Americans Won’t Buy EVs

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By Douglas A. McIntyre Published
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Americans Won’t Buy EVs

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Tesla has a wide lead in the sales of EVs in America. At least another dozen major car companies are in pursuit. Each has, or will, invest billions of dollars in designing, building, and marketing their new fleets. Each has to worry about something basic. Do Americans want to own EVs?

The evidence against an EV-based world is growing. According to CNBC, research by the Energy Policy Institute at the University of Chicago and the Associated Press-NORC Center for Public Affairs Research shows only 19% of those polled “very” or “extremely” to buy an EV as their next car. That means millions of Americans that car companies forecast would buy EVs will buy gas-powered cars instead.

A recent article in The Wall Street Journal titled “Why America Isn’t Ready for the EV Takeover” offers a long list of reasons, some of which are obvious. EV car companies say their cars will drive hundreds of miles. In some cases, this is not true at all.

EV vehicles also face a minimal number of charging stations. This may not be true in and around large cities. Elsewhere, it can be a very large issue. There are about 125,000 gas stations in America. Filling a gas-powered car can take as little as 10 minutes.

EVs take a long time to charge. A Tesla Supercharger station can charge a car in an hour. Filling a gas-powered car can take as little as 10 minutes.

People are used to taking cars to mechanics to fix them, even if the repairs are relatively expensive. EVs often get upgraded via software sent to them wirelessly. It is a process most drivers have not experienced. Thus, people have to learn the process and trust it.

Some EVs have self-driving ability. These can be dangerous, some people think, even if the evidence is anecdotal.

Tesla may sell two million cars worldwide this year. It will be many fewer in America. Traditional car companies like Ford will sell a few tens of thousand, and sales will grow very slowly from there.

Also see: the American cities with the most car theft.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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