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U.S. Demand for EVs, Hybrids Slumps to 4-Year Low
Cheap fuel and the improved efficiency of conventionally powered cars are sapping consumer interest in electric and hybrid vehicles in the U.S., according to Edmunds.com.
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Cheap fuel and the improved efficiency of conventionally powered cars are sapping consumer interest in electric and hybrid vehicles in the U.S., according to Edmunds.com.
The online auto data provider says EVs and hybrids captured a four-year low of 2.8% of the American passenger vehicle market in January-May compared with 3.5% in calendar 2014 and 3.7% in 2013.
Edmunds notes that 45% of owners who traded in their EV or hybrid in the first five months of 2015 opted for another alternative-power vehicle, down from 60% who did so three years ago. Edmunds adds that 22% of that group switched to an SUV, up from 12% over the same period.
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