Jalopnik: No One In The U.S. Really Wants To Buy Electric Vehicles

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No One In The U.S. Really Wants To Buy Electric Vehicles

EV’s from Toyota, Ford, Audi and Genesis are just sitting on dealer lots as supply outgrows demand.

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The problem with EVs was once limited supply, but it has now become demand. In the U.S., EVs are sitting on dealer lots for far longer than their gas-powered counterparts and piling up as buyers mostly continue to overlook fully-electric cars, as Axios reports. Despite carmaker lineups filling out with new EV models and the production thereof ramping up, people are still worried about charging and the pricing of EVs.

The latest reports from Cox Automotive indicate that car buyers are much more interested in EVs now than in the past: 51 percent of buyers who participated in a recent Cox survey are considering buying a new or used EV, which is up from 38 percent in 2021. And Cox says that EV sales will break the 1 million mark for the first time in 2023, with sales reportedly accounting for about 6.5 percent of the entire auto market in the U.S. so far.

Even so, it looks like EV supply is outstripping demand by a significant margin. The nation’s fully-electric cache is reportedly up by 350 percent this year, with nationwide inventory sitting at over 92,000 vehicles. That translates to a 92-day supply of EVs, which is almost twice the current average for gas-burning cars.

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The Ford Mustang Mach-E is at a 117-day supply, although Ford says it expects a surge in demand in the coming months. We’ll see. The Genesis Electrified G80 currently comes in with the longest day supply at 350 days. In fact, the South Korean carmaker has managed to sell only 18 of the sedans within the first half of 2023.

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