Electric vehicles pick up momentum in the US

October 2, 2013 0 By Stephen Vagus

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Electric vehicles are becoming more common in the US

Electric vehicles are still considered somewhat rare around the world, but they are becoming much more common in the U.S. A new report from the Electric Drive Transportation Association, a clean transportation trade group, shows that the sales of electric vehicles in the U.S. tripled in 2012. Moreover, the sale of electric vehicles has been growing at a fast pace over the past three years, partly due to the falling costs associated with these vehicles and the various financial incentives that have been instituted to promote their adoption.

Data shows that EV owners drive less

Based on the findings of the EV Project, an initiative run by Ecotality Inc., electric vehicles in the U.S. are gaining significant momentum. The project is meant to collect information concerning drivers of electric vehicles in order to provide insight into what consumers prefer and how they behave when it comes to the matter of clean transportation. According to the EV Project, owners of electric vehicles tend to drive less frequently, favoring their vehicles for short trips rather than long commutes. The limited range of most electric vehicles also encourages consumers to use these vehicles for short trips.

Electric VehiclesEV owners tend to be more affluent

Data from the EV Project suggests that those purchasing electric vehicles are somewhat more affluent than those opting for more traditional vehicles. Electric vehicles are typically more expensive than their conventional counterparts due to the technology and materials they use. While this can make the vehicles unattractive to many consumers, the data suggests that the costs associated with electric vehicles have not been enough to slow their adoption by a significant margin.

Financial incentives help promote adoption of electric vehicles

In the U.S., many states offer financial incentives that are meant to encourage the purchase of new electric vehicles. These incentives can greatly offset the initial cost of a new vehicle, making them more available to a wider range of consumers. As these incentives become more popular, more consumers are expected to purchase electric vehicles, especially if the auto industry continues to focus on producing these vehicles for the foreseeable future.