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Why Americans Aren’t Buying EVs

  • The U.S. is lagging behind much of the developed world in electric vehicle (EV) adoption.
  • Only 2 in 10 Americans are very likely to buy an EV, even with the additional subsidies offered by the Inflation Reduction Act.
  • Cost, charger availability, and price remain key issues hindering the widespread adoption of EVs in the US.
EV

Here's a peculiar sentiment check that we're sure will have liberal voting soccer moms across the nation stunned: it looks as though the country simply isn't rushing out to buy electric vehicles.

At least that was the takeaway from a new Financial Times piece out this week which notes that the U.S. "still lags much of the developed world" in EV adoption.

No wonder those hurricanes coming up the Gulf Coast keep getting bigger! Quick, everybody to the Tesla dealership!

But seriously, the lack of demand is going to also be sure to stun the government, who has been offering tax breaks of up to $7,500 to try and incentivize people to go electric. Though the Inflation Reduction Act incentivizes EVs, imagine how surprised Democratic leaders will be to find out that they aren't the free market and can't plan a state run economy in its entirety.

Instead, FT reveals that "just two in every 10 Americans are “very likely” to buy an EV as their next car", even with the additional IRA subsidies. The number shifts to 1 in 10 Americans among Republicans.

Cost and charger availability are being cited as the two main reasons people aren't buying EVs. Behind them, price still remains a key factor. 

And when it came to those who wanted to buy an EV, the IRA subsidy was only cited by 6 in 10 people even cited it as a reason, with only 3 in 10 calling it a "major reason" to buy an EV.

As FT concluded, "economics still trumps ideology". 

But don't worry, the Biden administration won't take this as a lesson on why government control of the economy doesn't work - rather, we're certain they'll see it as a prompt to shell out more taxpayer purchasing power as "incentives" to fundamentally alter the course of the notoriously low-margin, capital intensive, auto business - and then blame Donald Trump when their plans don't work out.

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  • Mamdouh Salameh on April 13 2023 said:
    Because motor technology is enabling internal combustion engines (ICEs) to become extremely environmentally-friendly with emissions virtually on a par with those associated with the manufacturing of EV’s lithium batteries and and decommissioning them at the end of their shelf life. To this could also be added the other advantages like range, price and ease of fuelling with gas stations virtually available in every street corner.

    That is why claims that EVs will obliterate the global oil industry by 2030 isn’t only wishful thinking but delusional as well.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert
  • David Jones on April 13 2023 said:
    All this talk of EV subsidies and government interference in "markets" but the cold hard reality is that the oil industry receives far more in government support than EVs dream about.
  • Peter Farley on April 13 2023 said:
    When 1% of Americans owned automobiles/radios/televisions/cell phones, took an airplane ride, how many said they would buy one in the next few years? Very few. Drawing the conclusions you have, from the data is ridiculous. 40% of Americans say their next car is likely to be electric that means a five fold increase in the EV market.
    When other Americans realise the total cost of ownership of EVs is lower than that of their ICE vehicle and the guy down the street spends a lot less on running his car than they do, they will switch and the EV share will double every two years
  • jon seer on April 15 2023 said:
    Well considering that 65% of all cars sold cost less than $30,000 it should be no surprise that there is little interest in electric vehicles in the United states. Only one or two budget models with budget features that fall far short of what comes with a gas-powered vehicle. All other EVs start at close to double that price. That means for the vast majority of Americans buying an electric car means a massive increase in the amount of money they have to spend to buy it and as a result, most simply can't afford it
  • Maxime Arseneault on April 16 2023 said:
    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

    And we have here a random title drop ?
    Your a economist not a engineer, you're out of your field and just trying to abuse your title to back your opinion...

    For a doctor you sure haven't learn any of the logical fallacies. ICE are near Peak thermal efficiency there almost no head room to improve them anymore. If we are talking about efficiency which you should care about since your a economist betting on ICE is a fouls of a dream with the top output efficiency in the 35% range of input energy in the system...
  • Terry Robb on April 18 2023 said:
    EVs are still in the beginning of in USA. Norway does not have a political party making laws against EV adoption. GOP does not believe in climate change or polluting vehicles pollute. Wyoming does not allow wind power and wants a law to ban EVs. N Carolina wants a law for free gas when private companies give free electricity for EVs. Maybe there should be a law for free Pepsi when there is some company giving free Coke. Actually Norway has lots of incentives for EVs and to stop polluting. Europe used to be like Poland all pollution and DIEsell
  • Terry Robb on April 18 2023 said:
    EVs are still in the beginning of in USA. Norway does not have a political party making laws against EV adoption. GOP does not believe in climate change or polluting vehicles pollute. Wyoming does not allow wind power and wants a law to ban EVs. N Carolina wants a law for free gas when private companies give free electricity for EVs. Maybe there should be a law for free Pepsi when there is some company giving free Coke. Actually Norway has lots of incentives for EVs and to stop polluting. Europe used to be like Poland all pollution and DIEsell
  • Mike Berger on April 18 2023 said:
    Pretty much all viable EV's are sold. The reason people in U.S. aren't buying EV's is there's few to be had.

    Tesla's the only one producing in volume and they have 16 days of inventory world wide. Much of that is shipping from Shanghai to destination markets... In the U.S. their inventory is much lower... Compare that to 100+ days for several incumbents ICE offerings.

    All others EV offerings have very few EV's produced and near 0 in inventory.
  • Rick Cothren on April 18 2023 said:
    Not only is cost a major factor, as more learn of the inconvenient aspects of electric they will be even less likely to purchase an EV.
    Lack of charging stations, time it takes to charge, range all are against the EV with our driving culture the way it is.
    Who wants to take a road trip when it takes 45 minutes to get maybe 100 miles of charge added to a vehicle for around $20.
    Compared to even my 1990 4x4 pickup I can get that 100 miles range added in less than 5 minutes for about the same $20. I would rather have my EMP proof truck than an EV.
    Not only that we don't have the utility infrastructure to support bunches of EV's charging every night for 8 hours only to get maybe 1/2 a charge with a basic charger in a home.
  • steve Clark on April 26 2023 said:
    I just timed how long it took to fill my tank with gasoline.....it took 90 seconds from almost empty.

    Cost to fill is very similar to electricity on a per miles traveled basis. based on Honda Civic 4 door which is slightly larger than a Model 3

    Case closed.
  • Barney Biggs on May 08 2023 said:
    I always get a kick out of people who use Norway and like countries as their examples. So we are trying to compare Norway with just over 5 million with the US with 337 million. Norway with a small land mass to the US with a huge land mass. Norway with a socialist Gov. with the US (Lord knows what they have). Norway with a less diversified population to the US huge diversification. As a retired policy person if I was going to make policy GUESS which I would prefer.

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