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"This is a good time to be in the business of selling electric vehicles."

1 minute read

There are people who like to write off the enormous potential of elective cars, but articles like this one prove them wrong. In fact:

This is a good time to be in the business of selling electric vehicles.

Once moribund, sales of electric cars have more than doubled in the U.S. during the first six months of 2013 compared to the same time period in 2012. Americans have purchased 41,447 of plug-in electric vehicles since January. Thirty-six percent of all the electric cars on the road today have been bought in the previous six months.

Why are electric vehicle sales booming?  A few reasons, such as:

  • More choice. "Manufacturers have rolled out four new models of plug-in electric vehicles since last year, upping the total available to 13 models."
  • Lower EV prices. "Nissan, for example, trimmed the Leaf's price by $6,000 earlier this year. Davis said the costs of the battery technology that powers these cars has declined by 50 percent over the past four years and expects a further drop."
  • Higher gasoline prices: "Although many oil industry experts predicted lower prices at the pump this summer, the national average remains $3.67 per gallon Monday, according to AAA's daily fuel gauge report."

The encouraging thing for EVs is that choices are only going to increase as time goes by, while EV prices are highly likely to keep dropping. Meanwhile, with crude oil over $100 per barrel again, there's no sign whatsoever of lower gasoline prices anytime soon. That, in turn, likely means it will be a "good time to be in the business of selling electric vehicles" for a long time to come.