Several years ago, car manufacturers began making detailed plans to switch their vehicles to battery-electric power. Some even set deadlines for stopping the production of gas-powered cars.
However, many are now reconsidering their plans for the future.
Sales are decreasing for some companies while others are unaffected, consumer interest is decreasing, and almost half of electric vehicle owners in the U.S. are thinking about switching back to gas.
What could be causing this shift?
Here is some of what Breck Dumas reported on the issue for Fox Business:
A significant share of Americans who own an electric vehicle have buyer’s remorse, according to new data.
McKinsey & Co.’s Mobility Consumer Pulse for 2024, released this month, found that 46% of EV owners in the U.S. said they were “very” likely to switch back to owning a gas-powered vehicle in their next purchase.
The high percentage of Americans who want to make a switch even surprised the consulting firm.
“I didn’t expect that,” the head of McKinsey’s Center for Future Mobility, Philipp Kampshoff, told Automotive News. “I thought, ‘Once an EV buyer, always an EV buyer.'”
In the poll of nearly 37,000 consumers worldwide, Australia was the only country with a greater percentage, 49%, of EV owners than the U.S. who said they were ready to return to owning an internal combustion engine.
The other countries included in the survey were Brazil, China, France, Germany, Italy, Japan and Norway. Across all countries surveyed, the average share of respondents who want to ditch their EVs was 29%.
To read more about this issue, click HERE.