EV inventories have been piling up at dealerships in 2023, and are selling far more slowly than their gasoline counterparts.
. From 2023 to 2027, automotive companies have committed $616 billion in total investments in EVs, according to consulting firm AlixPartners.EV and internal combustion engine inventory started the year off at about 52 days' supply, according to Cox Automotive. Days' supply is a way of measuring how many vehicles a dealer has on the lot.
In August 2023, it took about twice as long to sell an EV in the U.S. as it did the previous January. Meanwhile, gas-burning vehicles were still selling briskly. Slightly more than half of consumers do say that EVs are the future and will eventually replace combustion engines, but less than a third of dealers hold that view.. Insiders cite a number of factors: high pricing, concerns over charging and restrictions on subsidies being high on the list.
"There's concern about public-charging infrastructure, even though most of the charging you'll be doing will be at home," said Jeff Aiosa, who owns Mercedes-Benz of New London, Connecticut. "There's still concern about those long trips."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 Sao Paulo Grand Prix 2023 Odds, Picks, and Predictions: Can Max Keep Running the Gauntlet?Formula 1 2023 Sao Paulo Grand Prix odds, picks, and predictions. F1 betting picks and driver odds at Autodromo de Interlagos on November 5.
Read more »
Blockchain Genesis Thailand Blockchain Week 2023 | Bangkok, November 11-12, 2023What is ‘Blockchain Genesis, Thailand Blockchain Week 2023?’ For the first time ever, Thailand’s largest blockchain conference brings to you over 60 sessions and 150 speakers from Thailand and all over the world to come share their valuable insights and experiences.
Read more »
Daylight Saving Time 2023: Why Arizona doesn't observe Daylight Saving TimeClocks in 48 states will 'fall back' this weekend as most of the United States moves away from Daylight Saving Time (DST) -- but not for Arizona.
Read more »
2023-24 NHL awards odds, predictions: Why Jon Cooper could be the Jack Adams winnerSome of the NHL betting markets are starting to take shape.
Read more »
Why a 2023 Virginia Election Is a Proving Ground for 2024In state legislative races next week, both parties are testing their messaging ahead of presidential race
Read more »
Best Black Friday Sales 2023 - Today's ParentHusband and pregnant wife shopping for pram
Read more »