Electric vehicles were once considered the stuff of science fiction. But now, upcoming electric vehicles are less exciting than we’ve anticipated…
Are EVs actually here to bring forward the future?
Issues With Upcoming Electric Vehicles
While electric vehicles are growing in popularity…
Not everyone has welcomed them with open arms.
In the past year, electric vehicle sales have gone up 8.5% with most registrations happening on the west coast. Not to mention, Tesla’s Model Y became the 5th best-selling car last year…
MAKING IT THE FIRST TIME AN ELECTRIC CAR HAS CRACKED THE TOP 5 SPOT.
With these stats, it’s hard to imagine that people AREN’T excited about upcoming electric vehicles.
Yet, EVs bring a lot of complications with them…
MOST NOTABLY, THE NEED FOR PUBLICLY AVAILABLE CHARGING STATIONS.
Wherever you go, you know that you’re never too far from a gas station at any point. If you’re an EV driver, your reality is a bit different.
And if you don’t have a private charging station installed in your driveway…
You’re completely out of luck.
Most rural areas in the country have the fewest public charging stations, making owning an EV nearly impossible.
Good For The Planet… Bad For Your Wallet
Most people who purchase EVs are usually richer, younger, and live in urban areas. This demographic cites environmental concerns as a reason they’ve purchased their vehicles.
BUT COMPARED TO GAS VEHICLES, UPCOMING ELECTRIC VEHICLES ARE SIGNIFICANTLY MORE COSTLY.
To put it into perspective, consumers are paying between 20 and 40% more for EVs than comparable gas vehicles.
The Biden Administration offered federal tax credits to incentivize car buyers to purchase EVs. Yet, these incentives only apply to a fraction of vehicles.
In the face of these roadblocks, interest in upcoming electric vehicles has cooled…
Putting carmakers on edge.
Tesla is facing heat from Chinese car makers. Ford and GM are taking steps back from EV production. Rivian and Lucid shares have dropped since consumers aren’t so keen on EVs.
Needless to say, upcoming electric vehicles are going to have an uphill battle when it comes to car sales.
In business, you always want to solve problems for your customers. But electric vehicle companies don’t seem interested in making sure their customers are driving smoothly.
Regardless, these car companies have a rocky road ahead of them.
Be Great,
GCTV Staff
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