The primary reasons for China’s EV market dominance are myriad and well-trod. China put serious government money behind EVs. It cut red tape, incentivized buyers, and provided cheap property. Homegrown companies with minimal or no experience building ICE vehicles saw the transition as an opportunity, not a chore, as many Western companies clearly perceive it. Yet one factor is as under-covered as it is important. A far larger proportion of Chinese EV buyers are first-time car buyers. Many more had owned only one or two cars before. That’s key for one main reason: In China, EVs were free from much of the baggage still weighing them down here. Photo by: InsideEVs Ford’s CEO recently called the economics of large SUV EVs “unresolvable.” I agree, which is why EREVs and hybrids
Tag Archives: CarIndustry
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Interest in electric vehicles grew substantially in 2024. According to a survey from CDK Global, 31% of gas-car shoppers plan to buy an EV. That’s up from 18% in 2023. There are still big misconceptions about the cost of EV ownership across car buyers, though. The percentage of car shoppers who plan to buy an electric car someday shot up in 2024. But you wouldn’t know that based on the breathless coverage of EV demand “stalling.” CDK Global, a company that provides software to car dealerships, surveyed car buyers and found that the percentage of gas-car shoppers planning to buy an EV in the future jumped from 18% in 2023 to 31% in 2024. For those considering hybrids, EV interest was even higher, which makes sense. CDK says that in