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EV Demand Has Skyrocketed in the U.S. Due to the High Fuel Prices

Electric vehicles are the talk of the town these days, as the carmakers are trying their best to bring new models on the market and produce them in meaningful numbers. Despite appearances that American customers are not interested in buying electric vehicles, the interest is booming, especially as the fuel prices skyrocket.
EV demand has skyrocketed in the U.S. due to the high fuel prices 6 photos
ICE vehicle blocking Supercharger station in en masse ICEing incident in Alberta, CanadaFord Mustang Mach-E in front of a charging stationFuel prices push people to buy electric vehiclesFuel prices push people to buy electric vehiclesFuel prices push people to buy electric vehicles
There’s a strong divide between people who consider that electric vehicles are the only way to save our planet and those that don’t even consider them “real cars.” Even so, there’s been a tectonic shift in interest toward electric vehicles in the past month. This is due to increased fuel prices, proposed infrastructure legislation, the war in Ukraine, and supply chain issues wreaking havoc on the car market. Nevertheless, despite increased interest, EV sales are still low because of the limited supply.

According to a new study by Cars.com, searches for all-electric vehicles in the U.S. are up 173 percent in the last month. This comes even though electric vehicles have steep entry prices that stifle adoption. People are truly desperate to buy an electric vehicle today and they see it as a purchase that hedges against market swings, especially gas prices.

Despite the perception that Americans don’t want electric vehicles, the study shows that 55% of non-EV owners consider buying an electric vehicle as their next ride. If gas prices keep rising, the figure would climb closer to 70%. Moreover, half of those that bought an electric car in the past months cite gas savings as the primary reason for their choice. The EVs proved to be incredibly good too since a vast majority (85%) of current EV owners would not go back to an ICE vehicle.

This is not to say that electric vehicle adoption has come to a turning point. The same study shows that factors like cost, availability, infrastructure, education, and awareness still present barriers to widespread EV adoption. More than half (52%) of Americans consider the high EV prices as a significant obstacle to buying one. Also, most people (70%) don’t have a 240-volt outlet or an EV charging unit at home. But the biggest obstacle is the limited supply of electric vehicles in the market.

 
 
 
 
 

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