Are inventory shortages changing EV interest?

Are inventory shortages changing EV interest?

Many Americans say their next vehicle may be an EV and auto manufacturers are ramping up production.

We still may not know too much about the world of EVs and the market surrounding them. And, thanks to recent shortages across the world with supply chain issues, you may be lacking in interest toward EVs, as well.

Look, consumers interest in EVs is not fading. In fact, I for one am confident in the sheer amount of interest there is in the EV segment among consumers – here’s why it is something you should definitely keep in mind if you’re in the automotive industry.

Why you may ask? Well, according to a recent Cars.com survey, the recently adopted work-from-anywhere culture, inventory shortages and expanding technology both in the car-buying process and the cars themselves are the forces defining the automotive landscape for the future.

According to the survey, almost two-thirds of Americans surveyed indicated they were more likely to buy an EV after recently announced plans to incentivize Americans who owned an EV was announced by the Biden Administration. And, even though there are shortages and supply chain issues, 60% of consumers stated the inventory shortage and price increases haven’t changed their purchase timelines – according to that same survey.

Along with that Cars.com survey, Ford, the self-named “leader in must-have connected, electric vehicles,” recently released fourth-quarter and full-year operating results for 2021 to back that moniker up.

According to Ford, customers helped make it the No. 2 seller of electric vehicles in the U.S. in 2021. With these numbers, Ford CEO Jim Farley says the brand ordered or reserved more than 275,000 all-electric Mustang Mach-E SUVs, F-150 Lightning pickups and E-Transit commercial vehicles.

Along with this, Ford says it will double worldwide EV manufacturing capacity to at least 600,000 by 2023 – and that fully electric vehicles to represent at least 40% of its product mix by 2030.

So, regardless of your worries or disinterest in EVs or whatever, with many Americans saying they may be in the market for an EV as their next vehicle and auto manufacturers ramping up production, it is now more important than ever to know all you can about the EV landscape.

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