So the soft market for EVs is hardly a surprise- the news is about up front costs and charging infrastructure etc but the simple fact is that the fall in EV demand has mirrored the fall in gas prices. I bet a dollar a gallon increase in gas would drive ev sales through the roof…
But as EV adoption rises, demand for gas will fall by the same amount, right? Which would mean that gains in EV popularity essentially guarantees that gas remain cheap, which means that people will want gas cars indefinitely. As much as I am a believer in market efficiency, I fear that we are stuck with gas cars for a very very long time.
It could cost me 9x more to power an electric than a manual (my term for backwards gas vehicles where you have to drive around and look for fuel like 1890).
I’d still drive the EV. This theory about the elasticity of demand being based off a 30 cent gain or drop in gasoline prices is 20 years too old and outmoded.