Did you know that electric vehicle sales nearly doubled in 2021?
The electric car market is booming, and leading to major changes in the vehicle industry. Car industry news reveals that the changes in supply and government subsidies are making waves in the car market. But what does the future of the car industry look like?
In this guide, we’re here to discuss all the current trends in the vehicle industry. By the end of this article, you’ll be up to date on all the most important developments.
The Future of the Car Industry: Major Manufacturers Will All Have an Electric Line-up
Tesla used to be the king of electric cars. They continue to sell record numbers of their famous roadsters. But today’s vehicle market is seeing a shift to major manufacturers taking a slice of the pie.
Honda, Ford, and even BMW are making their own offerings. Many Tesla owners have complained about the poor manufacturing quality of their vehicles. Frequent Tesla battery fires have also called into question their quality assurance.
As such, other major combustion vehicle manufacturers have created excellent Tesla alternatives. Whether you’re a new electric vehicle owner or want to get a used one, the time is never better to purchase.
Europe Leads In Sales Over China
China has been fighting tooth and nail to climb to the top of the electric car market. But in 2020, things swung in favor of Europe, which sold 200,000 more vehicles than China.
A large issue with electric cars has been having the infrastructure in place to service them. Not just charging stations. The effect of charging so many vehicles adds strain to the grid.
This is an ongoing story, especially in the wake of the conflict in Eastern Europe. The energy crisis has forced Europeans to make do with far less oil. Chances are this will force rapid deployment of green energy, leading to a bright future for electric cars.
Government Subsidies Are Not Keeping Up With EV Purchases
Governments around the world have been offering huge incentives for green energy. These green initiatives boost the car market by allowing owners to subsidize their purchases. Since electric vehicles cost more, this will be important for adoption.
Unfortunately, subsidies have lagged behind. This comes as a shock since as mentioned earlier, sales of EVs have skyrocketed. More and more people are purchasing electric vehicles, and yet the subsidies fall with each passing year.
This may lead to a dip in electric vehicle purchases. And with supply chain issues affecting production, purchasing a used vehicle is quickly becoming the alternative. We may observe a long period while the vehicle market evens out and solves these issues.
Purchase a Used Vehicle
The future of the car industry is both promising and uncertain. Electric vehicles are on the rise, but at the same time subsidies and supply issues may disrupt widespread adoption. Until these issues iron themselves out, the best option is to purchase a used vehicle.
Start your search for a used vehicle now. The best cars in Stephenville can be found at Bruner GM. Get in contact with the best auto dealer in your neighborhood.
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