EV and hybrid vehicle sales on the rise as consumers see reasons to go electric
EV and hybrid vehicle sales on the rise as consumers see reasons to go electric
The Colonial Pipeline is slowly resuming operations, but there are still shortages at gas stations in parts of the Southeast. And nationwide gas prices are averaging over $3 a gallon for the first time in years.
It’s just another thing making car ownership a little more expensive. Prices for new and used cars are on the rise themselves.
So, could any – or all – of those factors push more people to buy electric or hybrid cars?
There’s no way to know yet if the Colonial Pipeline hack could push more people toward electric cars or hybrids, but Sam Fiorani at AutoForecast Solutions said “buyers are looking for any reason to switch over to electric vehicles, they’re in the news and everybody’s interested in them.”
And, with gas station shortages and rising gas prices also in the news, Fiorani adds, “if you’re forward-thinking, you think, ‘This could happen at any time, this makes switching to an EV a plus.'”
More and more people are switching over to electric vehicles and hybrids anyway, said Michelle Krebs, at Cox Automotive.
“The tipping point is here,” she said.
Electric cars are still a small percentage of the market, but sales rose 45% in the first quarter of the year. And hybrid sales went up 105%. Krebs said that’s partly because there are a lot more to choose from.
“There are more electric vehicles coming on the market all the time. There are more hybrids coming on the market all the time,” she said.
And there are also a growing number of places to charge them.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
