After the great EV slowdown, high gas prices are tempting Americans back
This image was generated by AI and may not depict real events.
High gas prices in the US are leading to a renewed interest in electric vehicles, with some car shoppers considering EVs due to their lower fuel costs. Used EV sales have jumped 12% in the first quarter, and automakers are seeing signs of life in the EV market after a slowdown.
The rise in gas prices is changing Americans' minds about electric vehicles. Eric Janney, an IT worker, bought a used Kia EV6 after leasing one for two years. Car-shopping platforms like Cars.com and Edmunds have seen an uptick in EV interest. High gas prices are making EVs more attractive. The average gas price in the US is around $4.16 per gallon. On the West Coast, prices are even higher, with some areas paying over $6 per gallon. The US agreed to a two-week cease-fire with Iran, but oil flow restoration may take months, keeping fuel prices high. Used EV sales have increased, with a 12% jump in the first quarter. The market is seeing a surge of off-lease EVs at lower prices. Electric models made up 6.2% of new-car sales in March, up from 6% in February. General Motors says the market is showing early signs of stabilizing at around 5-6% of industry sales.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.