New Study Suggests Ongoing Issue With Selling Electric Vehicles

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The governments and manufacturers of the world have assumed electric vehicles are the new direction of the market. Not so fast. A new study suggests buyers are not on the same page.

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The study also highlighted the difference between supply and demand shall not easily be absorbed by autonomous ridehailing vehicles, i.e., maybe customers not intending to buy electric vehicles would still rely upon them for transportation. Approximately 50% of the United States has never used a ride-hailing application and 40% never expect to use an autonomous vehicle .

Arguably, the auto industry has already started to attack one of the greatest historical barriers to entry: Range Anxiety. Mercedes and Tesla have previously, and several incumbents had press releases at the Consumer Electronics Show last week. “Some of the announcements just this week coming out of CES and Detroit are talking about 600+ mile one-charge ranges. That’s exciting and will help decrease resistance.,“ says Iyengar.

The governments may additionally need to [re]consider financial incentives for eco-friendly vehicle purchases. President Biden previously introduced two bills to expand EV adoption and the second was supposedly going to contain a $12,500 federal tax credit for EV’s. However, a some moderates in the House of RepresentativesWhatever method is required, the newest study suggests pivoting soon is probably required.

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In a few more years they'll be cheaper and way more people will be buying them, this is a market adjustment issue plain and simple.

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