According to recent reports, electric vehicles are “piling up on dealer lots,” while American consumers purchase traditional gas-powered cars instead. Over the past several years, electric vehicle purchases have drastically increased. However, that growth has plateaued and declined in recent months.
The Wall Street Journal reported that Americans are not buying into the Democrat-led EV agenda, where Joe Biden has provided billions in investments to promote green energy. The Journal claims electric cars and trucks are going unsold, collecting dust on car lots. Reportedly, it takes a car dealership roughly three weeks longer to sell an electric vehicle compared to a traditional gas-powered car.
Various reasons have been cited for the declining demand for EVs, such as concerns about the reliability of this new technology. Over the past few years, the media has been plagued with headlines of horrific experiences tied to EV ownership. The American Tribune reported on one man who labeled the battery-powered vehicles the “biggest scam of modern times” after he was forced to ditch his $115k EV during a family road trip.
Moreover, the charging station infrastructure for EVs is severely underdeveloped, creating additional hesitancy. A road trip with an electric vehicle will often take substantially longer as drivers will have to go out of the way to find charging, which can take much longer than filling up a gas tank to obtain a full charge. Prospective car buyers have also expressed concerns about the limited battery range compared to the gasoline engine.
If there weren’t enough reasons to dissuade consumers from EVs, the cars are considerably more expensive than their gasoline counterparts. Per the Journal, the average electric vehicle cost nearly $52,000 last month, whereas a gas-powered car had an average price of $45,000. This could be a hard sell for Americans due to historically high inflation in recent years and a high interest rate environment.
However, the Biden administration has provided billions in federally funded investments into the EV space, such as $7.5 billion to construct electric vehicle charging stations nationwide. Additionally, some states in the U.S. are approving regulations aimed at coercing consumers into buying electric vehicles instead of gas-powered engines in the coming years.
As the Biden administration charges onward with the green energy EV agenda, car dealers are pushing back. Thousands of dealers across the U.S. recently wrote an open letter to President Biden, urging him to pull back on the EV agenda amid low consumer demand.
Part of the letter stated, “These vehicles are ideal for many people, and we believe their appeal will grow over time. The reality, however, is that electric vehicle demand today is not keeping up with the large influx of BEVs [battery electric vehicles] arriving at our dealerships prompted by the current regulations. BEVs are stacking up on our lots.
“Mr. President, it is time to tap the brakes on the unrealistic government electric vehicle mandate. Allow time for the battery technology to advance. Allow time to make BEVs more affordable. Allow time to develop domestic sources for the minerals to make batteries. Allow time for the charging infrastructure to be built and prove reliable. And most of all, allow time for the American consumer to get comfortable with the technology and make the choice to buy an electric vehicle.”
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