Automakers that fail to meet growing demand for electric vehicles will gradually lose market share and have trouble finding buyers for internal combustion-engine vehicles, Consumer Reports predicts.
A recent study by the publication’s advocacy division found that limited electric vehicle supplies are creating pent-up demand that will play out over the next few years, reducing the potential market for electric cars. gasoline and diesel oil.
CR notes that its surveys have recorded a 350% increase in demand for electric vehicles between 2020 and 2022, but predicts that current supply levels will not be able to meet that demand “until at least end of the decade.”
Ford F-150 Lightning 2023
According to a statement from CR, “This surge in demand is expected to be met by lagging supply, leaving many consumers wanting a BEV to choose between purchasing a gas-powered vehicle that doesn’t have a car and not buying a petrol vehicle without a vehicle.” they don’t want to, either join the ever-longer waiting list, or just wait and keep their current vehicle longer.”
About half of U.S. EV sales are Tesla vehicles, and it has such a high market share in part because of such limited availability of EVs from other brands—and because other brands still not yet competitive on price, with the exception of a select few models such as the Nissan Leaf and Chevy Bolt EV.
The past few years have been full of examples of premium electric vehicle launches constrained by supply chain issues, price increases and greedy dealers, price increases and limited availability on a wide range of vehicles. Power received high ratings from critics. Hyundai ioniq 5 arrive Ford F-150 Lightning. The latest bull run—the fourth in less than a year after shipping began—has lifted Lightning’s base price above $60,000.
One such example in the failure to meet the demand for electric vehicles it’s Toyota. With one dedicated EV platform drops many yearsand the logic that hybrids are better, it promotes the hybrids they want customers to buy rather than, according to the logic of this study, the cars they ask for.
2023 Hyundai Ioniq 5
CR predicts, instead of returning to gasoline cars, consumers will wait for the current market chaos. It’s a phenomenon known as the Osborne Effect, in which consumers give up buying something considered to be going out of fashion and wait for a better version. The implication is that consumers already consider internal combustion cars a part of the past.
California’s zero-emissions vehicle (ZEV) regulations, which target 68% sales (presumed to be primarily electric) by 2030, and 80% electric cars by 2035, which is more in line with the trajectories of electric vehicles in other countries where adoption has been sustained, CR noted. Better California Plan stated goals of the Biden administration 50% by 2030.
At the same time, automakers are facing some very mixed signals and survey results — such as the results from a 2022 Deloitte study that suggested two-thirds of Americans don’t want a car yet. tram and will not pay extra for electrification.
