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Are US EV sales a disaster or a booming segment? The answer could be both

by News Room
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Some experts say many of these barriers will fall. Immediately, however, these factors can make buyers second-guess an EV purchase and opt for an ICE or hybrid vehicle instead. “The change is significant” for drivers, Schirmer says. Buying an electric car is “a lot harder than buying another Toyota Camry.”

“It’s a big, slow-moving operation”

However, there are plenty of optimists who reject the doom and gloom story. They say the pessimists are short-sighted and that the electric car market is already doing well – and will do better in the coming years.

“There’s a lot to unpack,” says McDonald. “This was the best year ever from a sales volume standpoint — almost 50 percent year-over-year growth, and if you look at that growth, the volume was more than the total number of EVs sold two or three years ago.”

McCabe says there will be plenty of growth in both sales volume and market share – but it will be steady and steady, not explosive as initially (and wrongly) predicted. EVs are still in growth mode, and they believe consumers, investors and automakers simply need to reset their expectations.

This is mainly due to the fact that the car market is changing at the speed of an ice age. “One thing to recognize is that the U.S. auto industry is 120 years old, it’s a big, slow-moving operation,” says Mark Schirmer, director of industry insights and corporate communications at Cox Automotive. “16 million new vehicles are sold each year, and there are approximately 270 million vehicles on the road in the United States.”

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