Are EV sales beginning to slump?

Slideshow April 02, 2024 at 12:00 AM
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As the door closed on 2023, and both state and federal-level tax incentives for buying electric vehicles began to expire, many auto-industry watchers suggested that electronic-vehicle sales would subside in turn. It wasn't just fewer tax incentives that caused EV sales worries. Consumers also have voiced concerns about how far these vehicles can travel between charges, a worry that's sometimes referred to as "range anxiety." Also, there remains a dearth of public charging stations, and some particular electric vehicles (pickup trucks, for instance) have struggled with ongoing battery performance problems. Other consumers question whether EVs make economic sense in this year's tough economy, as they remain more expensive than hybrid or gasoline-powered automobiles. What lies ahead for federal-level EV incentives may depend on who wins November's general election. President Joe Biden continues to push for EV adoption by private citizens and fleet operators alike, while Donald Trump has promised a "bloodbath of regulatory restrictions to block imports and protect American auto workers," USA Today reports. The bottom line: EV sales remain strong, even if these vehicles are less popular than they were a year ago. The stats highlighted above give some context to the complex question of whether or not EV sales are slumping. See also: