High Gas Prices Are Boosting EV Sales Around The World. Will The U.S. Be Left Out?

""We see from basically every indicator we can find that people are more interested than ever in EVs," Colin McKerracher, the head of clean transport at BloombergNEF, stated. "And in the places where that supply is available, primarily from the Chinese automakers, to meet that demand, sales are going through the roof.""

""In Europe, March was a record month for sales of both pure EVs and plug-in hybrids," according to Benchmark Mineral Intelligence. "Sales of plug-in vehicles rose 72% month over month and 37% year over year, buoyed by both new government subsidies and rising fuel prices.""

""I'm a bit concerned for the U.S. market," McKerracher said, "in the sense that we may be at the point where the pullback from carmakers has left the country’s EV market on the back foot at precisely the wrong time.""

High gas prices are significantly boosting electric vehicle (EV) sales worldwide, particularly in Europe, Asia, and Australia. March marked a record month for EV sales in Europe, with a 72% month-over-month increase in plug-in vehicle sales. In regions with ample Chinese EV supply, such as Southeast Asia and Australia, demand is surging. However, the U.S. market is struggling due to a pullback from automakers, despite rising gas prices. Analysts express concern about the U.S. EV market's ability to capitalize on the growing interest in electric vehicles.

Read at insideevs.com