Will Electric Cars ever Dominate the Market

Will Electric Cars ever Dominate the MarketWhile many automakers are already manufacturing electric cars, others have a wait-and-see approach to producing these vehicles. In an already shaky market, many are wondering if electric cars will ever outsell traditional petrol-powered vehicles. Here are a few factors that could determine the popularity of these automobiles in the coming years.

Cost

The cost of an electric vehicle is higher than a petrol one, so many people are afraid of investing in one. Even when high petrol prices are calculated into the cost of ownership, these vehicles are still not cost-effective for many people. The good news is that these vehicles are cheaper to manufacture because they require fewer parts. Part of the reason for their high sticker price right now is that they are not being mass-produced. Should they catch on in popularity, they could be far more affordable for the average driver.

Charge

Right now, an electric vehicle can go around 80 miles before needing to be recharged. Many people who travel frequently fear they wouldn’t be able to travel far when going on holiday. Since there are few charging stations available, drivers also fear being stranded without a way to charge the battery on an electric vehicle. Improvements to battery life and greater availability of charging stations could lead to fewer anxieties about a car’s driving range, and ultimately mean higher sales.

Choice

There are only a few electric vehicles on the market, so many people do not consider them due to lack of choice. This could change as batteries become more powerful, because automakers will be able to manufacture larger sedans and SUVs that operate on electric power. Since many of the electric vehicles on the market are very small, producing larger models would enable drivers who haul a great deal of cargo or often carry other passengers to consider an electric car over a petrol model.
Electric cars are good for the environment, and people who drive them can reduce their dependency on fossil fuel. With future improvements, these automobiles could end up dominating the market, making the gasoline pump a thing of the past.

Picture: andrea lehmkuhl – Fotolia