(WHTM) — With this year’s rise in gas prices, we’re all looking for ways to save. More people are doing that by switching to electric cars.
“We’ve seen about a 50% increase as well of consumers searching for EVs and hybrid vehicles versus the typical combustible engine, so it’s a pretty significant move into electric vehicles,” said Nathan Hecht, founder and CEO of Rodo, an online marketplace to buy, lease, and sell new and used vehicles.
Pros of owning an eclectic vehicle, or EV, include cost savings from not buying as much gasoline, receiving tax incentives for buying electric, and saving money on oil changes and other costly combustion engine vehicle maintenance.
One of the biggest downsides of owning an EV is range anxiety. “You’re limited in the range that you can get on an electric vehicle. Today it’s gotten much better than in previous years — you can get hundreds of miles per charge — but still, if you’re driving out in the countryside or you’re taking long trips in rural areas, you need access to a charging station,” Hecht said.
EV drivers also don’t have as many vehicle options, especially when it comes to SUVs and pickup trucks. Because of the limited supply, don’t expect to negotiate a price, but things are changing.
“Although the demand for electric vehicles is exceptional right now, the manufacturers are putting an emphasis on building those cars, so as supply chains replenish dealership lots, they are focusing on replenishing with electric vehicles,” Hecht said.
Electric vehicles do appear to be here to stay.
“For a variety of reasons, today it does look like it is becoming the standard. I don’t think it replaces the combustion engine overnight, but over a 10- or 15- or maybe even a 20-year period, the majority of vehicles sold globally are going to be electric vehicles,” Hecht predicted.
The average price of an electric vehicle is about $10,000 to $15,000 more than a gas vehicle, but as more are made, those prices will come down.