping, and then start their day the next day.

Gas station-free driving is a true luxury. It is extremely difficult to predict when gasoline prices will return to normal and when these spikes will occur. The environmental impact of constant gas station refilling is one of the major advantages of electric vehicles.

2.     2. EVs Are Becoming More Affordable

New car buyers are gradually becoming more able to afford EVs. Now, Tesla offers the Model 3, which isn't "cheap" but offers a lot more flexibility than the Model S or Model X. Electric vehicles were once prohibitively expensive, like Tesla's Model S or Model X.

Hyundai also offers the Kona EV, which starts at $34,000, making EVs even more affordable for those who want to take part in the green revolution. Nissan Leaf (which has been around for a while but has a decent range now) tops the list at $27,800. Consumers are starting to notice, and EV sales are increasing accordingly.

3.     3. Government Incentives

Additionally, the government is helping to attract new customers to the electric vehicle industry. New electric vehicle buyers may qualify for a federal tax credit of up to $7,500, which is a great incentive that helps lower the cost of electric vehicles.

Some manufacturers, like Tesla and GM, have long run out of eligibility for the federal tax credit. To qualify for the tax credit, they had to sell more than 200,000 vehicles. Fortunately, most EV manufacturers qualify for the full tax credit, which means you can expect to save $7,500 off your next EV.

4.     4. More EV Choices, More EV Manufacturers

For some strange reason, people tend to think of Tesla or Toyota Prius when discussing EV market growth. Despite Tesla's success in selling EVs, their vehicles are out of reach for many people.

Fortunately, so many automakers are entering the EV party, and the choices seem endless. Many car manufacturers are currently offering EVs, and they are instantly recognizable. Several great EVs are already on the market, including VW's fully electric ID.4 and those from Hyundai, Kia, and Mini.

EV buyers can now choose their cars based on their liking, rather than just buying them. Due to a lack of choice, people who need a truck like a pickup cannot buy an EV.

5.     5. Charging stations and increased EV range

Initially, electric vehicles received criticism for their small range, compared to gasoline vehicles. The impressive battery range of EVs makes them ideal for daily driving. Lucid's EVs have a 500+ mile range, which is fantastic and exceeds the Model S's.

EVs of all prices have improved their range over the years thanks to battery technology advances. With Nissan Leafs, you can now get more than 200 miles of range, which is enough for most commuters without the need to recharge during the day. In addition, charging stations are popping up all over the country. ChargePoint and Electrify America also contribute to robust EV charging infrastructure in the U.S., but Tesla's Supercharger network led the way.

6. We are just at the beginning of EV adoption

This is just the beginning. The current EV sales trend is merely an indication of things to come. As soon as the US begins to sell all new vehicles as EVs, other countries like Norway will follow suit even faster. We must also continue to push for a renewable-energy-powered electric grid so that buying an EV is a responsible choice.