Electric cars are projected to surpass traditional cars by 2040 according to figures in the infographic below from TopAutoTools. Demand for electric vehicles is expected to rise as their prices fall over time. More efficient manufacturing processes and the use of cheaper materials will cut costs more and more.
The shift to electric power coincides well with the depletion of the planet’s current oil reserves. The coming years are an opportune time for electric vehicle manufacturers to capitalize on the volatility of oil prices by offering a more stable, more economical solution. [pullquote]As long as the initial price is affordable enough for the American middle class and middle classes citizens around the world, the amount owners will save on fuel will more than justify their price tag.[/pullquote]
In fact, by the year 2025, electric cars and traditional vehicles are projected to cost the same brand-new. This will be another huge step toward eliminating oil dependency for transportation and modernizing our roads with clean, electric powered vehicles.
Since 2013, electric vehicle sales have risen by an incredible 754%. This figure is expected to multiply after the release of the world’s first relatively affordable electric vehicle, Tesla’s Model 3. This is a major leap into consumer markets, as previous models were priced far too high for the average consumer. The Model 3 costs only $35,000 not including tax breaks.
Current buyers aren’t bothered by electric vehicles’ modest horsepower. They are attracted by the fact that it’s a clean alternative to gas or diesel powered vehicles and a major sign of support for green energy efforts. Some buyers enjoy the novelty of using cutting edge technology to get around. Others plan on using their electric cars long enough for the initial investment to pay off through gas savings. Regardless of the reasoning for buying an electric vehicle now, some day in the future they may be the only kind of vehicle that dealers sell.
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