So the soft market for EVs is hardly a surprise- the news is about up front costs and charging infrastructure etc but the simple fact is that the fall in EV demand has mirrored the fall in gas prices. I bet a dollar a gallon increase in gas would drive ev sales through the roof…
But as EV adoption rises, demand for gas will fall by the same amount, right? Which would mean that gains in EV popularity essentially guarantees that gas remain cheap, which means that people will want gas cars indefinitely. As much as I am a believer in market efficiency, I fear that we are stuck with gas cars for a very very long time.
The average cost of owning a car varies widely - you may be thinking about the cost of a new car. My wife’s 2005 Prius has about 150k miles on it and costs us very little. Even if we drove it the usual 15k miles per year it would only take about 320 gallons of gasoline, so maybe $1500/year. The other costs of insurance, registration and maintenance are more than twice the cost of gasoline even for this chrapo car.
Of course if you want a giant behemoth or want to go 0-60 quickly or want fancy technology, then you will pay a LOT more. I just don’t think gasoline prices are a major factor in the USA.