Electric vehicles are becoming rapidly more popular, as evidenced by the surge in sales over the past few years. But why are people choosing to buy electric vehicles? There are a number of reasons, including environmental concerns, government policies, economic factors, and technological advancements. Let’s dive a little deeper and discuss why the sales of electric vehicles are streaming.
China and Europe
China and Europe have been leading the way in terms of electric vehicle sales, and the United States is just starting to speed up. This is due in part to the Chinese government’s efforts to promote the adoption of electric vehicles. The Chinese government has implemented a number of policies to encourage people to buy electric vehicles, including subsidies and tax breaks. These policies have been very successful in increasing the sales of electric cars in the country.
They’ve also increased their range of small car models, which is another factor that’s appreciated by many. China’s consumers are increasingly interested in electric vehicles because they’re more efficient and environmentally friendly. In addition, electric vehicles are becoming more affordable as technology continues to improve and manufacturing costs decrease, except for the price of batteries which are still increasing.
In Europe, electric vehicle sales have grown by a staggering 70% in 2021, and it’s expected that this trend will continue. The main reason for the spike in sales is the introduction of stricter emissions standards by the European Union. These standards, known as the Euro emissions standards, are designed to reduce the harmful emissions that cause air pollution. As a result of these stricter standards, manufacturers are producing more electric automobiles.
There are also purchase subsidies to help increase the sales of electric vehicles in Europe. They’re expanding the market for these vehicles by making them more affordable, just like in China. Germany was by far the largest consumer market in 2021, with Norway, Sweden, and the Netherland following behind.
The United States is the third largest competitor for electric vehicles, but it’s estimated that we’ll see a significant increase in sales in the coming years. The U.S. doubled its sales in 2021 to over half a million, but it’s still relatively small to China’s 3.4 million and Europe’s 2.3 million sales. However, the United States does own 4.5% of the total market share for electric vehicles, which is the highest it’s ever been. Much of this is thanks to Tesla, which is the leading manufacturer of electric vehicles in the United States.
An essential factor driving electric vehicle sales surging is government policies. The IEA supports all the efforts being made by governments to increase the sales of electric vehicles. They’re carefully assessing policy options and looking for opportunities to improve the effectiveness of these policies.
And as mentioned, the Chinese government has been subsidizing the purchase of electric vehicles, and Europe has done the same. The Chinese government is also working on expanding the charging infrastructure, which is crucial for the success of electric vehicles. The European Union has also implemented stricter emissions standards, which has led to an increase in the production of electric vehicles.
The auto industry is continuing to release new and attractive announcements about electric cars. In the past year, we’ve seen announcements from globally recognized brands such as Audi, BMW, Cadillac, Jaguar, Mercedes-Benz, Porsche, Volvo, and Volkswagen. The industry is working together to help consumers see that electric vehicles are the future. Ford, for example, is expecting 40-50% of their sales to be coming from electric vehicles by the end of 2030. This is a great shift that’s happening, and it’s only going to grow as the big names in the industry continue making more announcements about their plans for electric vehicles.
Even though there have been many challenges for suppliers, the overall response has been very positive. Many governments from around the world have set new targets for electric vehicle sales, and it’s expected that the market will reach these targets. Support from government bodies and the auto industry will undoubtedly increase the demand for electric cars. Both supply and demand are expected to increase in the coming years, which is good news for the environment and for the economy. The U.S. government, for example, announced in November 2021 of a 50% electrification target for new cars by 2020. This is a very ambitious target, but it’s one that the U.S. government is confident it can achieve.
Newer, Better, and More Attractive Electric Vehicles
When purchasing a vehicle at a car dealership, Buyers Guides are secured to the driver’s side window of the vehicle for sale. They indicate any warranties included with the particular vehicle. Car dealerships can purchase Buyers Guide forms in a variety of styles including “as is” or “implied” plus an array of other types of auto dealer supplies at the lowest prices from MBR Marketing: https://mbrmarketing.com/dealer-supplies/sales-forms/ftc-buyers-guides-and-holders/.
Volkswagen introduced the ID Series in Europe, Ford introduced the MachE, and Toyota and Stellantis are introducing smaller and sleek electric models, including a new hybrid, into the market. BMW and Audi are also working on new models that are expected to be released soon.
Electric vehicles are gaining a good name for themselves and for obvious reasons. These include being environmentally friendly, efficient, and having a much lower total cost of ownership than gasoline vehicles. The upfront price of electric vehicles is often higher than that of gasoline vehicles, but over time, the cost of ownership is much lower. The technology being used is also becoming incredibly advanced, making electric vehicles more reliable. With the advances in battery technology, these cars are now able to travel much further on a single charge than they could even just a few years ago.
With all of these new and better electric vehicles coming to market, it’s no wonder that sales are surging. Electric vehicles are getting better each day, and people are starting to realize it. It’s only a matter of time before they become the norm, which will actually be good for Earth as a whole.