In the early 2000s, hybrids and electric cars (EVs) from Toyota, Honda, Ford, and even Tesla were a rarity, and their drivers faced social stigma. Some people were made fun of for having an unrealistic or misguided concern for environmental issues.
With Hollywood’s support for the cause, Electric vehicles (EVs) have finally broken into the mainstream after years of market share struggles.
According to a recent poll conducted by the automotive research, analysis, and shopping platform Autolist, the social stigma associated with EV ownership is currently the least important factor for consumers to consider when making a purchase. Customers used to be anxious that they wouldn’t be able to locate them at a nearby dealership, but those concerns have already been all but eliminated.
There are more EVs on the road now, so consumers aren’t as concerned about a lack of availability. CarGurus reports an almost 205% year-over-year increase in the availability of new electric vehicles. The chip scarcity and the rate at which new models are being introduced to the market are improving. Used EV supply has also increased.
Ford Motor Company anticipates a $4.5 billion loss on EVs in 2023, up from a $3 billion loss expected earlier this year.
Reports show that Ford, despite recently lowering the selling price of the electric F-150 Lightning pickup truck, expects to lose $4.5 billion on EVs this year.
The Biden Administration is providing Ford with a multibillion-dollar loan to assist in funding the construction of three EV battery assembly factories.
According to a report citing market research statistics, more than 90,000 electric vehicles and trucks are already sitting on dealership lots, four times as many as there were a year ago.
News reports of EV malfunctions serve to validate the legitimate concerns that many Americans have about EVs and climate change. For an issue of Motor Trend, editor Scott Evans and his team described what happened when they depleted the battery on a Rivian R1T, the first electric pickup to be mass-produced.