If you’ve been shopping for a new car, you might have been looking at the increasing offer of electric cars. As of 2024, you might be wondering if now is the time to jump into the world of electric vehicles as more and more countries are looking to move away from combustion engine cars. But is now the time to do it? This is the question that haunts many people who are currently looking to purchase their next vehicle. Let’s look at the state of the automotive industry and where electric cars are presently to see if now is the perfect time to make the move and switch to electric.
Availability
One of the biggest dampers when it came to actually making the switch over the past few years was the actual shortage of electric cars on the market. The reality is that the automotive industry was extremely impacted by the covid 19 pandemic which caused a large lack of semiconductors which are required for a lot of electrical components in cars both electric and gas-powered. While there are still current lead times when it comes to acquiring a brand-new electric car, it should be noted that the waiting times have gone down by a lot since 2020. Still depending on where you are in the world you can expect wait times to average between a few weeks to a few months and only time will tell how much lower these lead times will get.
Variety
While not long ago many people considered electric cars to be the sole playing field of the Tesla company the reality is that now Tesla is facing fierce competition from very well-known names like Ford, Mercedes-Benz, and other American car brands like Chevrolet and General Motors as well as Japanese companies like Hyundai and Toyota. With the increase in competition of course we expect prices to get lower but also for the variety of models to get higher. For example, on the market currently, you can still buy a 4-door Tesla car but if you want you can opt for a Ford Lightning pickup which allows you to do pretty much the same thing a Ford F-150 does. As we see electric cars branch out into SUVs and other varieties of cars it does seem like the sky is the limit when it comes to the variety of electric vehicles.
Adapted Accessories
As these electric vehicles become more than a novelty, we are seeing an increasing demand as well as an increasing offer of accessories suited for these vehicles. Not only are we seeing a very impressive offer when it comes to the different models of charging stations that are available for homes there are also a lot of accessories built for vehicles that have finally hit the market. Not only is there a large selection of car covers that now includes Tesla vehicles as well as other electric models from companies like Mercedes or Ford there has been an increasing demand for accessories that allow people to protect their charging ports. As electric vehicles become more and more prevalent, we will see a larger interest in accessories specially suited for the electric nature of these vehicles.
Tax Credit
Whether you live in Canada or a select few American states you might be surprised to learn that the purchase of a new electric vehicle might make you eligible for a tax credit of up to $7500. Such a credit also exists for those looking to purchase a used electric model. This of course is an incentive meant to allow for a full transition to electric cars in the next few years or decades depending on where you live. While the current projected year for the United States full electric transition is 2050 Canada is aiming at a very hopeful goal of 2035. The reality though is that currently, many people consider the tax credit to still be too low to incentivize many people to go ahead and purchase a brand-new car but still if you have the money it can be a great incentive.
Gas Prices and Environment
As we see the state of the world there is no denying that climate change is having a very strong effect on the state of things as we see a rise of forest fires and tornadoes. If you pair these concerns with the rising price of gas it is hard to deny the fact that fossil fuels are not only hurting your wallet but also the world around, you. This is why many people are considering switching to electricity right now as it becomes more and more of a pressing matter to do something about the state of the world and the climate crisis. If it is something that concerns you now might be the time especially since many people, consider the world to be trailing behind when it comes to addressing the climate crisis at large.
