“Newspaper reported”Wall Street Journal“The growth in electric car sales in the United States began to lose its luster this year in an unexpected shift.
According to the newspaper, the graphs show that electric car sales increased by approximately 50% this year, but have stabilized in recent months.
The newspaper explained that automakers around the world have invested billions of dollars in electric vehicle technology, driven by exhaust emissions regulations designed to boost sales of battery-powered models.
But with U.S. customers hesitant to switch from traditional gas-powered cars, some auto companies are delaying spending plans on electric vehicles.
According to the newspaper, sales of electric models rose rapidly in the first 11 months of this year, faster than the car market as a whole but at a slower pace than in previous years.
The newspaper believes that sales of electric cars began to stop in the latter half of this year, a move that automotive sector executives attributed to the relatively high prices of electric models.
As a result, electric cars and trucks are piling up in dealer lots, prompting auto companies to reevaluate their investment plans.
It takes a dealer about three weeks longer to sell an electric car than a gasoline-powered car, according to data from Edmunds, the car buying website, although a year ago, battery-powered models were selling faster than their gasoline-powered counterparts, according to the newspaper.
Part of the challenge for automakers is that demand for electric models is not evenly spread across the United States, with sales concentrated in a few states, especially in urban areas, where public charging infrastructure is more readily available, he says. Traders and auto executives, as well as according to data from S&P Global Mobility.
Auto executives say they are confident sales will accelerate as additional lower-priced models emerge and the availability of public chargers improves.