A massive shortfall of inventory has turned the experience of purchasing electric and hybrid vehicles into a battle over scarce resources. nickbilton reports:
of all new vehicles has plummeted by 70% over the past three years: Car dealers had 3.4 million vehicles available for sale in April 2019; by this April, that number had dropped to just over one million. The consumer-research company J.D. Power reported in Aprilthe average number of days a new car sits at a dealership before it’s purchased was on pace to be only three weeks, compared to 49 days just a year prior.
AlixPartners. “Due to multiple global factors, the E.V. market is currently experiencing some unusual bumps,” saysexecutive director of Veloz, a nonprofit advocate for electric cars. “Automakers are working hard to ramp up production to their pre-COVID levels but are being faced with ongoing worker shortages and supply constraints.
Often these economics work themselves out in short order. We’re already seeing some of the gas-car prices falling back to reality, but there’s no end in sight for consumers who want to buy electric or hybrid vehicles. The war in Ukraine has juiced gas prices, which in turn has highlighted the benefits of electric vehicles.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In North Texas and Elsewhere, Used Car Prices Are Probably Going to Keep RisingUsed car prices are still high after pandemic increase and the tax office is noticing the flood of new titles and registrations with two hour or more wait times
Read more »
Alpine CEO on electric A110 replacement and future modelsCAR magazine UK on the electric Alpine sports car with pictures and first details
Read more »
Carmakers Can’t Keep Up With Booming EV Sales as Supply Chains FalterDemand for electric cars is up and manufacturers are worried.
Read more »
2024 Polestar 5 electric car previewed: price, specs and release dateNew flagship Polestar5 electriccar will offer up to 874bhp and a range of up to 300 miles 😯 Find out more 👇
Read more »
Electric Cars: Commercial And Private Sales Are Even In EuropeBusinesses account for a majority of vehicle registrations in Europe, though electric vehicle registrations are an even split with private ownership.
Read more »
Electric Car Glossary: EV batteries, charging stations & ICE explainedYou need to know a few foundational terms to understand how to charge and care for an EV, especially the batteries. We’ve gathered a handful of the most common and important terms.
Read more »