(TheLastPatriotNews.com) – In a hardly surprising development, electric vehicles are failing to excite and enthrall Americans consumers, as people nationwide keep buying old-school gas-power cars at faster rates, while the EVs remain piling up at car dealerships, according to a report.
Electric Vehicles (EVs), as reported by the Wall Street Journal, are accumulating unsold at dealerships while American consumers continue to prefer traditional gasoline-powered cars.
This trend persists despite significant federal and automotive industry investments in EVs, indicating a lukewarm reception to President Joe Biden’s green energy initiatives, contrary to what was anticipated by his administration and the industry.
“As a result, electric cars and trucks are piling up on dealer lots, causing auto companies to reassess their investment plans. It takes a dealership around three weeks longer to sell an EV than a gasoline vehicle, according to data from car-shopping website Edmunds. A year ago, battery-powered models were selling faster than their gasoline counterparts,” the Journal writes, as cited by Breitbart News.
Several factors contribute to this trend, including insufficient electric charging infrastructure and consumer concerns about EV reliability.
However, the high cost of EVs is a major deterrent. Data from the Journal reveals that last month, the average EV cost nearly $52,000, significantly more than the less than $45,000 average cost for gas-powered cars.
Industry experts do not foresee a decrease in EV prices until at least 2025.
Another challenge facing automakers is the geographical concentration of EV sales.
For instance, between July and September, nearly a quarter of all EVs sold in the U.S. were in California, with the top four metropolitan areas for EV sales also located in the state.
Despite substantial government investment in EVs, such as the $7.5 billion earmarked for building electric chargers nationwide, tangible results, like the installation of these chargers, have not yet materialized.
Breitbart News has reported that U.S. car dealers are urging President Biden to reconsider his EV mandates and carbon emission regulations.
These policies aim to transition consumers to all-electric cars, but there’s a notable lack of demand among Americans for such vehicles.
Additionally, a Consumer Reports survey indicates that EVs experience almost 80% more issues than traditional gasoline cars with combustion engines.
