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Wednesday, June 7,2023

Don’t Sell Your Combustion Engine Just Yet

By Teresa Aquila  
With the push for Electric Vehicles to cover our roadways, are they truly the future? I wouldn’t sell your combustion engine vehicle just yet. Sales of EVs have declined over the past several months for many reasons. With persistent worries about charging infrastructure and vehicle pricing dampening enthusiasm, EV’s market share of all new-vehicle sales dropped to 7.3 percent in March, down from a record high of 8.5 percent in February, but up from 2.6 percent in February 2020. 21 percent of new car buyers surveyed stated that they were not interested in owning an EV.

Other concerns consumers are concerned about are range anxiety, time required to charge, power outages and grid concerns, lack of servicers for repairs and maintenance, and inadequate performance in extreme temperatures.

Electric Vehicles dominating our roadways by 2035 is a great goal, but not realistic. With over 2 billion combustion engine vehicles worldwide, it is unlikely this will be achievable. When considering which vehicle is right for you, do your homework. Happy Motoring.

 

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