Are There EVs For Sale on Your Local Lot?

If you’re shopping for a new vehicle, chances are good that there are EVs for sale on your local lot. After all, EVs aren’t just for early adopters and people who think they’re saving the planet by driving them. They’re a major component of a plan to clean up the world’s transportation fleet. And that will require a lot of drivers who can get comfortable with the technology and a whole lot of charging stations.

Despite the current flurry of pessimistic press, EVs aren’t going anywhere. In fact, electric vehicles have never been more popular in the United States. Last year was the best yet for sales, with a record 1.2 million sold domestically. And even though the growth rate has slowed, it’s still far above the industry average and way ahead of what many expected.

EVS for Sale: Navigating the Market

One big factor is price, which has dragged down the overall market. While federal tax credits and state and local incentives can offset some of the added cost, making a major long-term investment is daunting for many shoppers, according to research by Ipsos. People are also concerned about battery range and finding charging stations, a survey by JD Power found. And, one in three shoppers doesn’t even have a driveway that would accommodate a Level 2 charger.

But several other factors are at play as well. Some automakers aren’t bringing in new models, which means the inventory on some dealership lots is getting older. In addition, the number of used EVs on the market is expanding. Recurrent data shows that more than a third of the like-new 2022 EVs on dealers’ lots are now five years old or more.

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