Is enthusiasm for battery electric vehicles a tenuous infatuation while fuel prices are high and will disappear once they retreat? Cox Automotive economists say it won't be the same story that sent passenger cars to oblivion after the last gas price bounce.
Of course, he admitted, there's a considerable gap between enthusiasm, consideration and stated interest and actually purchasing an EV. Indeed inventory and price stand in the way.
“Watching shopping consideration on our web sites, since January we've seen almost a 70% increase in interest in EVs, 25% in hybrids. But they're not there to buy. All kinds of consideration. The inventory is not there.”“It's 10-plus share in some areas and zero everywhere else.”... [+]But the introduction of the electric Ford F-150 Lightning pickup could be a catalyst in breaking down that disparity according to Cox Senior Economist Charlie Chesbrough who called it a “game changer.
Cox predicts full year used vehicle sales will fall to 37.1 million from 40.6 million last year but rebounding to 37.5 million units in 2023.Co. will reclaim the sales lead from Toyota Motor Co. when the second quarter ends this Thursday, recording close to 576,000 units sold over the three-month period. The key factor is GM finding itself in a stronger supply situation, Chesbrough noted.Co.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
John Oliver mocks Utah, Gov. Cox and the Jazz Bear in a segment about waterJohn Oliver mocked Utah and Gov. Spencer Cox in a 'Last Week Tonight' segment about water use. And he made fun of the Jazz Bear.
Read more »
Gas prices at the pump: This is what fuel is costing people in Houston area, across the US as summer travel season ramps upSummer travel is right around the corner and gas prices are on the rise again.
Read more »
Sheetz offers $3.99 gas prices through holiday weekendSheetz has lowered gas prices effective immediately, bringing them to as low as $3.49 a gallon.
Read more »
Used car prices continue to climb as gas prices, supply chain backlogs drive up demandUsed car dealers are facing stronger demand nationwide for cars with good mileage amid high gas prices -- but supply chain delays cause additional trouble.
Read more »
Sheetz stations lower gas prices to $3.99 through July 4 weekendSheetz gas stations throughout the country have lowered the price of its Unleaded 88 gas to $3.99 a gallon.
Read more »
As inflation soars, Black Americans bear the brunt of rising grocery, gas and housing pricesResearchers say Black families will suffer the worst effects of rising inflation because they lag behind their White counterparts in income, wealth, financial savings and home ownership.
Read more »