If rising gas prices have you considering an electric vehicle, you could be waiting months, if not years, before the one you want becomes available. --
Consumers hoping to switch to an all-electric or more fuel-efficient vehicle, while Russia's invasion of Ukraine pushes gas prices to record highs, will largely be out of luck.
A combination of supply chain problems, pent-up demand and record-low vehicle inventory levels means many new cars and trucks, including EVs, are already spoken for before they reach dealers lots.Consumers hoping to switch to an all-electric or more fuel-efficient vehicle, while Russia's invasion of Ukraine pushes, pent-up demand and record-low vehicle inventory levels means many new cars and trucks, including EVs, are already spoken for before they reach dealers lots.
"Even for people who want to switch to electric, they have nowhere to go," said Jessica Caldwell, executive director of insights at Edmunds.com."Anything you're looking to buy, you're on a waitlist … or even if you're looking to downsize your purchase, you're paying top dollar. It just doesn't make sense to make a move right now."
Gas prices have surged since Russian President Vladimir Putin invaded Ukraine two weeks ago. The national average for a gallon of gas is $4.06, up 45 cents in a week and $1.30 more than a year ago, according to AAA. The U.S. and other countries responded to the invasion with sanctions against Russia, including bans or reductions of Russian oil imports.Meanwhile, customers face months,
, of wait time to purchase EVs. Luxury models are easier to find, but come at little to no discounts right now.
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