General Motors, Ford and Tesla have all warned of an electric vehicle slowdown because they say demand might drop.
In a Cox Automotive survey, 53 percent of consumers said EVs will eventually replace internal combustion engines, but less than a third of dealers agreed. Several dealerships interviewed by CNBC said EVs were taking longer to sell and there was a supply and demand imbalance with the vehicles., but consumers are only temporarily shying away because of high interest rates that make EVs — typically more expensive than your average car — more difficult to purchase.: But a momentary blip.
That is a huge difference for the average consumer. With higher interest rates we have seen higher-priced choices, EVs included, become less attractive. EVs are here to stay and eventually, with less expensive batteries, will become more affordable over time. It’s all I’ve driven since 2012.Consumers are still interested in electric vehicles, and it will only grow over time as battery technology and long-distance supercharging networks improve.
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