The Rise of Electric Cars: Sales Soar, but Gas Cars Remain Dominant

Electric vehicle (EV) sales in the US are breaking records, with nearly 300,000 new battery-electric vehicles (BEVs) sold in Q2 2023, surpassing the total sales of 2019. Factors such as price cuts, a wider variety of available vehicles, and government and manufacturing investments are driving the growth. However, EVs are not expected to replace gas cars anytime soon due to several barriers. Price remains the biggest concern for consumers, despite recent price cuts. Additionally, a lack of access to charging stations and geographic disparities in charging infrastructure pose challenges. The US Energy Information Administration predicts that achieving an EV-majority market will take several decades.