Not with a 10-foot pole.Even though electric vehicle sales in both Canada and the US are expected to hit 40% of all cars and light trucks by 2030, a vast majority of Americans refuse to consider even buying one.According to an Ipsos survey, 57% said they were either ‘not at all likely’ or ‘not too likely’ to buy either a fully electric or plug-in hybrid vehicle. Just 7% said they were ‘extremely likely’ to buy one.The results were even more pronounced on demographic breakdowns; 70% of those 65 or older said they wouldn’t even think of it along with 60% with incomes below USD$50,000 per year.In addition, 76% of those who identify as Republican wouldn’t buy one either. Conversely 41% of Democrats said they would buy an EV compared to just 17% of Republicans.Over 70% of respondents said EVs are just too expensive, 73% said they lack range and 77% fretted over a lack of chargers on the road.Interestingly, 60% said they were concerned about “environmental impact” from the EVs themselves — presumably from materials used in batteries..People hesitate to buy a new car if there's uncertainty in the economy. I don't want to be going into top speed into uncertainty.Tesla CEO Elon Musk.Also contradictory were findings that 54% support government programs to reduce fossil fuels — presumably in the form of government subsidies for EVs themselves — while 61% opposed restrictions on the sale of gasoline powered cars.It comes amid flagging demand for EVs in general as manufacturers scale back ambitious production plans in both North America and Europe.Tesla became the latest to slow production, joining Ford, General Motors and Volkswagen to cut production lines and reduce staff.On a conference call, Elon Musk said the company was halting its so-called ‘giga-factory’ in Mexico until the global economic picture improves. He also warned of falling demand and higher costs."People hesitate to buy a new car if there's uncertainty in the economy," Musk said on a conference call where he also talked about monthly payment pressures stemming from higher interest rates. “I don't want to be going top speed into uncertainty."GM announced on Tuesday it was delaying production of its electrified Silverado and Sierra pickup trucks by at least a year due to sagging demand.Tesla shares were down more than 10% after it reported lower than expected third quarter profits and revenue that fell 44% from last year. Total operating margins fell by more than half.“Even a great ship in a storm has challenges,” said Musk.
Not with a 10-foot pole.Even though electric vehicle sales in both Canada and the US are expected to hit 40% of all cars and light trucks by 2030, a vast majority of Americans refuse to consider even buying one.According to an Ipsos survey, 57% said they were either ‘not at all likely’ or ‘not too likely’ to buy either a fully electric or plug-in hybrid vehicle. Just 7% said they were ‘extremely likely’ to buy one.The results were even more pronounced on demographic breakdowns; 70% of those 65 or older said they wouldn’t even think of it along with 60% with incomes below USD$50,000 per year.In addition, 76% of those who identify as Republican wouldn’t buy one either. Conversely 41% of Democrats said they would buy an EV compared to just 17% of Republicans.Over 70% of respondents said EVs are just too expensive, 73% said they lack range and 77% fretted over a lack of chargers on the road.Interestingly, 60% said they were concerned about “environmental impact” from the EVs themselves — presumably from materials used in batteries..People hesitate to buy a new car if there's uncertainty in the economy. I don't want to be going into top speed into uncertainty.Tesla CEO Elon Musk.Also contradictory were findings that 54% support government programs to reduce fossil fuels — presumably in the form of government subsidies for EVs themselves — while 61% opposed restrictions on the sale of gasoline powered cars.It comes amid flagging demand for EVs in general as manufacturers scale back ambitious production plans in both North America and Europe.Tesla became the latest to slow production, joining Ford, General Motors and Volkswagen to cut production lines and reduce staff.On a conference call, Elon Musk said the company was halting its so-called ‘giga-factory’ in Mexico until the global economic picture improves. He also warned of falling demand and higher costs."People hesitate to buy a new car if there's uncertainty in the economy," Musk said on a conference call where he also talked about monthly payment pressures stemming from higher interest rates. “I don't want to be going top speed into uncertainty."GM announced on Tuesday it was delaying production of its electrified Silverado and Sierra pickup trucks by at least a year due to sagging demand.Tesla shares were down more than 10% after it reported lower than expected third quarter profits and revenue that fell 44% from last year. Total operating margins fell by more than half.“Even a great ship in a storm has challenges,” said Musk.
